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PART B: STRATEGY, MANAGEMENT CONTROL AND PERFORMANCE MANAGEMENT :star: …
PART B: STRATEGY, MANAGEMENT CONTROL AND PERFORMANCE MANAGEMENT
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LEADING AND LAGGING MEASURES OF PERFORMANCE
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Limitations of Financial Measures:
Focus on short-term performance, potentially neglecting (bỏ qua) long-term goals.
Are lagging indicators, providing information after events have occurred.
Lagging Measures:
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Reflect past performance.
Examples
: Sales revenue, ROI.
May be too late to take corrective action.
Leading Measures:
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Provide current insights and can predict future performance.
Examples
: Customer satisfaction, number of sales calls.
Help in making proactive adjustments.
Operations Performance Measures:
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1. Quality Pass Rate:
The % of products or services that meet quality standards without needing rework or corrections.
High quality pass rates mean fewer defects and higher customer satisfaction.
2. Dependability (đáng tin cậy):
How reliably the operations function delivers products or services on time and as promised.
Dependable operations build trust with customers and reduce delays.
3. Speed:
The time it takes to complete a process or deliver a product/service.
Faster operations can lead to quicker customer service and higher efficiency.
4. Flexibility:
The ability to adapt to changes, such as varying customer demands or new product introductions.
Flexible operations can better handle unexpected changes and meet diverse customer needs.
5. Cost
The expenses involved in running the operations, including materials, labor, and overhead.
Lower costs can lead to higher profitability and competitive pricing.
FRAMEWORKS FOR PERFORMANCE MANAGEMENT
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French tableaux de bord
Early performance measures used in French factories, focusing on
causal models
(how different factors or variables influence each other. Think of it like a chain reaction where one event leads to another.) at each organizational unit level.
Performance Pyramid (Lynch and Cross, 1991)
Descending objectives and ascending measures (mục tiêu giảm dần và các biện pháp tăng dần).
Corporate vision cascades (lan tỏa) through business units, processes, departments, work groups, and individuals.
Market performance (customer satisfaction, flexibility, quality, delivery) and financial performance (flexibility, productivity, cycle time, waste).
Results & Determinants (các yếu tố quyết định) Framework (Fitzgerald, Johnston, et al. 1991)
Results (competitiveness, financial performance) vs. determinants (quality, flexibility, resource utilization, innovation).
EFQM Excellence Model
5 enablers
: leadership, people, policy and strategy, partnerships and resources, processes.
4 result areas
: people, customer, society, key performance.
Emphasizes innovation and learning.
Six Sigma
Developed by Motorola to reduce variability in processes.
Uses DMAIC
methodology: define, measure, analyze, improve, control.
Business Scorecard elements
: leadership and profitability, management and improvement, employees and innovation, purchasing and supplier management, operational execution, sales and distribution, service and growth.
Performance Prism (Cranfield University):
5 facets
: stakeholder satisfaction, stakeholder contribution, strategies, processes, capabilities.
Focuses on stakeholder satisfaction and takes a multi-stakeholder approach, reflecting CSR importance.
Business Model Canvas
: Marketing-oriented strategic framework.
Balanced Scorecard
: Financially oriented approach )một cách tiếp cận định hướng tài chính hơn).