Performance Management & Strategic Planning

STRATEGIES THAT WORK 

Strategic Management: four critical processes

  • *Clarifying and translating vision into strategy – identifying strategic objectives and capturing them in a strategic map. This requires the business leaders to reach consensus on what the strategic objectives truly are, and that all objects are linked to deliverables.
  • *Communicating strategic objectives and measures and linking them to Operations – this includes establishing a two -way communication with stakeholders to encourage dialogue to refine processes and promote feedback.
  • *Planning targets to align strategic involves – including identifying targets of each of the objectives measured by the KPIs. Ideally, individual targets are set for strategic objectives and projects, which are in turn linked to the larger strategic objectives.
  • *Enhancing strategic feedback and learning – this includes learning from performance information and using the findings from the balanced scorecard to refine decision making.

PERFORMANCE MANAGEMENT

Implementing the strategy monitored by the Balanced Scorecard and Performance Indicators,  company-wide, should be the key to the successful  realization of the strategic vision and goals which  will result in:

  • Improved processes
  • Motivated and educated employees
  • Enhanced information systems
  • Monitored progress
  • Greater customer satisfaction
  • Increased financial usage

OUTCOMES

  • 3-5 year strategy map
  • Corporate KPIs & Targets
  • 3-5 year Corporate BSC
  • Operational objectives

STEP BY STEP

  • Information Gathering and SWOT analysis Identification of critical issues facing the organisation
  • Development of a strategic vision statement that  its future direction
  • Mission statement review /  revision
  • Development of Strategic Goals
  • Formulation of objects  for each goal
  • Preparation of the operational plan based on the strategic plan
  • Balanced Score Card which is the visual representation of what is integral to achieving the vision and mission.

PLAN OF ACTION

  • Thoroughly advanced planning workshop,  agenda development, and facilitation plan, Pre-meeting and interview with Key stakeholders to understand perspectives and issues.
  • Provide a  change agenda and formulate a coherent strategy with Vision, Mission, Values, and corporate  objectives of the organization.
  • Review and enhance current strategy and performance framework & corporate BSC. Update & refresh urgent corporate strategic plan.
  • Align core operation and support units using KPI  management & BSC.

KPIS & BALANCED SCORECARD 

The Balanced Scorecard is a strategic planning and management system used to align business actives o the vision statement of the organization.  balanced scorecards have long been used in strategic business management to track KPIs (key performance indicators) and they are designed to provide a framework to manage resources. There re our basic viewpoints or perspectives to take with he KPI balanced scorecard:

  • Financial perspective: tracking financial performance: Return On Investment
    Cash Flow
    Return on Capital Employed
    Financial Results (Quarterly / Yearly)
  • Customer perspective: tracking customer satisfaction, attitudes, and market share goals.
    Delivery performance to customer
    Quality performance for customer
    Customer satisfaction rate
    Customer percentage of the market
    Customer retention rate
  • Internal process perspective: operational goals needed to meet customer objectives.
    The number of actives per function
    Duplicate actives across functions
    Process alignment Process bottlenecks
    Process automation
  • The learning and growth or innovation perspective: intangible drivers for future
    Is there the correct level of expertise for the job? *Employee turnover * Job satisfaction
    Training/Learning opportunities