Performance-based Firm: Three Main Benefits

According to Andrew Spanyi

1. Clarity on strategic direction

2. The alignment of your firm's resources

3. Increased discipline in daily operations

Performance Management Can Help Your Company

  • Turn disconnected data into eye-opening information; turn information into valuable insight; turn insight into profitable action

  • Develop employees  >>>

  • Balance major tensions within your firm  >>>

  • Plan, measure, and enhance progress more effectively

  • Enhance effectiveness, reduce costs and improve productivity across business units, operations, or product lines

  • Improve customer loyalty through better customer insight, value creation, and service

  • Identify and capitalize on trends

  • Identify and respond more quickly to changing business realities

   

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Key Benefits of an Effective Performance Management System

"I am a believer in the adage – performance leads to recognition, recognition leads to respect and respect leads to power."  ~ Narayana Murthy

Performance management allows you turn data into profitable action more effectively and faster. It allows you create greater value for all stakeholders and outperform your competitors.

3 Strategies of Market Leaders Download PowerPoint presentation, pdf e-book

When a performance management system is operated effectively, there are great benefits for both individuals and organizations. It creates organizational focus and alignment and a shared mental model for developing, leading and managing the business in a way that coverts strategic objectives into effective and synergistic business practices.

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According to the Institute of Performance Management, an effective performance management system:

  • Provides the basis for managing the business of today and for developing it into the future – through the performance of people

  • Gives the means for evaluating and improving both individual and company performance against pre-defined business strategies and objectives

  • Develops employee understanding of what needs to be achieved  >>>

  • Helps all employees to improve corporate performance

  • Helps all employees to be rewarded on the basis of their contribution   >>>

Learning SWOT Questions

  

Naryana Murthy advice

Performance leads to recognition. Recognition brings respect. Respect enhances power. Humility and grace in one’s moments of power enhances dignity of an organisation.

Naryana Murhty

Infosys

 

 

 

 

     

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