An impressive number of management tools are available to help businesses optimize performance and surpass their competition, but research has determined that only 30 percent of these tools achieve the desired results. In Beyond Performance Management, Jeremy Hope and Steve Player review 40 of the best known tools, from mission statements, strategic planning, enterprise risk management, and key value drivers, to lean manufacturing, six sigma, and outsourcing and offshoring. They explain how to select the best tools for specific organizational needs, how to employ them correctly, and how to obtain the most value from each. Beyond Performance Management offers critical insights on these management tools and the knowledge that business leaders need to use them effectively.
Advocates of management tools and practices claim great results, as long as they are utilized correctly. Examples include:
• Examining the strengths and weaknesses of each tool or practice before putting it to use. The best approach is to look at the research, talk to other users, and beware of exaggeration and oversimplification.
• Thinking through an objective business case before investing in a particular tool or practice. It should meet customer needs, build needed capabilities, support strategic objectives, and its side effects and costs should be known.
• Obtaining C-level sponsorship. Getting the CEO, CFO, CIO, or COO to support the project improves chances of success because line managers will participate more positively if they know it has the backing of senior staff.
• Making a total commitment. Limited experimentation without leadership's support and without sustaining resources almost guarantees disappointment.
• Involving key staff in the implementation process. Successful results will come from engaging the people that the tool will affect and ensuring that they are kept informed of its progress.
• Communicating continuously. Good communication is critical to the success of the project and this means keeping goals and objectives simple and straightforward and ensuring that leadership provides consistent messages.
• Remembering that patience is important. Many failed executions are the result of leaders expecting results in too short a period. To be effective, most tools and practices can take years before their benefits are fully realized.
Beyond Performance Management is a critical evaluation of 40 of the top business performance tools and practices in current use. Jeremy Hope and Steve Player provide guidelines to help leaders choose the right tools, use them effectively, and avoid the pitfalls of misguided selections and poor implementation strategies. The book features charts, tables, and anecdotes from business leaders and academics. It would be of interest to business leaders and students of business management who need to understand the theory and practice of these tools and how they can be employed to achieve superior business performance. Each chapter is independent and can be read in any order. Also included is an extensive bibliographic notes section.