Tag Archives: shareholder
What does Business Performance Management really means ?
Every company has a vision. In order to get closer to that vision, the company forms goals – a few short term goals and a few long term goals. Once the goals are set, the company officials chalk out an execution schedule to make the process of achieving their goals more organized and clear. This process of creating a strategy is called business performance management. It is employed by almost all companies, all over the world. In big conglomerates and businesses who operate in multiple streams and levels, this management practice is of prime importance.
What is involves
The whole process of business performance management is broadly planned in three stages although their execution happens simultaneously. The basic step is, of course, of zeroing in on a company goal. Once the goal is isolated, various resources needed in order to reach the goal are decided. After the basic preparation is done, the report is presented to the higher level officials of the company who give their feedback. This feedback is incorporated in to the report and the whole execution plan is finalized. This is a detailed analytic approach to goal achievement.