It's not all about the money: Why the key to business performance is not to over-emphasise the financials

By professor mike bourne

 

Where to focus their attention is an important strategic issue for companies, and one that needs active consideration. Are you in danger of over-emphasising the financials? That is a contentious issue given today’s economic climate; how can we possibly over-emphasise the financials – particularly in the current situation? Companies have a duty to ensure their survival and thus have to take the necessary steps to make their business robust, especially in the climate most organisations...

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The dark side of performance measurement

By Dr Andrey Pavlov

Just a couple of years ago, Lloyds Banking Group was fined a record £28m for operating a system of targets and incentives that drove their staff to engage in a multitude of harmful and dysfunctional behaviours. First, Lloyds promised the market analysts it would double the number of customers. This was then translated into a “sell or be demoted” plan for the Group’s employees, which placed them into a system of tiers based on sales volume. For a middle manager, falling by one tier would...

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