- 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.
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.
Friday, March 4, 2011
Managing Change for the better
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How to manage change
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