Strategic Performance Management

In order to be successful, organizations need to become and stay world-class in everything they do. It needs to have the right information at the right time to make the best decisions and take the best actions. It needs to know if strategic objectives and goals are going to be met and if it is able to satisfy the stakeholders of the organization. To become a high performance organization, a world-class performance management process and system are a must. Strategic performance management can be defined as the process that enables an organization to deliver a predictable contribution to sustained value creation. A world-class strategic performance management process consists of excellent strategy development, budgeting/target setting, performance measurement, performance review and incentive compensation sub-processes. These sub-processes are integrated in a simple way, to create the performance driven behavior of employees needed to become and stay world-class. There is a growing conviction among managers and researchers that traditional performance management methods are flawed and insufficient for keeping competitive in today’s technology driven information age. This course provides the framework necessary for developing a world-class performance management process.