Corporate Performance Management is a management control from strategy till shop floor. “If you can’t measure, you can’t manage,” legendary management guru Peter Drucker once asserted. He was right Managing performance means understanding results, setting metrics, fixing plans, and making decisions to ensure it happens. It takes multifaceted approaches from multidimensional perspectives. Here are five “How”s of Performance Management.
Five “How”s of Performance Management
How to Measure Changes? We can only manage what we measure. Is change so hard because it’s so hard to measure Changes? Organizations have so much difficulty measuring change for a variety of reasons such as miscommunication, hidden agendas, unclear goals and mission, poor leadership, “doing the same things over and over and expecting different results.” Change is a process with known/ controllable and unpredictable/unknowable variables. Change is ALWAYS happening around us at work and outside work. Perhaps the difficulty in measuring change management is that the very thing we are measuring is changing. There is an inherent oxymoron in the term change management. We want people to change, and manage or control at the same time. That’s like trying to drive with your foot on the brake and the accelerator at the same time. So to put it simply, how to measure changes, or more precisely, the change outcomes
Innovation Measurement: How to Do it Right? Innovation is the light every organization must pursue now, but most of the innovation initiatives fail to achieve the expected result. Druck is credited as saying: “We can only manage what we measure.” What is stopping you from measuring top line impact from innovation, how much revenue is generated by innovations launched in the last 5 years? Are innovation failures caused by the time lag, inefficiency of financial systems? Is your innovation process not so clear with limited information on what has been done, or something else for ineffective innovation management, like a fuzzy or not well-communicated strategy goals? And innovation measurement, how to do it right??
Strategic KPIs vs. Operational KPIs In recent years, creativity has become a very highly valued skill. Creative people combine existing possibilities to reach more often unexpected solutions. Creativity is an essential building block for innovation in business. Everyone possesses a certain level of creativity; some just have more than others. How does creativity manifest itself in the workplace? What’s the best work environment for creativity? What products (tangible or otherwise) are creative? Where that creativity arises from. And what acts, behaviors etc. may be examples of the organizational creative process? What risks are associated with creativity not being manifested in the workplace? How might you see a creativity employee?
How to Build and Measure Workplace Creativity? In recent years, creativity has become a very highly valued skill. Creative people combine existing possibilities to reach more often unexpected solutions. Creativity is an essential building block for innovation in business. Everyone possesses a certain level of creativity; some just have more than others. How does creativity manifest itself in the workplace? What’s the best work environment for creativity? What products (tangible or otherwise) are creative? Where that creativity arises from. And what acts, behaviors etc. may be examples of the organizational creative process? What risks are associated with creativity not being manifested in the workplace? How might you see a creativity employee?How to Set “SMART” Goals Smartly? S.M.A.R.T (Specific, Measurable, Attainable, Relevant, and Timely) goals play an important role in modern management discipline, what’s the pros and cons of setting & measuring S.M.A.R.T goals, and how to manage it effectively?
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June 11, 2017 at 11:07AM
from Pearl Zhu
Watch the interview of Ravindra Rao, AVP-Commodity Research at Anand Rathi Commodities with Manisha Gupta on CNBC-TV18. He spoke about the current trend in commodities market.
