Performance Management and Strategic Planning
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Performance Management and Performance Management and Strategic PlanningStrategic Planning
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OverviewOverview
Definition and Purposes of Strategic Definition and Purposes of Strategic PlanningPlanning
Linking Performance Management to Linking Performance Management to the Strategic Planthe Strategic Plan• Strategic Planning Strategic Planning • Developing Strategic Plans at the Unit LevelDeveloping Strategic Plans at the Unit Level• Job DescriptionsJob Descriptions• Individual and Team PerformanceIndividual and Team Performance
Building SupportBuilding Support
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Strategic Planning: Definition Strategic Planning: Definition
ProcessProcess•Describe organization’s Describe organization’s
destinationdestination•Assess barriersAssess barriers•Select approaches for Select approaches for
moving forwardmoving forward
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Strategic Planning: GoalStrategic Planning: Goal
Allocate resources to provide Allocate resources to provide organization with competitive organization with competitive advantageadvantage
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Strategic Planning: PurposesStrategic Planning: Purposes Help define the organization’s identityHelp define the organization’s identity Help organization prepare for the Help organization prepare for the
futurefuture Enhance ability to adapt to Enhance ability to adapt to
environmental changeenvironmental change Provide focus and allow for better Provide focus and allow for better
allocation of resourcesallocation of resources
(continued on next slide)
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Strategic Planning: PurposesStrategic Planning: Purposes
Produce an organizational Produce an organizational culture of cooperationculture of cooperation
Allow for the consideration of Allow for the consideration of new options and opportunitiesnew options and opportunities
Provide employees with Provide employees with information to direct daily information to direct daily activitiesactivities
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Strategic Planning : OverviewStrategic Planning : Overview
1.1. Environmental AnalysisEnvironmental Analysis
2.2. MissionMission
3.3. VisionVision
4.4. GoalsGoals
5.5. StrategiesStrategies
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Environmental AnalysisEnvironmental Analysis
Identifies external and internal Identifies external and internal trendstrends
To understand broad industry To understand broad industry issuesissues
To make decisions using “big To make decisions using “big picture” contextpicture” context
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External trendsExternal trends Opportunities:Opportunities:
• environmental characteristics that environmental characteristics that can can helphelp the organization succeed the organization succeed
Threats: Threats: • environmental characteristics that environmental characteristics that
can can preventprevent the organization from the organization from being successfulbeing successful
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External trends – External trends – Factors to ConsiderFactors to Consider
EconomicEconomic Political/Legal Political/Legal Social Social TechnologicalTechnological
CompetitorsCompetitors CustomersCustomers SuppliersSuppliers
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Internal trendsInternal trends
Strengths:Strengths: • internal characteristics that the internal characteristics that the
organization can organization can use for its use for its advantageadvantage
Weaknesses:Weaknesses: • internal characteristics that can internal characteristics that can
hinder the successhinder the success of the of the organizationorganization
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Internal trends – Internal trends – Factors to ConsiderFactors to Consider
Organizational structureOrganizational structure Organizational cultureOrganizational culture PoliticsPolitics ProcessesProcesses SizeSize
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Gap AnalysisGap Analysis
Analyzes:Analyzes:External environment External environment
(opportunities and threats)(opportunities and threats)
vis-à-visvis-à-vis
Internal environmentInternal environment(strengths and weaknesses)(strengths and weaknesses)
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Gap analysis determines:Gap analysis determines:Opportunity +Opportunity + Strength = Strength =
LeverageLeverage
Opportunity + Weakness = Opportunity + Weakness = ConstraintConstraint
Threat + Strength = Threat + Strength = Vulnerability Vulnerability
Threat + Weakness = Threat + Weakness = ProblemProblem
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Strategic Planning for the Strategic Planning for the OrganizationOrganization
Environmental and Gap Environmental and Gap Analyses provide information Analyses provide information for organizations to decide:for organizations to decide:Who they areWho they areWhat they doWhat they do
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MissionMission
A good A good missionmission statement answers: statement answers: Why does the organization exist?Why does the organization exist? What is the scope of the What is the scope of the
organization’s activities?organization’s activities? Who are the customers served?Who are the customers served? What are the products or services What are the products or services
offered?offered?
