Tagged ‘Business Performance Management’
As management practice becomes increasingly complex, the professionals within the sector have embarked on a program to codify and therefore disseminate basic tenets of business performance management. It is no longer enough to manage by instinct and talents. Executives are requires to attend training courses and could even obtain qualifications in management. This article will look back at the brief history of business performance management.
Even before it became a business concept that is we there were applications of business performance in a non-office environment. For examples Tzu framed it in terms of understanding the relative weaknesses of the opponent and competitor.
This understanding of business performance management was particularly useful when undertaking warfare. It would involve the inversion of the formula so that one could examine their own organization and apply the same rigorous standards that they would apply to an enemy. It still involved the essential ingredients of data gathering which was then deciphered and turned into practical information. Read the rest of this entry
If a company is running well and making profits, then chances are that the senior executives are well acquainted with business performance management. They may not have a technical definition of the concept but will have acquired the knowledge and skills to apply it practically within their areas of responsibility. There are a number of related terms that have been used to explain business performance management (BPM).
These include but are not limited to operational performance management (OPM), business performance optimization (BPO), corporate performance management (CPA) and enterprise performance management (EPM). Despite the difference both operate on one principle which attempts to increase the efficiency and profitability of the organization right up to the optimum level. Read the rest of this entry
Processes are the story that describes the reality of the business performance management program. It is therefore important to ensure that the responsible officers are aware of the processes and have the tools or aptitudes that are required to monitor process and manage it effectively. The failure of a business performance program is a direct result of failing to manage processes. Woe to those who take a perfunctory attitude. The goals will mean nothing if you cannot competently map the journey.
The first thing to recognize that process means that activities are interrelated. The negligence of one part will lead to the collapse of other parts. The need to keep a strategic perspective to any activities will become even more acute if there is a particular problem with a process that requires undue attention from the managers. If a consequence of this attention is that other parts of the project fail, then it will show a lack of attention to the idea of strategic oversight.
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