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Handbook of Corporate Performance Management by Mike Bourne, Pippa Bourne

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Chapter 20

Bringing It All Together

20.1 INTRODUCTION

In this final chapter, we will bring together the content of the book by discussing three elements: performance measurement, performance management and performance leadership.

20.2 PERFORMANCE MEASUREMENT

You need to track three elements of performance with your measurement system:

1. You need to monitor the performance of your underlying processes. You should do this to follow how well they are performing and how well your customers perceive the products and services you are delivering. Doing this should enable you to manage your current performance on a day-to-day basis, sensing and responding where appropriate.

2. You need to monitor your environment. You should do this so you are aware of changes that are happening and so you can plan your strategy with these changes in mind. Tracking the environment should help ensure that you are not taken by surprise by unfolding events. You should also be comparing your performance with others, so your comparative performance is known and understood.

3. You need to monitor the implementation of your strategy. People often become carried away by delivering their short term goals, so it is essential that you not only create a long term strategy but also track the progress of its implementation.

What we are proposing is that you need to measure your performance today, track changes that could affect your business in the future and monitor the implementation of your strategy (your path ...

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