The High Performance Enterprise Concept
Global competition challenges the modern firm to perform as never before. The availability of technology and skilled labor around the world has dramatically leveled the playing field of competition.
Business performance management (BPM) - a relatively new concept to the field of business management, is a best practice enabling improved business results. Recova Research’s perspective on performance management focuses on an “enterprise performance regime” where all enterprise assets, tangible and intangible, create value continuously. The concept of the high performance enterprise is rapidly taking root among innovative firms seeking a competitive advantage.
The high performance enterprise concept currently translates into four steps to achieve improved competitiveness:
- Superior strategy execution
- Meaningful performance metrics
- Effective business processes
- Continuous innovation
Under a high performance regime, organizations can quickly see benefits including:
- Improved decision making due to increased forward visibility promotes cross-functional collaboration across the enterprise
- Improved effectiveness resulting from sound business processes
- Improved agility due to a more responsive supply chain
- Motivated workers due to promotion of innovation processes
The overall effect of a high performance regime is that the organization, with all its assets, capabilities, processes, and talent is now tightly integrated in its support of the business strategy. No effort is wasted or capital diverted from its strategic objectives enabling the firm to create a competitive advantage.