This feed provides updates on new pages added on performance management, functional management, KPIs and related tips, tools and trends http://www.bipminstitute.com/rss_performance_management.xml http://blogs.law.harvard.edu/tech/rss Mon, 4 Feb 2008 11:06:20 +0530 Mon, 4 Feb 2008 11:01:55 +0530 This KPI measures the cost incurred per sales lead done through telemarketing. This is a KPI-class. http://www.bipminstitute.com/sales-kpi/telemarketing-cost-per-lead.php 856 Mon, 10 Mar 2008 11:43:52 +0530 This KPI Class related to the amount of sales compensation (and its individual components) given per unit (or a piece) of sale or/ and per dollar of sale done http://www.bipminstitute.com/sales-kpi/compensation-per-unit-value.php 857 Mon, 10 Mar 2008 11:43:52 +0530 This KPI Class related to the amount of sales cost (and its individual components) given per unit (or a piece) of sale or/ and per dollar of sale done. This KPI should be studied in conjunction with sales compensation per unit and per value of sale. You will some content in this page similar to the KPI related to sales compensation. http://www.bipminstitute.com/sales-kpi/cost-per-unit-value.php 858 Mon, 10 Mar 2008 11:43:52 +0530 This KPI class assesses the performance on how fast are you able to close a sale, from initiation or a certain step within the sales process. http://www.bipminstitute.com/sales-kpi/sales-velocity-turn-around.php 859 Mon, 10 Mar 2008 11:43:52 +0530 Sales Value productivity measures the sales revenue generated by each sales person on an average. Sales value productivity KPI class is the mother KPI, which has a direct link to the business performance. http://www.bipminstitute.com/sales-kpi/sales-value-productivity.php 880 Tue, 8 Apr 2008 11:43:52 +0530 Sales Volume productivity measures the sales unit's volume generated by each sales person on an average. This is more of a supporting parameter to help build and manage your sales performance. Shareholder is more concerned about the sales value productivity. Sales volume productivity has to be carefully balanced, as both highs and lows have an undesirable impact. http://www.bipminstitute.com/sales-kpi/sales-volume-productivity.php 880 Tue, 8 Apr 2008 11:43:52 +0530 Sales Channel Density is the measure of our ability to reach the customer. It is equivalant to the ' Feet on the Street'. Sales channel density for a location is equivalant to the depth of business presence. Sales channel density demands investment and has to be carefully managed. A sparse sales density as well as an over-crowded sales force, can be detrimental. http://www.bipminstitute.com/sales-kpi/sales-channel-density.php 880 Tue, 8 Apr 2008 11:43:52 +0530 Sales Volume productivity measures the sales units volume generated by each sales person on an average. This is more of a supporting parameter to help build and manage your sales performance. Shareholder are more concerned about the sales value productitivty. Sales volume productivity has to be carefully balanced, as both highs and lows have an undesirable impact. http://www.bipminstitute.com/sales-kpi/sales-volume-productivity.php 881 Sales Channel Density is the measure of our ability to reach the customer. It is equivalent to the ' Feet on the Street'. Sales channel density for a location is equivalent to the depth of business presence. Sales channel density demands investment and has to be carefully managed. A sparse sales density as well as an over-crowded sales force can be detrimental. http://www.bipminstitute.com/sales-kpi/sales-channel-density.php 882 Lead Management the process of generating the list of potential customer prospects, prioritizing and classifying them, organizing sales effort around them and finally converting or tracking them to closure. http://www.bipminstitute.com/sales/leads-management-overview.php OAA Mon, 18 Feb 2008 11:43:52 +0530 This page gives the strengths, weaknesses, opportunities and threats of sales leads management sub-function http://www.bipminstitute.com/sales/leads-management-SWOT.php OAB Mon, 18 Feb 2008 11:43:52 +0530 Telemarketing gets its data from the databases provided from the third party source or could be calling existing customers for selling new or enhanced products. Telemarketing can be done internally within a unit or can be outsource to 3rd party telemarketers. http://www.bipminstitute.com/sales/telemarketing-lead-generation.php OAC Mon, 18 Feb 2008 11:43:52 +0530 Point of sale is perhaps the most potent in terms of the generating leads as you are dealing with a prospect who has come to your outlet, and therefore is carrying a first level of interest about your product/services. http://www.bipminstitute.com/sales/Point-of-sale-POS-leads.php OAD Mon, 18 Feb 2008 11:43:52 +0530 Starting from the rock shows organized by the car companies to local community events to seminars and conferences organized for higher level institutional products, the customer events are a good mechanics for lead generation. http://www.bipminstitute.com/sales/events-lead-generation.php OAE Mon, 18 Feb 2008 11:43:52 +0530 Advertising is one mode by which you can generate "high volume and low information" leads. You can have a small cut-out form, which a person can fill-up and send to you or give a call-in number for people to call. At the moment, this topic covers the advertising aspects in publications and television and not on hoardings or outdoors. http://www.bipminstitute.com/sales/advertising-lead-generation.php OAF Mon, 18 Feb 2008 11:43:52 +0530 Sales Leads database quality has an implication on sales productivity linked to the sales leads http://www.bipminstitute.com/sales/lead-marketing-database-quality.php OAG Mon, 18 Feb 2008 11:43:52 +0530 You are at a stage whereby the leads generated by marketing or sales function through various channels are available. The next step is to prioritize and classify these leads