- ROE objectives / Du Pont Chart - gap analysis with benchmarked company.
- Critical Performance gaps - (weaknesses)
- Critical success factors - Key result areas - (strengths)
- The BSC Metrics / The strategic maps with performance metrics
- Cascaded to lower unit
- Individual scorecard
- Performance evaluation through KPIs
- Performance evaluation through benchmarking
- Best Practices and training (competency gaps)
- Introduce Innovation at performance planning discussions.
Gaps are identified by comparing the performance of the company against a bench marked company in the same industry. Positive performance indicate strengths whereas the opposite shows weaknesses. Thereafter, proper winning strategies could be formulated and best practices could be recognized and adopted. All the above could be drawn objectively from the financial statements rather than relying on subjective opinion surveys which are popularly but wrongly applied in TNA.
Monday, March 21, 2011
PERFORMANCE MODELS AND TEMPLATES
Friday, March 4, 2011
Managing Change for the better
- Where are we now within the industry?
- Evaluate past performance to understand our SWOT.
- Where we want to go?
- defined SMART goals and cascade them to the lowest unit.
- How do we reach there?
- our strategies
- business modelling
- How do we measure our progress towards our goals?
- milestones
- What are the key improvement areas needed to achieve the goals? -
- key result areas
- Measure past and potential key performance areas-
- Key Performance Indicators
- How do we integrate our resources and strategies to achieve the goals?
- BSC Perspectives
- Evaluate performance for better change.
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