The end use of any information is to drive the business performance.
Over the years the focus is getting shifted from strategy formation
to strategy execution. The journey starts from a well-laid out strategy
blue-print and short-term strategic business plans.
This chapter covers briefly the imperatives for strategic performance management in terms of what it is, why is it needed and what are the critical success factors to make it happen
The starting point for SPM is to have a strategy. A good strategy takes us half-way to achieve a great SPM. A strategy should which clearly define the priorities, success definitions and horizons. It should answer all possible 'why' questions. Apart from driving actionable objectives and measures, it should also be articulated in a fashion that people can relate to it and internalize it.
Strategy Blue print has 2-5 year horizon. This blue-print needs to converted into more details & chewable chunk of work. Strategic business plan is typically an annual road-map born out of Strategy blue-print. It is shorter term, finer objectives & measures and lot of in-process and input parameters.
During planning process, an organization has to identify and explore the opportunities for synergies across SBUs and establishing shared capabilities. This will provide cost and effectiveness advantage.The synergies can be around all perspectives like finance, customer, sales and processes.
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