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Mission Statement contains:Mission Statement contains:
Information on organization’sInformation on organization’s Basic product/service to be offeredBasic product/service to be offered Primary market/customer groupsPrimary market/customer groups Unique benefits and advantages of Unique benefits and advantages of
product/servicesproduct/services Technology to be usedTechnology to be used Concern for survival through Concern for survival through
growth and profitabilitygrowth and profitability
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Mission Statement Mission Statement maymay contain: contain:
Information on organization’s values and Information on organization’s values and beliefsbeliefs Managerial philosophyManagerial philosophy Public image sought by organizationPublic image sought by organization Self-concept of business adopted bySelf-concept of business adopted by
EmployeesEmployees StockholdersStockholders
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VisionVision
Statement of future aspirationsStatement of future aspirations Focuses attention on what is Focuses attention on what is
importantimportant Provides context for evaluatingProvides context for evaluating
• OpportunitiesOpportunities• ThreatsThreats
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A Good Vision Statement:A Good Vision Statement: 8 Characteristics8 Characteristics
1.1. BriefBrief
2.2. VerifiableVerifiable
3.3. Bound by a TimelineBound by a Timeline
4.4. CurrentCurrent
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A Good Vision Statement:A Good Vision Statement: 8 Characteristics 8 Characteristics (continued)(continued)
5.5. FocusedFocused
6.6. UnderstandableUnderstandable
7.7. InspiringInspiring
8.8. A stretchA stretch
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Purposes for Setting GoalsPurposes for Setting Goals
Formalize expected achievementsFormalize expected achievements Provide motivationProvide motivation Provide tangible targets Provide tangible targets Provide basis for good decisionsProvide basis for good decisions Provide basis for performance Provide basis for performance
measurementmeasurement
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StrategiesStrategies
Create strategies or Game Plans or Create strategies or Game Plans or “How to” procedures to address “How to” procedures to address issues of:issues of:• GrowthGrowth• SurvivalSurvival• TurnaroundTurnaround• StabilityStability• InnovationInnovation• LeadershipLeadership
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How the HR Function How the HR Function contributes:contributes:
Communicate knowledge of Communicate knowledge of strategic planstrategic plan
Provide knowledge of KSAs Provide knowledge of KSAs needed for strategy needed for strategy implementationimplementation
Propose reward systemsPropose reward systems
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Strategic Plans at the Unit LevelStrategic Plans at the Unit Level
Organization Organization Mission Mission statement, Vision statement, statement, Vision statement, Goals, and StrategiesGoals, and Strategies
Must clearly Must clearly alignalign with with
And And be congruentbe congruent with with EveryEvery Unit Unit Mission statement, Mission statement,
Vision statement, Goals, and Vision statement, Goals, and StrategiesStrategies
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Alignment of Strategic Plan with Alignment of Strategic Plan with PerformancePerformance
Organization’s Strategic PlanMission, Vision, Goals, Strategies
Unit’s Strategic PlanMission, Vision, Goals,
StrategiesJob Description
Tasks, KSAs
Individual and Team PerformanceResults, Behaviors, Developmental Plan
Critical to involve all levels of management
Critical to involve all employees
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Job DescriptionsJob Descriptions
Tasks and KSAs are Tasks and KSAs are congruent with Organization congruent with Organization and Unit strategic plansand Unit strategic plans
Activities described support Activities described support mission and vision of mission and vision of Organization and UnitOrganization and Unit
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Individual and Team Individual and Team PerformancePerformance
Organization and Unit mission, Organization and Unit mission, vision, goals lead tovision, goals lead to
Performance management system, Performance management system, whichwhichMotivates employees Motivates employees Aligns development plans with Aligns development plans with
organization prioritiesorganization priorities
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Strategic Plan Strategic Plan 6 Choices in PM System Design6 Choices in PM System Design
1.1. Criteria (Behavior vs. Results)Criteria (Behavior vs. Results)
2.2. Participation (Low vs. High)Participation (Low vs. High)
3.3. Temporal Dimension (Short Temporal Dimension (Short Term vs. Long Term)Term vs. Long Term)
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Strategic Plan Strategic Plan 6 Choices in PM System Design 6 Choices in PM System Design
(continued)(continued)4.4. Level of Criteria (Individual vs. Level of Criteria (Individual vs.
Team/Group)Team/Group)
5.5. System Orientation System Orientation (Developmental vs. (Developmental vs. Administrative)Administrative)
6.6. Rewards (Pay for Performance Rewards (Pay for Performance vs. Tenure/Position)vs. Tenure/Position)
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Building Support – Building Support – Answering “What’s In It for Me?”Answering “What’s In It for Me?”
Top Management: Top Management: • Help carry out visionHelp carry out vision
All levels: All levels: • Involvement Involvement • Participation Participation • UnderstandingUnderstanding
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Quick ReviewQuick Review
Definition and Purposes of Strategic Definition and Purposes of Strategic PlanningPlanning
Linking Performance Management to Linking Performance Management to the Strategic Planthe Strategic Plan• Strategic Planning Strategic Planning • Developing Strategic Plans at the Unit LevelDeveloping Strategic Plans at the Unit Level• Job DescriptionsJob Descriptions• Individual and Team PerformanceIndividual and Team Performance
Building SupportBuilding Support