Archive for August, 2010

Managing organizational performance by integrating finance efficiency and business insight – IBM 2010 Global CFO study

Tuesday, August 31st, 2010

The latest IBM 2010 – Global CFO study, based on input from more than 1,900 Chief Financial Officers (CFOs) and senior Finance leaders worldwide brings new and valuable insights regarding the financial effectiveness and performance of organizations.

The study main findings reveal that organization’s finance effectiveness lags. More than 45% of the CFOs indicated that their Finance organizations are not effective in the areas of strategy, information integration and risk and opportunity management. This comes in the context in which, since 2005, the importance of integrating information has more than doubled, while the priority of the enterprise risk management has risen 93%, according with the same study.

The organization assessment process is based on nine dimensions that cover core financial and enterprise focused activities. The results show that Finance faces a widening execution gap, with expectations rising faster than effectiveness.

Source: 2010 IBM Global CFOs study

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Over 5000 Key Performance Indicator (KPI) examples on www.smartKPIs.com

Sunday, August 29th, 2010

Registered members of the www.smartKPIs.com community can now select their Key Performance Indicators (KPIs) from over 5000 performance measures documented and published in the online repository. The team focused over the last few days on publishing examples from the Information Technology, Sales & Customer Service and Marketing & Communication functional areas. Examples  from the  Hospitality & Tourism and Healthcare sectors were also added to the KPIs repository.

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Good practice in performance management – systems, tools and culture

Saturday, August 28th, 2010

smartKPIs.com Performance Architect update 34/2010

Oftentimes I am asked for advice on how to do performance management right. A very relevant question, as it is easier to make mistakes in deploying performance management practices rather than to get it right. Clarifying terminology and understanding the context of each entity is important in designing good performance architecture that fits its environment and cultural dynamics. Still, I consider that there are at least three key pillars of good practice in performance management:

• An integrated performance management system

• The use of tools to support the organisational evolution

• A performance culture oriented towards learning, innovation and happiness

The choice of terms is the first step to understand the merits of an integrated performance management system:

  • Integrated = that harmoniously unifies separate elements into a cohesive whole
  • Performance Management = actively driving the purposeful achievement of desired outcomes
  • System = a whole composed of several integrated parts

These are powerful descriptive terms. Many organisations still use terms such as performance management framework, guidelines, rules and regulations, reporting. These are limited terms, flavourless and rigid. Calling it a system immediately raises questions regarding its components, their relationship and the interaction with the environment.

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Gallup Potential Net Migration Index – Singapore – New Zealand – Saudi Arabia – Canada – Switzerland – Australia – Kuwait atop

Wednesday, August 25th, 2010

A study recently released by Gallup, on the topic of the Potential Net Migration Index shows that nations such as Singapore, New Zealand, Saudi Arabia, Canada, Switzerland and Australia are atop the list of countries that could see the highest net adult population growth from international migration. In the scenario in which all the borders are opened and population can move freely from one country to another, following their wishes as expressed in the survey, some of these countries could double their population according with the study.

Source: Adapted from Gallup, 2010

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Over 4900 Key Performance Indicator (KPI) examples on www.smartKPIs.com

Tuesday, August 24th, 2010

Registered members of the www.smartKPIs.com community can now select their Key Performance Indicators (KPIs) from over 4900 performance measures documented and published in the online repository. The team focused over the last few days on publishing examples from State/Federal Government and Local Government sectors.

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Employee productivity measurement

Monday, August 23rd, 2010

A recent www.smartKPIs.com blog post, Employee engagement and organisational performance’, outlined the approaches used by researchers to assess employee engagement and performance. The post concluded that as organisations show the relationship between engagement scores and bottom-line outcomes, everyone pays attention to the engagement index. Establishing this critical link between people and performance helps HR professionals prove that people-related interventions are a worthwhile investment (smartKPIs.com, 2010).

Acknowledgment for the need of reflection and consolidation in the field of employee performance measurement was also emphasized. Continuing this line of inquiry, a new question is explored in more detail below:

What is the cost of employees’ lack of productivity?

Siemens Communications launched an online survey in order to measure employee  productivity and its impact on the organisation. Having 30,000 computer based workers as respondents, the results confirmed what many managers have suspected for years: office workers are wasting precious time by playing “telephone tag”, this costing the British business an estimated £2 billion a month.

The results of the online survey revealed:

  • 70% of workers believe that up to a third or more of their calls do not get through to the right people first time. In fact, more than one-quarter believe that 50%t or more of their calls fail first time because people are in meetings, out of the office or simply engaged.
  • the minimum amount of time wasted every day by every office worker playing telephone tag or making unsuccessful phone calls is 30 minutes. Siemens estimate that this 30 minutes alone equates to a national daily salary cost of some £83 million, or £22 billion in a working year and that is without the cost incurred on unsuccessful calls (Johnston, R, Jones, P,  2004).

Source: Johnston, R, Jones, P (2004)

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Over 4800 Key Performance Indicator (KPI) examples on www.smartKPIs.com

Sunday, August 22nd, 2010

Registered members of the www.smartKPIs.com community can now select their Key Performance Indicators (KPIs) from over 4800 performance measures documented and published in the online repository. The team focused over the last few days on publishing examples from the Hospitality & Tourism, Non-profit,  State/Federal Government and Local Government sectors.

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From Canon to HP: values, objectives and press releases

Saturday, August 21st, 2010

smartKPIs.com Performance Architect update 33/2010

In my previous blog post I reviewed the approach Canon Inc. has to strategic planning and how its actions reflect the corporate strategic direction. While researching the topic I came across the Hewlett-Packard Company (HP) website. HP is considered today the world’s largest IT company, with 304,000 employees worldwide, 1 billion customers in 170 countries, revenue totaling $114.6 billion for fiscal 2009 (HP, 2010a) and a market capitalization of $86.81 billion (Google Finance).

For the last few weeks HP has been in a turmoil with the abrupt resignation of the CEO, so I started comparing the press releases of the two companies for the month of August 2010:

Canon, 2010 (4 releases for the period, I have selected 3 in the list below):

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University ranking systems – Academic Ranking of World Universities vs World University Rankings

Friday, August 20th, 2010

Source: ShanghaiRanking Consultancy, 2010.

Every year a world university ranking is released by a number of educational and commercial associations and bodies. And every year countless number of students, university officials and even politicians wait impatiently for them.

As one of the latest Nature Special Reports (2010) on educational topics reveal, these rankings have the power to put in action a whole mechanism. A position in the higher echelon of the rankings can influence policy makers higher education investments, determine which institutions attract the best researchers and students and trigger a race between universities to strengthen their position for the year to come.

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The 2010 Academic Ranking of World Universities for Economics – Business subjects

Thursday, August 19th, 2010

After having presented in a previous blog post the overall results of the Academic Ranking of World Universities (ARWU) 2010 released by the Center for World-Class Universities of Shanghai Jiao Tong University,  we focus on the subject narrow ranking for Economics / Business.

The top ten in this subject narrow ranking is dominated exclusively by US universities:

Source: Center for World-Class Universities, 2010 (click for higher resolution) (more…)

Over 800 Key Performance Indicators (KPI) in practice reports on smartkpis.com

Wednesday, August 18th, 2010

www.smartKPIs.com registered members can now learn about how companies use Key Performance Indicators (KPIs) to monitor their performance by reviewing over 800 KPIs in practice reports documented and published in the online repository. The smartKPIs.com team focused in the last month on publishing reports from Real Estate / Property, Education & Training and Financial Institutions industry. KPIs in practice reports specific to the Manufacturing, Utilities and Retail industries were also added to the database.

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