http://www.bipminstitute.com/sales/leads-prioritization-classification.php OAH Mon, 18 Feb 2008 11:43:52 +0530 After the prioritization and classification is done, the leads are to be forwarded to the appropriate staff for follow-up and closure. There various factors by which one can allocate the leads. http://www.bipminstitute.com/sales/leads-allocation-distribution.php OAI Mon, 18 Feb 2008 11:43:52 +0530 Once you have done the leads distribution by marketing function or a central sales function, it is time to follow-up on the leads by the sales staff. Leads follow-up a closure is core to giving hard dollars to the company's top-line. Follow-up to closure can have any number of steps and interim stages depending upon the kind of product and category of lead. http://www.bipminstitute.com/sales/leads-follow-up-closure.php OAJ Mon, 18 Feb 2008 11:43:52 +0530 Lead management system is not a business intelligence tool, and therefore we are not going to list it in the "Tools domain". However we are going to have topics dedicated to the source systems linked to a given functional domain. As the quality and capability of a source system plays an important part in a good Business Intelligence delivery, understanding the typical features of a source system will help you in your Business Intelligence objectives. http://www.bipminstitute.com/sales/leads-management-system.php OAK Mon, 18 Feb 2008 11:43:52 +0530 This pages gives the overview of the Sales Revenue Management function. It provides a high level view of the business objectives, key business questions and success drivers. http://www.bipminstitute.com/sales/revenue-management.php OBA Mon, 18 Feb 2008 11:43:52 +0530 This Page gives you the Strengths, Weaknesses, opportunities and Threats of Sales Revenue Management function. http://www.bipminstitute.com/sales/revenue-swot.php OBB Mon, 18 Feb 2008 11:43:52 +0530 If you meet a traditional sales person, he may come up with a simple rule "Sales is a simple function of the number of sales people you have unleashed on the customer". This may look like at shotgun approach, but followed by most of the sales executives in different shades. The multiplicity of channels, 3rd party distributors etc are essentially in effort to increase the sales force density and geographical coverage. http://www.bipminstitute.com/sales/force-density.php OBC Mon, 18 Feb 2008 11:43:52 +0530 Geographical spread is linked to the "width" of your presence. Sales managers define the target customers and business potential to get the sanction for expanding the presence to the new geographies. This is not a simple sales presence expansion. As you decide to expand your geographical presence in terms of distribution, you also have to expand your supply chain, delivery, and after-sales servicing capabilities to those geographic locations (this will be discussed in the supply chain management). http://www.bipminstitute.com/sales/geographic-expansion.php OBD Mon, 18 Feb 2008 11:43:52 +0530 Sales force productivity along with sales force density completes the equation for sales revenue. Sales force productivity can be defined as the quantum of sales done by a sales person in a given period of time. http://www.bipminstitute.com/sales/productivity.php OBE Mon, 18 Feb 2008 11:43:52 +0530 Typically the sales force productivity has a direct relationship with the sales velocity. However, it is technically possible to have a low sales velocity, but still having high sales productivity. This is because some product or market conditions inherently extend the time it takes to close a sale. http://www.bipminstitute.com/sales/sale-velocity-speed.php OBF Mon, 18 Feb 2008 11:43:52 +0530 Sales strike rate is another fine component apart from sales velocity and sales productivity which defines the sales performance of a sales person. The reason we have placed it as a separate component is because, technically speaking you can have a good sales velocity (turnaround time from initiation to sales closure for every sale closed) or sale productivity (sales units and value per sales person per period of time) but still a low strike rate in terms of %age of sales leads which finally resulted in sales closure. http://www.bipminstitute.com/sales/sale-strike-rate.php OBG Mon, 18 Feb 2008 11:43:52 +0530 Sales cost and profitability is the "bottom-line" part of sales function. A sale, which does not meet the expectation of returns for the share-holders is not termed as success. http://www.bipminstitute.com/sales/cost-profitability.php OCA Mon, 18 Feb 2008 11:43:52 +0530 One has to define the measures for sales function, which layout the level of emphasis which needs to be placed on sales bottom line (sales profitability) vs Sales Revenue. Sales people generally have a grouse that they get different messages from the management in terms on "topline vs bottomline vs both". They also say that it's not possible to focus both on bottom-line and top-line at the same time. http://www.bipminstitute.com/sales/objectives-clarity.php OCB Mon, 18 Feb 2008 11:43:52 +0530 Managing sales product mix helps to enhance the sales profitability, as sales people can aim at placing a greater focus on more profitable products. http://www.bipminstitute.com/sales/product-mix-profitability.php OCC Mon, 18 Feb 2008 11:43:52 +0530 Typically a sales ticket size translated into the higher sales profitability per dollar of sale. Sales people are always encouraged and incentivized for having larger ticket size. While the ticket size has to do with the sales effort, here are the other factors which influence the ticket size http://www.bipminstitute.com/sales/ticket-size-mix.php OCD Mon, 18 Feb 2008 11:43:52 +0530 This part is covered in more detail in sales channel management. There are many other factors which govern the decisions around sales channel mix. In this page, we will be covering the linkage of sales channel to sales cost and profitability (SCAP) in this page. http://www.bipminstitute.com/sales/channel-mix-profitability.php OCE Mon, 18 Feb 2008 11:43:52 +0530 Sales functions are typically considered equivalent to P&L function where they are measured on the revenue generated by them minus the cost incurred. Variability of the sales cost is defined as the level to which the sales cost is function of the sales volume/value. Most closer is the linkage between the sales cost and sales volume, more is the variability http://www.bipminstitute.com/sales/variable-cost.php OCF Mon, 18 Feb 2008 11:43:52 +0530 Sales facilities and infrastructure form a significant component of sales related costs. http://www.bipminstitute.com/sales/facility-infrastructure.php OCG Mon, 18 Feb 2008 11:43:52 +0530 This topic provides an overview of sales compensation management, providing the scope of this chapter, along with the key success drivers. http://www.bipminstitute.com/sales/compensation-management.php ODA Mon, 3 Mar 2008 11:43:52 +0530 This topic provides various compensation elements which are the building blocks to your overall sales compensation structure http://www.bipminstitute.com/sales/compensation-components.php ODB Mon, 3 Mar 2008 11:43:52 +0530 The most critical question for a sales manager is to fix the right compensation, by creating balance between the sales cost and sales performance. http://www.bipminstitute.com/sales/compensation-decision-structure.php ODC Mon, 3 Mar 2008 11:43:52 +0530 We all know that core purpose of the sales compensation, is to drive sales productivity. Sales compensation can go further by driving consistency and improvement of different parameters related to sales performance over weeks, months, quarters and years. http://www.bipminstitute.com/sales/consistency.php ODD Mon, 3 Mar 2008 11:43:52 +0530 "Sales compensation administration is like payroll. Its a hygiene factor. No one notices if it is working well. Hell breaks loose if it does not. " http://www.bipminstitute.com/sales/compensation-administration.php ODE Mon, 3 Mar 2008 11:43:52 +0530 Sales performance is not only to get good sales numbers. It also has a part to play on the profitability and long-term sustainability as well as brand image of a business. http://www.bipminstitute.com/sales/sale-related-behavior.php ODF Mon, 3 Mar 2008 11:43:52 +0530 Sales Channel management is to maximize the performance of sales channels to achieve objectives around sales and distribution. http://www.bipminstitute.com/sales/channel-management.php OGA Mon, 3 Mar 2008 11:43:52 +0530 This pages provides the typical Strengths, Weakness, Opportunities and Threats. http://www.bipminstitute.com/sales/channel-swot.php OGB Mon, 10 Mar 2008 11:43:52 +0530 Sales Channel Acquisition is a longer term commitment (Direct and Indirect Channel) http://www.bipminstitute.com/sales/channel-partner-acquisition.php OGC Mon, 10 Mar 2008 11:43:52 +0530 This page lists out specific trainings which a sales person will go through. Training is a on-going process and typically a new sales person, will cover this portfolio of training over a period of time and thereafter will go through a refresher learning on frequent basis. http://www.bipminstitute.com/sales/force-training-development.php OGD Mon, 10 Mar 2008 11:43:52 +0530 Once you have acquired a sales channel/force/staff, and trained them, the question is on how to retain the high performing and high potential talent. Different companies have different views on sales staff retention. http://www.bipminstitute.com/sales/channel-retention.php OGE Mon, 10 Mar 2008 11:43:52 +0530 Maximizing Productivity in Sales Channel is a sure way to provide greater band-width to Sales Channel in pursuing their main purpose- to make and close sale. http://www.bipminstitute.com/sales/channel-productivity.php OGF Mon, 10 Mar 2008 11:43:52 +0530 A sales channel management system is considered being part of the core systems in a company. There are very few sales channel management systems which include all aspects of sales channel management, and it may be a combination of systems, http://www.bipminstitute.com/sales/channel-management-system.php OGH Mon, 10 Mar 2008 11:43:52 +0530 This page provides an overview of sales campaign, including business objective, key business questions, success drivers and KPIs for Sales campaign management. http://www.bipminstitute.com/sales/campaign-management.php OEA Thu, 3 Apr 2008 11:43:52 +0530 This page provides the list of strengths, Weaknesses, threats and opportunities linked with the sales campaign management. http://www.bipminstitute.com/sales/campaign-swot.php OEB Wed, Thu, 3 Apr 2008 11:43:52 +0530 A sales campaign ‘perhaps’ is among the tougher challenges, as it demands quick reaction to a time-bound project and opportunity.Instead of ad-hoc response to a sales campaign, an organization can create readiness future campaigns. http://www.bipminstitute.com/sales/campaign-infrastructure.php OEC Thu, 3 Apr 2008 11:43:52 +0530 This page provides the building blocks of analytics and performance measurement for sales campaign management http://www.bipminstitute.com/sales/campaign-business-intelligence-Analysis.php OED Thu, 3 Apr 2008 11:43:52 +0530 This pages provides various data quality issues which could arise in sales campaign management, and possible solutions. http://www.bipminstitute.com/sales/campaign-data-management.php OEE Thu, 3 Apr 2008 11:43:52 +0530 Sales process covers the effectiveness and efficiency of a sales process. Sales processes are the bedrock of a healthy sales performance. Sales processes provide support to the sales channel and also enforce a discipline within the sales channel to build strong sales organization. It is both a service provider as well as conscience keeper. http://www.bipminstitute.com/sales/process-management.php OFA Tue, 8 Apr 2008 11:43:52 +0530 A sales organization uses wide variety of sales material including