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Performance_Management(绩效管理英文论文)

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2021-02-11 20:54
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2021年2月11日发(作者:isler)



Guo Fengwu


June 30, 2014



Performance Management:




Enhancing Execution Through a Culture of Dialogue






Peter is Chief Executive Officer for a medical supply multinational that recently


crafted a new strategy to counter competitive threats. The plan stressed the need


to cut cycle time, concentrate sales on higher-margin products and develop new


markets.



Four months after circulating the plan, Peter did a “walkaround” to see how things


were going. He was appalled. Everywhere Peter turned people, departments



whole business units


—simply didn’t “get it.”




<1>


First surprise: Engineering. The group had cut product design time 30%,


meeting its goal to increase speed-to- market. Good. Then Peter asked how


manufacturing would be affected. It turned out the new design would take much


more time to make. Total cycle time actually increased.


“Our strategic plan


message is not really getting through,”


Peter thought.



<2>


Second surprise: Sales. The new strategy called for a shift



emphasize


high margin sales rather that pushing product down the pipeline as fast as possible.


But just about every salesperson Peter spoke to was making transactional sales to


high-volume customers; hardly anyone was building relationships with the most


profitable prospects.


Sales is doing just what it’s always done,


Peter thought


.




<3>


Worst surprise: Even his top team, the people who’d helped him craft the


strategy, was not sticking to plan. Peter asked a team member: “Why are you


spending all your time making sure the new machinery is working instead of


developing new markets?”




“Because my unit’s chief goal was to improve on


-


time delivery,” he answered.




“But what about


company



goals?” said Peter. “We came up with a good plan and


communicated it v


ery clearly. But nowhere it isn’t being carried out. Why?”




Hay Group, Inc. All rights reserved


1


Many organizations create good strategies, but only the best execute them effectively.


Fortune magazine estimates that when CEOs fail, 70% of the time it’s because of bad


execution.


1


Weak execution is pervasive in the business world, but the reasons for it are


largely misunderstood. Why is it that no one in Peter’s organization was acting in sync


with the strategy? Unless we understand the reasons, we can’t hope to solve the problem.




Imagine


someone hitting a tennis ball. When the brain says “hit the ball,” it doesn’t


automatically happen. The message travels through nerve pathways down the arm and


crosses gaps between the nerve cells. These gaps, or “synapses,” are potential breaks in


the connection. If


neurotransmitters



don’t carry the message across the gap, the message


never gets through, or it gets distorted. When that happens, either the arm doesn’t move


at all, or it moves the wrong way.



Creating a “culture of dialogue”



Just like a nervous system, organizations also have gaps that block and distort messages.


The secret to effective strategy execution lies in crossing hierarchical and functional gaps


with clear, consistent messages that relay the strategy throughout the organization.


Sound simple? It’s not. The reason is that the “neurotransmitters” in organizations are


human beings



executive team members, senior managers, middle managers and


supervisors


—whose job it is to make sure that people’s behavior is aligned with the


overall strategy. Doing what it takes to achieve alignment is very difficult. It is what


Ram Charan calls, the “heavy lifting” of management, and it’s the key to executing


strategy.



As we’ll see later, there is an important difference between companies tha


t successfully


align behavior with strategy and those that do not. Companies that effectively execute


strategy create a “culture of dialogue.” A culture of dialogue encourages pervasive two


-


way communications where individuals and groups 1) question, challenge, interpret and


ultimately clarify strategic objectives; and 2) engage in regular performance dialogue to


monitor behavior and ensure it is aligned with strategy.



Three keys to managing performance


A culture of dialogue doesn’t happen instantly, an


y more than a fluid tennis stroke does.


It takes practice, persistence and hard work. So how exactly can leaders ensure that


strategy messages go all the way down the line



that the tennis ball gets hit correctly?


The three keys to managing performance effectively are:



1.



Achieving radical clarity by decoding strategy at the top.


Many organizations


think



they send clear signals but don’t. In some cases, managers subordinate broad


strategic goals to operational goals within their silos. That’s what happen


ed with


Peter’s top team. Elsewhere, top team members often have too many “top”


priorities


—we’ve seen as many as 100 in one case—


which results in mixed signals


and blurred focus. Strategy decode requires winnowing priorities down to a


manageable number



as little as five.




1



“Why CEOs Fail,” by Ram Charan and Geoffrey Colvin,


Fortune


magazine, June 21, 1999.


Hay Group, Inc. All rights reserved


2


2.



Setting up systems and processes to ensure clarity.


Once strategy is clear,


organizations must create processes to ensure that the right strategy messages cascade


down the organization. These include: strategy-centered budget and planning


sessions; staff and team meetings to discuss goals; performance management


meetings; and talent review sessions. Dialogue drives all these processes. Each


represents a “transmitter opportunity,” where strategic messages are conveyed and


behavior is aligned with goals.



3.



Aligning and differentiating rewards.




Leaders must make sure rewards encourage


behaviors consistent with strategy, which sounds easy but isn’t. Differentiation is


about making sure that stars get significantly more than poor performers. But almost


everywhere managers distribute rewards more or less evenly. As we’ll see, lack of


effective performance dialogue is a key contributor to dysfunctional reward schemes.



We list these three items separately but they are, of course, interconnected. Systems and


processes depend on clarity from the top. Differentiation and alignment of rewards


depend on managers using performance systems effectively. Dialogue is the glue that


holds it all together. But not just any dialogue will do. It must be dialogue with purpose,


focused on performance.



Link to company valuation


Companies that manage performance well



General Electric comes to mind



have


higher market valuations. Why? Because, more and more, institutional investors view


strategy execution as a vital factor influencing stock prices.



Just a few years ago institutional investors relied almost exclusively on financial


measures for company valuations. Now 35% of a market valuation is influenced by


non-


financial,


intangible factors, according to a study by Ernst & Young.


2


The study showed


that


“execution of corporate strategy”


and


“management credibility”


ranked number one


and number two in importance to institutional investors out of 22 non-financial measures.


John Inch, a managing director and analyst at Bear Stearns notes that in some sectors,


such as diversified industrial companies, intangibles account for even more



up to half a


company’s value. “You can take even a mundane asset and inject good management and


have something pretty strong


,” says Inch.




2


Based on a study conducted by Sarah Mavrinac and Tony Siesfeld for the Ernst & Young Center for


Business Innovation.


Hay Group, Inc. All rights reserved


3

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