Synopses & Reviews
Simplify strategy and get tangible results Managing Performance in Turbulent Times"In a business environment in which variability and change are the new norms, traditional static business models and performance measurement systems are no longer adequate. Barrows and Neely provide a comprehensive, proven process for measuring and managing performance in turbulent environments that moves beyond existing performance measurement frameworks to encompass the dynamic management of the entire business execution cycle."
—Christopher D. Ittner, Ernst & Young Professor of Accounting, The Wharton School, University of Pennsylvania
"Performance management in a high-tech company is an ongoing battle of trying to stay ahead of tomorrow's market while delivering today's results. The PM4TE process ensures the right focus is maintained on the critical aspects of performance management that enable successful execution of both."
—Rick Reidy, Chief Executive Officer, Progress Software
"Managing Performance in Turbulent Times provides the right approaches to improve the way strategies are modeled, projects are managed, progress is monitored, and decisions are made in today's dynamic and uncertain environment. The approaches are highly adaptable and can be applied in any organization to get rapid results."
—Dr. Mark L. Frigo, PhD, CPA, CMA; Distinguished Professor of Strategy and Leadership; Director, Strategic Risk Management Lab, Kellstadt Graduate School of Business, DePaul University; and author of Driven: Business Strategy, Human Actions, and the Creation of Wealth
"We use the PM4TE process at Hubbell Lighting to focus our management team's attention on the critical objectives, performance metrics, and projects that drive our business. In an industry environment where the speed of change is increasing rapidly and competition is globally intense, we've been able to successfully adapt our organization and deliver valuable results."
—Scott H. Muse, President, Hubbell Lighting
Synopsis
Straightforward playbook for executing world-class strategy for tangible resultsDesigned with three key ideas: leverage the tools that are working, simplify the model, and make the content readable for managers, Managing Performance in Turbulent Times is a road map for the modern strategy manager. Through their simplified execution process the authors—performance management experts—show executives how to get results and execute even in the most difficult conditions.
- Addresses importance of adaptability to change within today's business environment
- Explores the environmental turbulence that constantly confounds virtually all organizational systems, with workable solutions
- Provides a streamlined execution process any organization can use to improve business results
Managers need tools to do their jobs better. Filled with proven solutions, this book reveals how to get results through successful strategy execution, presenting a process that will help your organization execute strategy in a simplified, efficient manner.
Synopsis
Managing Performance in Turbulent TimesAnalytics and Insight
Clear yet comprehensive, Managing Performance in Turbulent Times eliminates complex jargon and reveals what it takes to be an effective, modern-day manager. Offering expert know-how, this timely book equips you to map your future progress to help your business perform, even under the most difficult conditions. Keeping three ideas in mind—leveraging the tools that are working, simplifying the model, and making the content readable for managers—this book makes the management process much easier to maneuver and maintain.
Streamlining the process of executing on strategy to bring tangible results to any organization, Managing Performance in Turbulent Times looks at:
The importance of adaptability to changein today's business environment
The emergence of turbulence today
The environmental turbulence facing organizational systems
A streamlined execution process to improve business results
The tools and techniques emerging to help your business not only endure, but thrive, in turbulence
Highlighting a completely new approach to performance management, the authors introduce their unique PM4TE model, specifically engineered for use in turbulent settings where simplicity, speed, and adaptability are at a premium. Coupling the best ideas in performance measurement with the challenges of turbulent environments, the PM4TE model is an effective complement to your existing performance management initiatives.
Tried-and-true performance management approaches and management responses now have limited efficacy. Together with a companion website offering tools, checklists, and templates, this essential resource illuminates the key points necessary for your management success. An indispensable tool for managers interested in taking any business to new heights, Managing Performance in Turbulent Times explains how you can get a leg up on the competition and advance your organization.
About the Author
Ed Barrows (
[email protected]) is a management consultant with over twenty years of business performance management and process improvement experience. He has held professional services positions with Deloitte, GE Capital, PricewaterhouseCoopers, and Balanced Scorecard Collaborative/PalladiumGroup, where he was a vice president responsiblefor executive education. His clients include Alcon Labs, Energizer, the FBI, Fujifilm, Hubbell Lighting, Ricoh, and dozens of other organizations in the public and private sectors.
