A CEO receives a full bonus in a year when the share price fell by 70%. Why? Because the remuneration committee say he has `met all his operating targets'. Have the right operating targets been set?If you are going to manage by numbers, make sure they are the right ones.Understanding your organization's key performance drivers is crucial to the success of your business. Too often, the wrong operating targets are set, and bad targets can bring bad performance.Smart Business Metrics provides the tools that will enable you to make strategic decisions based on factual analysis. It shows how smart metrics can produce joined-up management to allow all parts of your business to work together to create value for the firm. Smart Business Metrics will:* help you understand your organization's key performance drivers* show you how to set the right targets and measures for your business* enable you to apply quantitative measures to the behaviour of your managers, customers and employees* allow you to make financial and operational decisions* provide you with the tools to enable you to make strategic decisions based on factual analysis.
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Bob Phelps is a director of BPN Consulting and teaches Strategic Decision Science at the Cranfield School of Management. He led the UK Analytics group at McKinsey and the European Measurement practice in Towers Perrin, as well as carrying out financial risk consulting for CCN Decision Systems.He has managed the development of information systems for SWIFT and intelligent systems development for BP. Consulting clients have included major players in the financial services, telecomms, retail and media industries and he has extensive experience in Europe, the US and Asia.He specializes in measuring and clarifying firm level strategy and helping management understand and focus on the key success actions unique to their business, supported by the creative use of modelling techniques.He has edited books and published papers on strategy, decision making, operations research, information systems and artificial intelligence.Review:
"There are hundreds of books and articles about performance measurement, but few that really explain how to design robust measurement systems. This is one of the few that does and it does so in a way that is both engaging and actionable" - Andy Neely, Chairman, Centre for Business Performance, Cranfield School of Management"Performance management is a critical concern for service businesses, and it's a difficult nut to crack. Smart Business Metrics shows how to improve performance based on the facts of each individual business, avoiding the trial and error approaches that often pass for expertise" - Camilla Aitchison, Director Management Development, Dixons"A practical approach that brings to light how the right balance of art and science combined with tailored metrics for each organization removes the blindfold of `me-too' solutions and leads to success in the company" - Kanogkpun Krabuanrat, Director, ACNielsen
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