Performance management (PM) is the process of ensuring that a set of activities and outputs meets an organization’s goals in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, an employee, or the processes in place to manage particular tasks.
The concept of Overall Equipment Effectiveness was first written about in 1989 from a book called TPM Development Program – Implementing Total Productive Maintenance, edited by Seiichi Nakajima from the Japan Institute of Plant Maintenance. This was translated from the Japanese book TPM tenkai published in 1982. Prior to Overall Equipment Effectiveness, people monitored equipment…
Metaphorically speaking, the Economist suggests that corporate headquarters have put on weight, and need to slim down again. Literally speaking, PepsiCo, for example, began a $243m upgrade of their complex to make space for more staff. While a group called ‘the raiders of the 80’s’ were supposed to put an end to corporate extravagance and administrative bloat…
According to the Economist, there can be few better places to talk about complexity than Vienna. In the capital of the most complicated political organisation ever to exist, hundreds of management enthusiasts converged recently to debate the subject of complexity. In their discussions, they were preoccupied with two points: that business is more complicated than ever before;…
Customer Focus – probably the most over-used, misunderstood phrase in business today. We hear it everywhere… every company is customer focused, every company prides itself on having the highest ratings in customer satisfaction. More than ever before, companies are spending millions on achieving higher customer ratings. And yet, Customers are ‘churning’ from one type of…
A recent report by CoreNet Global surveyed 100 firms regarding space utilization offers revealed that utilization rates range from 45-65%. This means that at any moment on average, 55% of the existing office space is vacant. Clearly, there is an opportunity to increase shareholder value. The lack of synergy that exists between corporate governance and financial performance…
I enjoy guest lecturing at University. In fact, it is one of my most favourite things I do. I believe what I enjoy most is the optimism and energy of the students. They are far too young in their careers to have been tarnished by the pragmatism, and even cynicism, of “real life” – or…