sales kit, sales representation and sales promotion material. A sales operations function has to leverage upon the capability of other functions to provide efficiency and to stay focused on its core capabilities. http://www.bipminstitute.com/sales/material-distribution.php OFB Tue, 8 Apr 2008 11:43:52 +0530 Sales persons have the greatest level of touch-points, and their behavior make or break on the brand image and perception of a business. Given the compulsiveness to sell, the representation discipline is a big support as well as a challenge from a sales person's point of view. http://www.bipminstitute.com/sales/representation.php OFC Tue, 8 Apr 2008 11:43:52 +0530 Customer segmentation firstly has to define on what do we mean by the customers, and also what should be and should not be done in customer segmentation. http://www.bipminstitute.com/customer/segmentation-overview.php NAA thu, 10 Apr 2008 11:43:52 +0530 Customer segmentation can be done on multitude of parameters, This is just an indicative list. The key is to make sure that you are focusing on the parameters which are important for your business. One should avoid the trap of making customer segmentation too complex an exercise. http://www.bipminstitute.com/customer/segmentation-parameters.php NAB thu, 10 Apr 2008 11:43:52 +0530 A customer segment can drive actions across various functions like product development, sales approach and services management. However, one does not need to come with lot of independent actions. http://www.bipminstitute.com/customer/segmentation-actions.php NAC thu, 10 Apr 2008 11:43:52 +0530 This is just a high level statement on the approach, and some cautions along with. In customer segmentation, one has to be prudent to maintain a balance on the level of segment. One also has to know early on the invalid or irrelevant segments. http://www.bipminstitute.com/customer/segmentation-approach.php NAD thu, 10 Apr 2008 11:43:52 +0530 Customer segmentation analysis has to manage the internal data on existing customers as well as the external data on prospects. The external data has a challenge of being dirty and in diverse formats. Most of the data management issues are linked to managing the external data. http://www.bipminstitute.com/customer/segmentation-data-management.php NAE thu, 10 Apr 2008 11:43:52 +0530 Customer segmentation related analysis does not have an urgency of running a business. Therefore, it may be missed out in comparison to sales analysis or supply chain analysis. Once segmentation is done, it is done again after a gap of at least a year. A regular analysis, will help you to validate your assumptions and also throw some signals on how the customers are moving across the segments. http://www.bipminstitute.com/customer/segmentation-BI.php NAF thu, 10 Apr 2008 11:43:52 +0530 Customer Value and Profitability is the current or potential contribution to the shareholder value by a customer or customer segment. One needs to have robust modeling and cost/revenue monitoring systems to have a reliable information. The core challenge stays in terms of designing your actions to enhance the customer value and implementing them. http://www.bipminstitute.com/customer/value-profitability.php NDA thu, 17 Apr 2008 11:43:52 +0530 As you design your actions to enhance customer value and profitability, you need to balance the extent to which you will stratify and differentiate your products and services. Too much differentiation can be counter-productive. One also needs to have end-to-end strategy spanning your products, delivery, sales, post-sales etc, instead of taking independent actions. http://www.bipminstitute.com/customer/value-profitability-actions.php NDB thu, 17 Apr 2008 11:43:52 +0530 Customer Satisfaction and Retention (CSR) are closely but not completely interlinked. CSR needs to be optimized for maximizing shareholder value. Sticking to fundamentals is key to CSR over and above the customer expectation and perception management. http://www.bipminstitute.com/customer/satisfaction-retention-overview.php NBA thu, 24 Apr 2008 11:43:52 +0530 A scorecard is a vehicle not only for reporting performance, but it is a vehicle for “Assessing performance", and “Driving performance". This topic dwells on what all a scorecard should have."http://www.bipminstitute.com/execution-management/performance-scorecard-design.phpJEETue, 5 Feb 2008 11:43:52 +0530 With design of scorecards in place, its time to start reviewing your performance and act on the findings"http://www.bipminstitute.com/execution-management/performance-review-framework.phpJEGTue, 5 Feb 2008 11:43:52 +0530 Execution Management is essentially translating your strategy into reality. It is not just accomplishing a task or a goal, but also to achieve the underlying business objectives. It has to enable a constant review and fine-tuning of your strategy. A good execution management will focus on WHAT as well as HOW of an achievement. Execution management is linked to culture and people management, but is not their parent. http://www.bipminstitute.com/execution-management/definition-introduction.php KAA thu, 24 Apr 2008 11:43:52 +0530 Strategic Execution Management is an ignored subject, and most of the organization either loose steam or focus by the time they have to start implementing the lofty documents like Strategy Blue-print and Strategic Business Plan. Execution is generally not considered 'Strategic'. http://www.bipminstitute.com/execution-management/issues-challenges.php JEB thu, 24 Apr 2008 11:43:52 +0530 A good strategic execution needs management alignment at detailed level, tools to generate dashboards and scorecards, discipline, change management of your execution process and a clear communication of strategy to all levels within an organization. http://www.bipminstitute.com/execution-management/success-drivers.php KAC thu, 24 Apr 2008 11:43:52 +0530 The