A ten-step framework for setting effective sales targets

By Dr Javier Marcos & Dr Monica Franco-Santos

Most organisations already have some of the elements of this framework, but it is rare to find a sales target system that features the entire framework in a holistic fashion. This framework comprises key practices that are required for ensuring that the performance measures used in the target setting process and the targets agreed are effective.

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Setting Effective Sales Targets

By Dr Javier Marcos & Dr Monica Franco-Santos

Sales targets are extensively used by sales organisations to help achieve a ‘desired’, ‘promised’, ‘minimum’, or ‘aspirational’ level of performance. Setting sales targets are mainly used for motivating specific behaviour, establishing expectation, evaluation and rewarding performance. At present, the use of performance targets seems to be ubiquitous; however, a high proposition of organisations have reported to be dissatisfied with their targets arguing that this management practice is...

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Motivating and Rewarding the Sales Force

By Dr Javier Marcos & Dr Monica Franco-Santos

Motivating your sales force is a critical component of sales force management, given its profound effect on people’s behaviour and sales performance. There are many motivation theories that are relevant to sales force compensation and management as well as rewarding strategies to optimise a sales force.

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Managing and Measuring Sales Performance

By Dr Javier Marcos & Dr Monica Franco-Santos

Sales organisation’s face many dilemmas when managing and measuring sales performance. Sales people may be doing the right thing and may be displaying the right, behaviour, but their results are not captured in the performance measurement systems of their organisations. Very often individuals find themselves trading off between behaviour-based and outcome-based measures.

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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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