Performance Management Made Easy For You
A business owner’s fundamental role is to grow a business to increase revenue, profits and wealth. In order to do this you need measure and control performance. The art of excelling in any business is executing a relevant strategy and success business owners like Ron Sturgeon passionately tell you that it is all about execution. performance management is the essence of our Peer benchmarking ReviewTMwhere you will not only learn from your peers what is important and why they outperform you in certain aspects of your business but it will set your goals help set your goals for the next meeting when you will report back to your peers on your performance. Performance management is as much about measuring performance using performance indicators as it about developing a relevant business strategy and executing it. Performance management is analogous to flying a high performance jet or driving a high performance motor vehicle in a competitive environment where skill, talent and training can only be actualized with measurement and feedback of relevant information. In today’s fast moving world, businesses need highly informative dashboards to get them the relevant information they need on a timely basis so that frequent calibrating adjustments can be made along the way to optimize performance. Just think of what a pilot of NASCAR driver’s life would be without a dashboard. Peer benchmarkingTM has accordingly developed our peer review dashboardTM which helps business owners with their fundamental role of Performance management. The peer review dashboardTM allows you not only to measure yourself against your peers but it also allows you to quickly detect the root cause of underperformance. It also enables you to develop forward looking scenarios with a clear visualization of what your business will look like in the future.
Measuring Performance To Improve Overall Productivity
Measuring performance is very much an art and a science. In order measure performance one needs to what to measure, how frequently the information is required and then how to measure it and what tools and delivery mechanisms to use to measure it. A business owner not only needs to know how he is tracking against agreed performance indicators but they also needs to know what a range of possible scenarios could mean to their business going forward. Today business owners are very fortunate as we now operate in an information era where data can be very efficiently sourced and simulated into meaningful information with dynamic capabilities of performing insightful ‘what-if’ and scenario analysis. Our growth matrix optimizerTM and Peer Review DashboardTM are some of the great enabling tools we have developed for this purpose. Dashboards are rapidly becoming the tool of choice for business owners seeking to better manage the performance of their business. They allow you to source relevant performance indicators on an efficient and timely basis so that you can exercise better performance management in your business. At a Peer benchmarking ReviewTM you get an in-depth insight into performance management issues as this is the very essence of these group meetings.
Performance Indicators To Keep Your Overall Management More Organized
Performance Indicators are the very essence of performance measurement. Good performance indicators are both good forward and backward views of performance. performance indicators should allow efficient tracking of breakdowns in performance or suboptimal performance but equally importantly they should be excellent predictors of where you heading so that you have the confidence that if you stay in line with your performance indicators that your desired overall performance will be achieved. This is not as overwhelming as it may seem. Astute business owners know they only have to ask three pertinent questions to get to the core of any issue. Similarly your Performance Indicators should do the same for you. The very essence of our peer benchmarking reviewTM is performance indicators. You as part of a selected group of non competing peers will get together in a facilitated forum to learn how to grow you business by learning from each other. Each one of you will be required to bring along your key performance indicators discuss them with your peer group. Very quickly it will become apparent how you compare to your peers and why one of your peers excels in particular aspect of their business. Our specially developed Peer Review DashboardTM is a great enabling tool for this purpose. Your also leave the meeting with our benchmarking path forwardTM kit to help you with the implementation of your identified growth strategies.
You are guaranteed to leave with a set of relevant Performance Indicators to improve Performance Measurement for the overall Performance Management to grow your business.