sophistication of execution management process and your approach for implementation will depend a lot on the level of readiness of an organization. http://www.bipminstitute.com/execution-management/organization-readiness.php KAD thu, 24 Apr 2008 11:43:52 +0530 Setting right and balanced measures can go a long way in building good strategy and in its execution http://www.bipminstitute.com/execution-management/performance-measures-drivers-indicators.php JEC thu, 24 Apr 2008 11:43:52 +0530 Scorecards and Dashboards are core to Execution Management Framework (EMF). Though used interchangeably, they have distinct functions and designing concepts http://www.bipminstitute.com/execution-management/scorecard-vs-dashboard.php JED wed, 30 Apr 2008 11:43:52 +0530 A scorecard is a vehicle not only for reporting performance, but it is a vehicle for Assessing performance, and Driving performance. This topic dwells on what all a scorecard should have. http://www.bipminstitute.com/execution-management/performance-scorecard-design.php JEE wed, 30 Apr 2008 11:43:52 +0530 Dashboards designs are simpler compared to Scorecards, and typically should be designed with reference to scorecard. http://www.bipminstitute.com/execution-management/performance-dashboard-design.php JEF wed, 30 Apr 2008 11:43:52 +0530 This page gives a high level view of how a performance review session is conducted. We will soon expand this page into individual topics. http://www.bipminstitute.com/execution-management/performance-review-framework.php JEG wed, 30 Apr 2008 11:43:52 +0530 Scorecard generation is a complex process as it cannot be fully automated, involves fair degree of analysis, demands expected performance projections and an agreement by various stakeholders on the content. The challenge is not the process but its efficiency. Scorecard generation should not be considered an additional task but a way of life. http://www.bipminstitute.com/execution-management/scorecard-generation-process.php KBD wed, 30 Apr 2008 11:43:52 +0530 Dashboard generation is a simpler process compared to that of a scorecard. The generation of dashboard should avoid the trap of over scoping and over-analysis. http://www.bipminstitute.com/execution-management/dashboard-generation-process.php KBE wed, 30 Apr 2008 11:43:52 +0530 A performance review session needs to be time-bound, focused, having a common reference document and should be connected to the previous sessions. http://www.bipminstitute.com/execution-management/performance-review-session-imperatives.php KCB wed, 30 Apr 2008 11:43:52 +0530 A performance review session needs to come out with agreed set of Key Performance Points (the items which need to be on radar and need addressal), Actions, Assumptions and Decision points. http://www.bipminstitute.com/execution-management/performance-review-session-outcomes.php KCC wed, 30 Apr 2008 11:43:52 +0530 Facilitation is key to the performance review session, as it has many traps for getting distracted. It needs to maintain balance between discipline and flexibility. http://www.bipminstitute.com/execution-management/performance-review-session-facilitation.php KCD wed, 30 Apr 2008 11:43:52 +0530 The strategic alignment includes alignment around the financials, processes, people, external partners and shareholders. Strategic alignment does not mean that your constituents are focused only on your strategic priorities. It looks for a right balance between your key strategies and the business as usual 'keeping lights on' agenda. http://www.bipminstitute.com/execution-management/alignment-concept.php KDA Mon, 2 Jun 2008 11:43:52 +0530 Financial alignment ensures that more resources are assigned to strategic priorities, while placing the business as usual agenda under the expense pressure. An organization needs to re-evaluate it's on going expense lines and WIP initiatives, to ensure that money is well-invested. http://www.bipminstitute.com/execution-management/financial-alignment.php KDB Mon, 2 Jun 2008 11:43:52 +0530 People alignment is achieved at various levels. This includes Jobs and Skills, Goal-sheets, Learning and Development and Rewards. http://www.bipminstitute.com/execution-management/people-alignment.php KDC Mon, 2 Jun 2008 11:43:52 +0530 Business process alignment is driven by the top priority processes identified during planning phase, SLAs and Measures, skill alignment and business process management capability. http://www.bipminstitute.com/execution-management/process-alignment.php KDD Mon, 2 Jun 2008 11:43:52 +0530 External partner (especially those having strategic and/or exclusive partnership with you) is an important link during your planning as well as execution phase. External partners are an asset and can provide you with many ideas and inputs. http://www.bipminstitute.com/execution-management/partner-alignment.php KDE Mon, 2 Jun 2008 11:43:52 +0530 There are many opportunities around synergies and shared capabilities. One needs to evaluate the top priority opportunities, which will provide visible benefits and also not disrupt the business. One can have shared capabilities and synergies within an SBU as well. However, the real leverage happens when it is at enterprise level. http://www.bipminstitute.com/strategic-planning/synergies-shared-capabilities.php JFA Mon, 2 Jun 2008 11:43:52 +0530 Finance Function is essentially a shared and centrally managed function. There are many activities, which may or may not be fully and centrally managed by finance function. This includes investments and funding. http://www.bipminstitute.com/strategic-planning/financial-synergies.php JFB Mon, 2 Jun 2008 11:43:52 +0530 A customer should not be owned by an SBU. Customer is an enterprise level asset and all SBUs can work on maximizing the customer value and profitability. http://www.bipminstitute.com/strategic-planning/customer-synergies.php JFC Mon, 2 Jun 2008 11:43:52 +0530 Sales related