Page 166 - Microsoft Word - 00 P1 IW Prelims.docx

Chapter 12

Performance improvement strategies

Prevent corporate failure by spotting
warning signs early and taking corrective The performance management system
will need to reflect the changes
action quickly, for example:

 Major strategic change, such as  Linking new strategic goals to
selling a loss making part of the relevant CSFs, KPIs and targets
business
 Continuous review of actual
 Implementing better controls performance against target

 Acquiring/developing new business  Providing additional training and
development
 Learning from mistakes

 Managing major risks, e.g. foreign
exchange risk using hedging

 Ensuring different parts of the
business are in different parts of the
life-cycle (or that there is a balanced
portfolio as per the BCG model)

156