Performance management systems (PMS) represent information-based routines and procedures formally expressed that managers use to maintain or alter patterns in organizational activities (Simons, 2000). More and more organizations are implementing new and alternative performance management systems in order to obtain better results. These systems focus on reproducing financial and non-financial information that is relevant for decision making and managerial action. Some of the better known performance management systems are the Balanced Scorecard and the Performance Prism.
A recent interview conducted by Bruno Aziza, Director – Worldwide Strategy Lead – Business Intelligence at Microsoft with Dr. Robert Kaplan“Baker Foundation Professor” at Harvard Business School, co-creator of the Balanced Scorecard concept, reveals several interesting insights on the key enablers of strategy execution and organizational success.
To enrich the picture on new marketing realities that we have tackled in several previous blog posts, we discuss the insights from the Boston Consulting Group (BCG) outlined in the report called The CMO’s Imperative. Tackling New Digital Realities. As its title suggestively indicates, the report presents the main recent developments in the practice of marketing enhanced by the new digital media (such as social media or mobile advertising), based on the results of The BCG Future of Marketing and Advertising Study, 2010.
While 15 years old, the cartoon above illustrates the issues with data quality in business intelligence, performance measurement and benchmarking initiatives.
Social media is infiltrating the business world, not only a tool used for personal interaction in the online medium, but also a powerful marketing resource that companies can use, at very low costs, to increase their visibility and improve their customer relations.
