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Choking on ITIL? - A Menu for Success
Choking on ITIL? A Menu for Success ... Food for thought "Frankly, I'm desperate - I'm choking" is a phrase I've become familiar with over the years. Faced with a daily diet of conflicting business priorities, resistant staff and increasing...
Does your culture support or sabotage your strategy?
"An organization's capacity to execute its strategy depends on its "hard" infrastructure--its organization structure and systems--and on its "soft" infrastructure--its culture and norms."
Amar Bhide
(Harvard and Columbia)
Is your organisation...
Getting Together: The Importance of Business Relationships
To succeed in today's collaborative, client-driven, networked economy, companies must take advantage of the strength of their business relationships to succeed. The business world of the past, in which each company could be managed in isolation, has...
Strategic Clarity for Communication Management
Over the past few weeks I've been developing plans for a communication project, a media relations campaign. That's prompted me to reflect again on the communication management process by which we transform communication ideas into...
The Project Management Mindset
Project management as a science and art is undergoing key transformations as a result of countless stories of failed projects, cost overruns, and canceling that project that took 2 years of your employee's lives. Needless to say, these scenarios...
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Performance Measures: A Key to Organizational Success
Performance Measures: A Key to Organizational Success By: Satgin
Seraj
In order to succeed in today's complex, fast paced and
competitive business environment, organizations need to utilize
tools that help them gain and maintain a strong position in
their industry. More specifically, management needs to utilize
comprehensive tools that help them track and analyze projects,
employees, processes, etc. There are many circumstances in which
the aforementioned, as well as, other factors, do not function
in the capacity or manner that is conducive to goal achievement
and success. To remedy this situation and to increase the
overall knowledge regarding an organization, management needs to
utilize tools that better help them achieve their goals. An
essential tool that can be utilized by management to assess an
organization's performance is performance measurement.
The utilization of performance measures helps organizations
enhance their operation's performance. They provide both
qualitative and quantitative methods to track, analyze and
characterize performance. In addition, performance measures
provide management with the tools needed to track an
organizations progress against its strategic plan and set goals.
Moreover, this measurement technique provides management with a
mechanism to manage its financial and non-financial, tangible
and in-tangible aspects of their organization. It is vital for
an organization's success and competitiveness for managers to
actively monitor and control functions. Identifying key
performance indicators and measures and comparing them against
established target values for those indicators, provides
comprehensive and analytical methods to measure organizational
performance and help monitor and control functions.
Organizations succeed when their units,
support functions and
employees work together in a manner that is conducive to goal
achievement. Performance measures provide tools for management
to align the organization's activities, including the above, to
its strategy by monitoring performance. Thus, helping management
better pin point and understand strengths and weaknesses within
the organization. As a result, they are better equipped to
address concerns and develop strategies to enhance strengths and
remedy weaknesses. There are numerous types of performance
measures that can be used. One example of a performance measure
that can be used is benchmarking.
Benchmarking is an effective tool that can enhance
organizational performance and its overall effectiveness and
efficiency. It can help management evaluate factors that affect
an organization's productivity in relation to the best practices
regarding the same factor(s). More specifically, benchmarking
helps management to have a point of reference for measurement of
various aspects and factors concerning their organization,
including employee performance, project success levels, etc.
Management cannot effectively govern and manage an organization
in an information vacuum. In order to facilitate the development
and maintenance of an efficient and effective organization,
management needs to utilize tools that provide a balanced,
comprehensive and analytical perspective on their organization's
strengths and weaknesses. A fundamental tool that can be
utilized to attain such a perspective is performance
measurement, which includes benchmarking. On a final note, a
balanced approach to performance planning, measurement and
management is a key component to help an organization better
achieve success and maintain a strong position in their
industry.
About the author:
None
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