Topic 2:Business Performance Management

What I have learnt in this topic:
- Business Performance Management (BPM)
- Closed-Loop Processes
- Developing Strategic Themes
- Balanced Scorecard (BSC)

BPM is an umbrella term covering the business methodologies, metrics, processes and systems used to drive the overall performance of an enterprise. (http://en.wikipedia.org/wiki/Business_performance_management) you can click on the link for further details of BPM

Go to http://www.oracle.com/technology/products/ias/bpel/pdf/bpm.closedloop.pdf , for more information about closed loop process which link strategy to execution in order to optimize business performance.

The balanced scorecard (BSC) is a strategic performance management tool - a semi-standard structured report supported by proven design methods and automation tools can be used by managers to keep track of the execution of activities by staff within their control and monitor the consequences arising from these actions

There are four perspective involved, namely:
The "financial perspective" encourages the identification of a few relevant high-level financial measures. In particular, designers were encouraged to choose measures that helped inform the answer to the question "How do we look to shareholders?"

The "customer perspective" encourages the identification of measures that answer the question "How do customers see us?"

The "internal business perspective" encourages the identification of measures that answer the question "What must we excel at?"

The "innovation and learning perspective" encourages the identification of measures that answer the question "Can we continue to improve and create value?".

Below is an example of an balanced scorecard:


For more information about balanced scorecard, you can go to:
http://www.balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid/55/Default.aspx\
http://www.valuebasedmanagement.net/methods_balancedscorecard.html
http://managementhelp.org/org_perf/bal_card.htm

on the other hand, this topic also covers PESTEL analysis, Porter’s 5 forces and SWOT analysis. however we already been taught in marketing and managment. this technique helps organisation to Develop Strategic Foundation and helps them to further understand their company environment.

for more information about SWOT analysis, you can go:
http://en.wikipedia.org/wiki/SWOT_analysis
for more information about PESTEL analysis, you can go:
http://en.wikipedia.org/wiki/PEST_analysis
for more information about Porter's 5 forces, you can go:
http://www.quickmba.com/strategy/porter.shtml