synergies include sharing of sales channels, sales outlets and sales campaigns. http://www.bipminstitute.com/strategic-planning/sales-synergies.php JFD Mon, 2 Jun 2008 11:43:52 +0530 "Pick-up top quartile of metrics in your scorecard, where you want to take the potential or ideal goals of a scorecard to the next level." http://www.bipminstitute.com/template/content_desc.php?content_id=501 " 501 Tue, 5 Feb 2008 11:43:52 +0530 "A prudent business manager is share-holder driven and customer-focused. The way we measure our business should have a stake from these two entities at least. " http://www.bipminstitute.com/template/content_desc.php?content_id=502 " 502 Tue, 5 Feb 2008 11:43:52 +0530 "Scorecard should tell the whole story about your business, even if it is beyond pure numbers." http://www.bipminstitute.com/template/content_desc.php?content_id=503 " 503 Tue, 5 Feb 2008 11:43:52 +0530 "The basic qualification of Scorecard should be to have information integrity. The audience should take the information in the Scorecard as a given. " http://www.bipminstitute.com/template/content_desc.php?content_id=504 " 504 Tue, 5 Feb 2008 11:43:52 +0530 "Person responsible for creating a Scorecard has a significant responsibility. He or she should have an assertive & collaborative relationship with all stakeholders. " http://www.bipminstitute.com/template/content_desc.php?content_id=505 " 505 Tue, 5 Feb 2008 11:43:52 +0530 "A good Scorecard and an efficient process should lead to not more than 3-4 hours of time spent in performance review every month. If a team is spending more than this time, there is something amiss in the Scorecard or in the process of review." http://www.bipminstitute.com/template/content_desc.php?content_id=506 " 506 Tue, 5 Feb 2008 11:43:52 +0530 "A Performance Review Session is to understand & get more detailed perspective of statements on the Scorecard and take some key most decisions. " http://www.bipminstitute.com/template/content_desc.php?content_id=507 " 507 Tue, 5 Feb 2008 11:43:52 +0530 "One month is fair time people need to work on the takeaways of a performance review session. If you are having a scorecard review once every week, take a re-look on its effectiveness. It might as well be a dash-board or "current state" or operational review." http://www.bipminstitute.com/template/content_desc.php?content_id=508 " 508 Tue, 5 Feb 2008 11:43:52 +0530 Sales campaigns are focused on maximizing sales, and sometimes they ignore the value they can create by generating leads for future sales efforts. http://www.bipminstitute.com/template/content_desc.php?content_id=844 844 Mon, 18 Feb 2008 11:43:52 +0530 Typically the amount of data you want get on a lead is inversely proportional to the number of leads you can generate. A potential customer does not like to fill-up long forms, even if you give incentives. http://www.bipminstitute.com/template/content_desc.php?content_id=845 845 Mon, 18 Feb 2008 11:43:52 +0530 When you are doing any kind of data acquisition, (for example- generating a lead from a prospect, admitting a patient through an admission form, getting a customer to fill-up application form for your product), always try to ask for dates instead of tenure. http://www.bipminstitute.com/template/content_desc.php?content_id=846 846 Mon, 18 Feb 2008 11:43:52 +0530 The sales leads get generated all over the place in an organization. They get generated through a focused effort (like advertisements, events etc.) or at the level of each sales person, who has his own sales leads. It is a challenge to have the leads to be stored and tracked centrally so that an organization can have an understanding of how well the leads are being leveraged to boost sales. http://www.bipminstitute.com/template/content_desc.php?content_id=847 847 Mon, 18 Feb 2008 11:43:52 +0530 Creating Special Initiative Rewards, team incentives and higher reward pools for more critical roles can bring more focused effort to strategic priorities http://www.bipminstitute.com/template/content_desc.php?content_id=879 879 Thu, 3 Apr 2008 11:43:52 +0530 A flexible, adaptive, systematic, and result oriented decision making process can make your decision making more efficient, consistent and responsive. http://www.bipminstitute.com/template/content_desc.php?content_id=885 885 Mon, 2 Jun 2008 11:43:52 +0530 One need not wait for performance review session to know the status of key actions, which were agreed in the last review. A pro-active sharing of status will drive better execution and save crucial time of the review session. http://www.bipminstitute.com/template/content_desc.php?content_id=889 889 Mon, 2 Jun 2008 11:43:52 +0530 One can take the team productivity to next level by building a culture of 'no follow-up'. This saves everyone's time and also builds greater leadership depth, accountability and empowerment. http://www.bipminstitute.com/template/content_desc.php?content_id=890 890 Mon, 2 Jun 2008 11:43:52 +0530 Empowering front-line employees save time and effort, builds greater maturity in frontline staff, and brings greater customer satisfaction. Empowering frontline staff is a question of management mind-set and needs to be supplemented with a support system. http://www.bipminstitute.com/template/content_desc.php?content_id=896 896 Fri, 4 Jul 2008 11:43:52 +0530 Customer Attrition cost is a nebulous measure, and is more calculated by the judgment, instead of a hard-coded formula. The components of the customer attrition cost are customer acquisition cost, customer value lost, customer set-up, training and exit cost. http://www.bipminstitute.com/analytics-reporting/customer-attrition-cost.php 950 Mon, 11 Aug 2008 11:43:52 +0530 Level of customer attrition is important KPI, as every attrited customer is a cost to the company (apart from the 'healthy' attrition, which sometimes companies work on). There are host of factors which can reduce