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Set your organization for success by using Balanced Scorecard for your Strategic Planning

The balanced scorecard is a revolutionary management tool that has transformed the strategy execution and strategic human resource management in many organizations. A system that helps a firm to set its key strategies right is reportedly being used by not less than 70% of businesses to achieve their strategic goals. Any organization’s success is not just defined by its profits and revenues, there are severa ...

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Strategies to Improve Your Business Performance

During my interactions with business leaders, they often mention having experienced a sense of stagnancy after a few years of successfully running their organizations. Post the initial phase of success there comes a period where there are no upward spikes in the business graph. Customers are retained but you know that they are on the lookout for something better, employees have settled in routine and happy ...

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Common Mistakes In Succession Planning, and How Can They Be Avoided?

It is observed that Career and Succession planning is still an ad-hoc and gut-driven process in many organizations (especially in mid-size and smaller organizations and surprisingly also in some large organizations). Since there is hardly any scientific process or foundation used in career and/or succession planning, I have observed that business leaders inadvertently commit some common mistakes. Mistake #1 ...

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Performance Management: Generic Process

Performance Management ensures assessment of progress towards the predetermined goals, encompassing important facets such as performance parameters communication, agreement, and performance facilitation. The following generic steps would help most organizations to develop a strategic human resource management system. Performance Planning Development of 3 years rolling business plan Splitting the business pl ...

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Importance of Performance Management Systems

Performance Management is a critical business system that generally gets the last place in the priority list of organizations because it is commonly believed that once the targets are set and people are communicated on deliverables the work will be done. Interestingly, I found after talking to many entrepreneurs that there is a tendency in the organizations to consider performance management from the limite ...

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