The bedrock of the traditional management process is multi-year strategic plans, static annual budgets, quarterly forecasts, monthly reports, and—most dangerous of all—a compensation philosophy that’s as likely to reward failure as it is success. We need a new manifesto for business performance management, one that recognizes that volatility, uncertainty and risk are here to stay. And we must implement behaviors, processes, and systems that allow managers to make effective decisions. At a minimum, BPM must apply these ten rules.
Author: David A. J. Axson
Source: Business Finance Magazine
Subjects: Finance, Management