customer attrition. This page talks about the nuances of how you measure this KPI, along with its interpretation and analysis. http://www.bipminstitute.com/customer-kpi/attrition-level-numbers.php 951 Mon, 11 Aug 2008 11:43:52 +0530 The success drivers of Customer Satisfaction and Retention include Service and Support, customer trust relationship, meeting customer expectations, maintaining customer touch points, sales experience and exit barriers. http://www.bipminstitute.com/customer/retention-satisfaction-success-drivers.php NBD Mon, 11 Aug 2008 11:43:52 +0530 Customer retention can be enabled by ethical exit barriers, which not only helps retain the customer but also add to customer satisfaction. These include understanding customer domain, exit clauses in contracts, your terminal in customer's premises, providing value-added services etc. http://www.bipminstitute.com/customer/retention-exit-barriers.php NBE Mon, 11 Aug 2008 11:43:52 +0530 This page provides the business objectives, business questions, definition and success factors related to customer service and support. http://www.bipminstitute.com/customer/service-support-overview.php NCA Mon, 11 Aug 2008 11:43:52 +0530 Customer Service and Support can be used for non-operational and strategic roles. This includes cross-sell, up-sell, campaign introduction, feedback surveys, process improvement and product design improvements. http://www.bipminstitute.com/customer/service-support-strategic-tool.php NCB Mon, 11 Aug 2008 11:43:52 +0530 Customer service and support supply chain is of a different order. First is urgency- where a faulty product disrupts customer's life and needs to be attended to and secondly, you may not get any money to fix the issues. Smart organization understands that supply chain for customer service is as important as that for order fulfillment. http://www.bipminstitute.com/customer/service-support-supply-chain.php NCC Mon, 11 Aug 2008 11:43:52 +0530 For a good customer service and support function, it is important that you know the relevant areas of your organization and also about customer profile along with the history of his transactions with you. http://www.bipminstitute.com/customer/service-support-knowledge.php NCD Mon, 11 Aug 2008 11:43:52 +0530 Leadership is like an ether, which fills-up the environment of an organization. Leadership is about people, sustainability, long-term perspective and doing more than what management can achieve. http://www.bipminstitute.com/leadership/definition-concept.php LAA Mon, 18 Aug 2008 11:43:52 +0530 Organizations can include leadership dimension in individual performance management processes, by defining leadership competencies and do a separate performance appraisal around leadership capabilities. http://www.bipminstitute.com/leadership/individual-performance-process.php LAB Mon, 18 Aug 2008 11:43:52 +0530 This competency is linked with how a leader guides his and other's work and approach in alignment with the business strategies and priorities. http://www.bipminstitute.com/leadership/competency-strategic-intent-alignment.php LBB Mon, 18 Aug 2008 11:43:52 +0530 Customer focus is demonstrated in the way we organize and guide our priorities, knowledge and work around the customer entity. http://www.bipminstitute.com/leadership/competency-customer-focus.php LBC Mon, 18 Aug 2008 11:43:52 +0530 In today's world if you don't innovate fast enough, you will not survive. Building an environment, which not only encourages, but also drives innovation as a non-negotiable business objective, is one of the ways to keep the business going. http://www.bipminstitute.com/leadership/competency-foster-innovation.php LBD Mon, 18 Aug 2008 11:43:52 +0530 There is a need for every level in the organization to understand and shape their work to make more revenue and profit for the enterprise. http://www.bipminstitute.com/leadership/competency-business-financial-acumen.php LBE Mon, 18 Aug 2008 11:43:52 +0530 Feedback is considered synonymous with the bad news and conflict-soaked discussion between manager and his employee. In reality, feedback can be both positive and developmental. A manager needs to give both kind of feedbacks with same level of intensity and sincerity. http://www.bipminstitute.com/tips/positive-negative-feedback.php 954 Mon, 18 Aug 2008 11:43:52 +0530 As a suggested rule, an effective feedback has a shelf life of 48 hours from the point of observation http://www.bipminstitute.com/tips/performance-feedback-observation.php 955 Mon, 18 Aug 2008 11:43:52 +0530 A manager builds his trust capital in the long-term, if he maintains a straight-talking persona, even at the cost of being unpopular in the beginning. Over the time, people get used to this style and start respecting the same. http://www.bipminstitute.com/tips/feedback-straight-blunt-trust.php 956 Mon, 18 Aug 2008 11:43:52 +0530 A satisfied shareholder, leads to a loyal customer leads to an engaged employee http://www.bipminstitute.com/tips/shareholder-customer-employee.php 957 Mon, 18 Aug 2008 11:43:52 +0530 Expect more from the people (without setting them up for failure), and pamper their self-esteem and they will explore new limits of their potential. http://www.bipminstitute.com/tips/treating-people-for-performance.php 958 Mon, 18 Aug 2008 11:43:52 +0530 "A leader has seemingly conflicting objectives of putting best man for the job and developing people by giving assignments where an employee has low skill. This tip provides the tricks for managing this perceived conflict. " http://www.bipminstitute.com/tips/maximize-employee-output-potential.php 959 Mon, 15 sep 2008 11:43:52 +0530 Development Plan is not Training plan. Training is one of the means to achieve a holistic development. Development plan has three constituents- Training, Self-learning and on-the-job development. A development plan should typically have 70-20-10 distribution in terms of