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Friday, February 02, 2007

Formal Approach Improves Performance

Carol Bergeron and Pat Kirton published their recent research findings in a Boston Herald article called "Formal Approach Improves Performance."

The study’s most compelling findings was that executives of successful firms use a methodical approach to improving organizational performance consisting of five critical components:

  1. Rallying around a clear vision;
  2. Setting expectations;
  3. Prioritizing and aligning projects, people, and resources to strategic goals;
  4. Measuring and monitoring progress; and
  5. Creating an environment of ongoing communication.
The study found that 79% of top performing companies have a more formal process in place for managing organizational performance.

The study also found that 82% of top performing firms use a formal mapping process to align the work force to strategic goals compared with only 65 percent of all others.

BOTTOMLINE: Top performing firms use a disciplined approach/methdology that integrates these five key components. Their rates of strategic goal achievement demonstrate that employing the process is worth the investment.

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