Andy Neely ([email protected]) holds joint appointments at the University of Cambridge and Cranfield School of Management. Andy is widely recognized as one of the world's leading authorities on organizational performance measurement and management. He has authored or coauthored over 100 books and articles, including Measuring Business Performance and The Performance Prism.
Table of Contents
Foreword xi
Preface xv
Acknowledgments xxi
PART ONE Turbulence and Performance Management Today
Chapter 1 Understanding Turbulence 3
The World Is More Turbulent Today 3
Understanding Turbulence 10
Effects of Turbulence on Organizations 14
What We’re Seeing in Practice Today 16
Summary 18
Case Study: The Decline of the Handleman Company 18
Notes 20
Chapter 2 Performance Management Today 21
Performance Management—Still an Emerging Discipline 21
Shortcomings of Today’s Performance Management Systems 25
Principles of Managing Performance in Turbulent Times 28
Performance Management for Turbulent Environments: The PM4TE Process 31
Summary 37
Notes 38
PART TWO The Performance Management Core Process for Turbulent Environments
Chapter 3 Model Performance 41
Why Model Performance during Turbulent Times? 43
Benefi ts of Modeling Performance in the PM4TE Process 50
Steps to Modeling an Organization’s Performance 51
Critical Success Factors 60
Summary 61
Case Study: Ricoh Corporation 62
Notes 66
Chapter 4 Manage Projects 67
Why Manage Projects during Turbulent Times? 69
State of the Art 69
Benefi ts of Managing Projects in the PM4TE Process 75
Steps to Managing an Organization’s Vital Projects 77
Critical Success Factors 83
Summary 85
Case Study: Hubbell Lighting, Inc. 85
Notes 91
Chapter 5 Measure Progress 93
Why Measure Progress during Turbulent Times? 95
State of the Art 95
Understanding Measurement Today 96
Performance Measurement Frameworks 98
Benefi ts of Measuring Progress in the PM4TE Process 104
Steps to Measuring Progress 106
Critical Success Factors 111
Summary 113
Case Study: British Airways 113
Notes 118
Chapter 6 Make Decisions 119
Why Make Decisions during Turbulent Times? 120
State of the Art 122
Benefi ts of Making Decisions in the PM4TE Process 130
Steps to Making Decisions 132
Critical Success Factors 135
Summary 136
Case Study: 1st Marine Logistics Group, United States Marine Corps 137
Notes 141
PART THREE Performance Management for Turbulent Environments Model Enablers
Chapter 7 Strategic Intelligence 145
Why Strategic Intelligence Is a Model Enabler 147
Understanding Strategic Intelligence 149
Critical Success Factors 159
Summary 160
Case Study: Federal Bureau of Investigation 161
Notes 166
Chapter 8 Continuous Conversation 167
Why Continuous Conversation Is a Model Enabler 169
Understanding Continuous Conversation 171
Critical Success Factors 177
Summary 178
Case Study: Google 179
Notes 183
Chapter 9 Accelerated Learning 185
Why Accelerated Learning Is a Model Enabler 187
Understanding Accelerated Learning 189
Critical Success Factors 197
Summary 199
Case Study: Progress Software 199
Notes 203
Chapter 10 Organizational Alignment 205
Why Organizational Alignment Is a Model Enabler 207
Understanding Organizational Alignment 209
Critical Success Factors 219
Summary 220
Case Study: Altra Industrial Motion 221
Notes 226
Chapter 11 Engaged Leadership 229
Why Engaged Leadership Is a Model Enabler 231
Understanding Leadership Engagement 233
Critical Success Factors 240
Summary 241
Case Study: RSA Security 241
Notes 246
PART FOUR Making the Model Work
Chapter 12 Making It Work 249
The Logic of Cycles 251
Stage 1: Performance Management Cycle 253
Stage 2: Execution Management Cycle 255
Stage 3: Model Enablers 259
The Performance Management in Turbulent Environments Assessment: Determining the Current State of the Model 260
Summary 260
Appendix: Deloitte Enterprise Value Map Excerpt 263
About the Authors 265
Index 267