effort across these three constituents, with maximum effort around on-the-job development. http://www.bipminstitute.com/tips/training-learning-development-plan.php 960 Mon, 15 sep 2008 11:43:52 +0530 Communicates and shares the thoughts, ideas, issues, conflicts, agreements, dis-agreements openly and directly. Does not project any hidden agenda. Listens and understands the messages from others. Demonstrates openness and clarity in all forms of communications http://www.bipminstitute.com/leadership/competency-communicate-listen-openly.php LBF Mon, 15 sep 2008 11:43:52 +0530 This leadership competency points to an ability to work in diverse cultures, contexts, organization structures and skill-levels. It also points to an ability to work with internal and external teams working across different locations, time zones and HR policies. This ability also makes a leader adaptive to changes in the working environment. http://www.bipminstitute.com/leadership/competencies-diverse-collaborative-teams.php LBG Mon, 15 sep 2008 11:43:52 +0530 There is a quote which says that 'leader does not do great things by himself, but he makes other people do great things'. Learning and development is a continuous process. A leader maintains this continuity for him and for his team. He leverages all possible channels to promote a holistic development. He knows that development is not training, but also on-the-job learning as well as self-learning. He also knows that the development can be through informal as well as formal channels. http://www.bipminstitute.com/leadership/competency-develop-self-others.php LBH Mon, 15 sep 2008 11:43:52 +0530 Well clued onto the environment- both internal and external. Identify the change opportunities and works on them. Anticipates the waves of change, and stay prepared. Build competencies of change management and adaptability within the teams. Maintains the perseverance and tenacity to drive and sustain the change. http://www.bipminstitute.com/leadership/competencies-lead-change.php LBI Mon, 15 sep 2008 11:43:52 +0530 Demonstration of leadership competencies of leading change, business acumen and setting strategic intent are based on sound decision making and judgment. This is perhaps the softest part of leadership competencies frame-work. Decision-making is science as well as an art. It is a combination of hard-core number crunching, quantified analysis, managing ambiguities and thinking from the gut. It talks about taking best possible decision, with inadequate information, having inadequate capabilities, in less than predictable future and overall within an imperfect world. http://www.bipminstitute.com/leadership/competency-act-with-decisiveness.php LBJ Mon, 15 sep 2008 11:43:52 +0530 A leader sets clear goals, timelines, plans, and measures of success. He tracks the progress and keeps on working to achieve the planned targets. He works on all aspects of performance- Cost, timelines and Quality. He works on consistency, accuracy and reliability of performance. http://www.bipminstitute.com/leadership/competency-manage-for-performance.php LBK Tue, 2 dec 2008 11:43:52 +0530 This is an extension of Manage for Performance. This competency is related to the 'end-results' part of the performance. The reason we have not included this competency as part of the 'manage for performance' is because we wanted to place a separate emphasis on results part, which is relevant to the day to day accomplishments and running of business. http://www.bipminstitute.com/leadership/competency-deliver-results.php LBL Tue, 2 dec 2008 11:43:52 +0530 Leaders are made as much as they are born. The inherent leadership DNA has to be shaped and molded to build leadership talent which can respond to the need of time and context. There are many case-studies, where organizations have nurtured leadership. Once an organization is able to set its eyes on what are their leadership development goals to achieve their business objectives, a diligent planning and execution makes it happen. http://www.bipminstitute.com/leadership/development-context-setting.php LCA Tue, 2 dec 2008 11:43:52 +0530 This pages covers the features of KPI-Metrics which lay the foundation of their sound management and application. Some of the imperatives of KPIs-Metrics are - Actionable, analyzable, balanced and aligned. http://www.bipminstitute.com/execution-management/good-kpi-metrics-features.php KEA Tue, 2 dec 2008 11:43:52 +0530 A KPI needs to be defined in fair degree of detail, so to ensure that there is a complete understanding and consistency on all possible aspects. This includes the categorization, calculation, exceptions, standards etc. http://www.bipminstitute.com/execution-management/kpi-metric-definition-specification.php KEB Tue, 2 dec 2008 11:43:52 +0530 One needs to limit the number of KPIs in a given view of a scorecard and dashboard. The simplicity and number of KPIs-metrics is driven by the frequency of performance review. Dashboards have simpler and lesser KPIs compared to a scorecard. http://www.bipminstitute.com/execution-management/prioritize-select-kpi-metric.php KEC Tue, 2 dec 2008 11:43:52 +0530 Any KPI needs to have a single point of ownership. However, there are generally multiple stakeholders, who contribute to the success of a KPI. This tip provides the tricks to drive a single point ownership while ensuring a collective effort. http://www.bipminstitute.com/tips/kpi-single-point-ownership.php 968 Tue, 2 dec 2008 11:43:52 +0530 Leadership traits and competencies can be defined and specified. However, the words and adjectives can vary. Everything which can be positive about a person in terms of character, conduct, approach and attitude, perhaps can be labeled as leadership trait. This page provides few glimpses of those leadership behaviors. http://www.bipminstitute.com/leadership/behavior-traits-development.php LCB Tue, 16 dec 2008 11:43:52 +0530