Tuesday, May 04, 2010

Profile of a Healthy Company III - Performance Management

Performance Management is the most important of the six Critical Functions that determine the competitiveness and bottom line performance of companies. (Think of it as an attribute of corporate "Personality") It is one of the three identified in studies by McKinsey and LSE as generating a 40% increase in financial returns when improved by 20%.

Behaving like a human attribute, it effects - and is effected by - the other corporate forces. Last month's attribute, Acknolwedgement of Work, plays a key role in its performance and effectiveness.

It is a complex function, comprised of  more than a dozen elements. These include Action Plans, Follow-Up, and Strategic Vision. For a listing, with definitions where appropriate, of the elements we address in our Corporate 360-L please contact us via dianen@managementconsultants.com
The value of Performance Management can also be estimated approximately by interviewing managers and supervisors.

If you would like to know more about our business transformation service that begins with and triggers changes in these corporate forces, please email us or call 847-599-9960.
There is no obligation.

Tom FitzGerald (Author: Fire in the Corporate Belly)
FitzGerald Associates, Est. 1976    www.ManagementConsultants.com     
Lake Forest, Illinois - Phone  847-599-9960