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March 15, 2006 - In today’s fast-paced business climate, the agility with which a company manages performance can determine its market position and profitability. Businesses are driven by competitive pressures to reach higher standards of competence in day-to-day operations and to capitalize on the interaction of their people and processes; optimizing these to generate better outcomes is what Performance Management is all about. Ventana Research advises organizations to evaluate the effectiveness of their management processes and information systems to help manage performance.
Performance management is the approach that uses best practice methodologies and information technology to manage the performance of an organization. It requires the business to use effectively the value of all its assets – people, processes and technology – to achieve the organization’s strategic goals. Performance management focuses on aligning, optimizing and understanding actions and decisions, both individual and collaborative, across the business network. Correctly implemented, it should enable all individuals working at strategic and operational levels to align their actions to deliver optimal performance.
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