week 8: performance management Flashcards
performance managment
identifying strengths and weaknesses, and revealing the ways in which overall organization performance can be improved.
Tells us what they are good at and how they/we can become better.
what are the context-dependent dimensions of performance management
- results/outputs
- inputs
- time period
- specific contributors to competitive advantage
- assessment of inputs as they relate to outputs
- human factors
results/outputs
what are the outputs? Sales etc… what is the organization trying to achieve
inputs
human resources, physical resources etc… that go into the functioning of your orgnaization
time period
how long is the strategy? Affects the expectations of performance and how we measure it
specific contributors to competitive advantage
What makes the organization unique
assessment of inputs as they relate to outputs
How many working hours does it take to achieve or create the product, relating your inputs to our outputs
human factors
who is working in the organization, who is leading the organization, what is their leadership style
the performance management process
Has the external (opportunties and threats) and internal (strengths and weaknesses)
the performance management process
- planning and goal setting
- performance monitoring
- performance appraisal
planning and goal setting
our stragetic pillars and objectives
performance monitoring
it is on going
performance appraisal
this is done at the end
measuring performance
- Key parameters of performance (KPPs)
- Key performance indicators (KPIs)
Key parameters of performance (KPPs)
situation- specific, mission, organization size and complexity, staff
Key performance indicators (KPIs)
have to be able to measure them, quantifiable goal achievement outputs, sales revenue, number of new memberships, transition time between games.
Strategic pillars
long term goals
Organization size and complexity
organizations that are larger might be able to evaluate a more complex performance or strategy
performance management approaches
Input-output perspective
Scorecard approach
Stakeholder management → “partner management”
input measures
resources being used (i.e. cost, time, skills, what you are putting into the organization)
output measures
what is produced (ie. profit, level of satisfaction, playin time, memberships, what are you profit levels, satisfaction levels etc)
input-output perspective
amount of outputs achieved from inputs
scorecard approach 4 dimensions
- financial perspectives
- customer perspective
- internal process perspective
- learning perspective
financial perspective
sales, cash flow, return, profit
customer perspective
market share, sales/segment, customer acquisition, retention, satisfaction
internal process perspective
systems, plans
learning perspective
re-skilling employees, enhancing IT
stakeholder management
People or groups who affect or are affected by the organization
