From ‘Performance Management in the Midmarket’ by the Aberdeen Group…
The Aberdeen Group analyzed the aggregated metrics of surveyed companies to determine whether their performance ranked as Best-in-Class, Industry Average or Laggard. In addition to having common performance levels, each class also shared characteristics in five key categories:  Process – the approaches they take to execute daily operations;  Organization – corporate focus and collaboration among stakeholders;  Knowledge Management – contextualizing data and exposing it to key stakeholders;  Technology – the selection of appropriate tools and the effective deployment of those tools; and  Performance Management – the ability of the organization to measure its results to improve its business.
The first of 5 key categories is process, but process management is woven throughout.
Does your company have a formal process in place for incorporating operational performance metrics into day-to-day operations? Has your company defined processes in place for day-to-day operations? Has your company implemented any process improvement strategies? How do you know if they were successful? Do you have any metrics in place? If your answers are ‘no’, I believe that you are not alone.
During this current economic downturn, companies are looking at strategies to increase revenues, decrease costs and improve customer relationships. The demand for products and services is reduced and there are more competitors, how will you set yourself apart from the crowd?
Companies are under pressure to access, review, analyze and act upon events and information in order to become more agile as they work to meet day-today operational and financial performance goals. Companies are looking to agility and innovation to set them apart from the crowd.
What steps is your company taking to be a leader?
Keeping it Real!