The Importance Of Business Performance Management

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Business Performance Management’s primary focus is to strategically manage the performance of the organization. This is achieved through its two main characteristics, the Management Process and Analytical Procedure (Ballard et al. 2005). Information is the most important strategic resource that supports the business decision making process. Information and Communications Technology ensures that information is stored, retrieved, manipulated, transmitted or received electronically. The current economic setup compels BADIRI to align its BPM activities internally and optimise its performance strategies; thus enabling business to capitalise on market value adding opportunities. Increasing stakeholder value is a primary growth requirement for…show more content…
Predominately an engineering company, the organization has multiple business types of structures, and each business has its own culture, processes, systems and goals. Its growth intend over the years led to formulation of multiple business entities, which are registered as separate trading within BADIRI. Formulation of these businesses has in many occasions started as an exploratory process, where the bigger organization decides to explore different ventures within the petro-chemical environment, and eventually the success of such projects result in the formation of a new business entity. To support such structures, various service and support oriented functions are developed for management of the organization’s research and development, technology innovation, and project management programmes. The specified functions are imperative to enable growth and competitive advantage within BADIRI, because they support and provide a service to the engineering business…show more content…
BI concepts used include, Business Performance Management, Online Analytical Processing and Data Mining (Ballard et al. 2005). Business Performance Management is critical for alignment and adequate management of both strategic and operational objectives, and also ensuring that strategic and operational objectives are measured against the actual organization’s strategy. Aligning the BPM characteristics to BADIRI’s Performance management related challenges; the company must have the right BPM processes, frameworks and systems to optimise its performance through alignment of operational activities to its strategy, and provide real-time performance measurement and management reporting. BADIRI has a major drive to consolidate its business units, processes and systems, and this research focuses on a consolidated ICT enabled BPM Framework guided by the BSC

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