The strategic performance indicators are used to verify that the company is achieving the goals established by management, that is, strategic objectives.

The Balanced Scorecard is a frequently used tool to facilitate the determination of these strategic goals, but levers of strategic performance don't stop at this tool.

So how do you define strategic performance? What are its indicators? How can it be improved? Or, what strategic performance management approach? We explain to you.

What is strategic performance?

The objective of strategic performance is to strengthen business efficiency, whether operationally or economically.

This includes all aspects of organization, procedures, and expenses. This performance approach aims to improve both effectiveness in achieving set goals, and efficiency in reducing the resources needed to complete a specific task.

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Optimization, rationalization, and structure are the most effective actions to achieve the company's main objective, which is to create value. Development, innovation or diversification approaches are ways to lead to strategic performance.

What are the strategic performance indicators?

The strategic key performance indicators (KPIs) are those that will facilitate the optimal monitoring of the implementation of the corporate strategy by presenting them on the dashboard.

The set-up strategic key performance indicators makes it possible to make a choice between resource indicators and performance indicators, according to the objectives sought, while ensuring that they cover all strategic levers and adequately reflect the concerns of each activity with which they are associated.

The collaboration between the management committee and the various employees and businesses allows first of all to think in depth about all possible indicators and to reassess the relevance of the indicators that already exist.

The level of responsibility of the referent and the level of follow-up are also determined, prior to the transformation of the strategic dashboard into operational dashboards.

How can strategic business performance be improved?

A company that aspires to performance can exploit several levers to achieve its goals.

Among the strategic performance levers The most commonly used are the following.

Strategic performance and social networks

When they arrived on the internet, some businesses quickly spotted The advantage of social platforms.

Social networks such as Facebook, Twitter, Pinterest, Pinterest, Tik Tok, Instagram or even Snapchat now offer brands the opportunity to address their target audience directly.

This new mode of communication offers multiple opportunities to marketing departments. Les social networks can be used intelligently to generate qualified traffic to a website or to create interest in a product or service.

For example, a company that faces obstacles in reaching young people who do not recognize themselves in the image of the company that has existed in the market for a long time, may renewing its image by setting up an extensive promotional campaign on social networks.

Thus, it has the ability to be part of a dynamic story, highlighting characters that young people can identify with more easily.

Business performance and customer relationships

Businesses have everything to gain by taking care of their customers. For improve strategic performance, they must maintain their customers by building their loyalty, attract new prospects, stand out from their competitors, and improve their brand image with the general public.

It is possible to implement various measures in this context, such as investing in a CRM solution, collecting and exploiting customer feedback, conducting satisfaction questionnaires, adopting a multi-channel strategy to interact with the customer wherever they are, personalizing the relationship with the customer, and simplifying ticket management.

Sometimes, even if the products are of high quality and appreciated by many consumers, the company no longer succeeds in making progress in its field.

It is possible that there will be difficulties concerning customer relationships and that this is one of the reasons for this growth stalemate.

This problem mainly affects businesses that outsource their customer service, as individuals are generally less competent to meet customer needs.

It is therefore possible to study the possibility of moving customer service internally or implementing an effective chatbot.

Strategic performance and well-being at work

For many years, businesses have realized the importance of taking care of their employees.

On a purely pragmatic level, satisfied employees at work lead in particular to a decrease in the staff turnover rate, a improving efficiency and productivity, as well as an increase in creativity.

By paying greater attention to the needs of employees, by offering them optimal working conditions, by creating environments favorable to creation, the company contributes to better well-being at work and this has a positive impact on performance.

When a company sees an increase in employee absenteeism, accompanied by a high rate of turnover, it is likely that it must make efforts to improve well-being at work.

When employees find it difficult to engage in the life of the company, or when they feel constantly under pressure and not taken into account by their line manager, it is possible to implement measures to remedy this.

The company has the opportunity to change its management method in order to allow employees to take initiative and feel more free.

It is also beneficial to implement benefits, rewards, and cohesive activities.

Strengthen your position on the market

External growth involves the acquisition or merger of another company, whether it is a competitor, a supplier or sometimes even a customer, in order to consolidate its position, eliminate competition, acquire new skills or maintain control over the supply of raw materials.

However, such an operation involves risks.

One growth strategy poorly managed externally can in fact lead to an increase in staff concern and dissatisfaction, an overspending of the allocated budget or a decrease in the overall performance of the company.

Fortunately, there are other strategies to strengthen your position in the market.

When a company faces excessive competitive pressure, it can choose one of these two strategies.

Either continue its fight on its market, or reposition itself on a less competitive market.

Then, some companies will focus on production made in France in order to stand out, while others will make an improvement by offering services or products that are certainly more expensive, but above all more of a higher quality.

What strategic performance management approach?

In recent years, expectations about personnel management have changed. Whether it is managing with leadership, managing by taking on the role of coach or adopting another management style, the final objective remains to allow teams to fully express their potential.

Strategic performance management requires even more attention during periods of change.

During a transition mission, theimpact of professional coaching on business performance can be critical in helping a company and its employees accelerate the structural and organizational changes needed in a specific situation.

These changes may affect the organization itself or the management of projects.

Therefore, from a global perspective, one of the main objectives is to assist teams in setting up a continuous improvement approach that could boost performance quickly and sustainably.

Businesses can do supported by professional coaches like those of Visconti Partner to obtain the best possible results.

To be effective, performance management must be part of a systemic approach.

A coach specialized in coaching executives and managers, allows you to appropriate the right keys to manage by serving the strategic performance challenges. It is the ideal solution for boost business performance.