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Strategy is not just a Theoretical Design...
It takes an idea on a journey from conception to realisation of intended Benefits
Performance Management is a strategic approach, which seeks to get the most
out of the resources available to an operation. In essence it is the activity of tracking
performance against targets and identifying opportunities for improvement.
The performance of an organisation depends on the contribution of activities at all levels
- from top management policy development through to efficiently run operational lines.
Management by objectives should demonstrate that:
- The organisation adheres to a set direction.
- That action are focused on outcomes that meet business objectives.
- Established methodology to measure progress is in place.
- Ensure that performance problems are promptly detected and remedied.
Performance management (PM) includes the processes used to manage business performance
(such as strategy formulation, forecasting and budgetary control); the methodologies that
drive some of the processes (the balanced scorecard); and the metrics used to measure
performance against strategic and operational performance goals.
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