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SFPM provides an integrated performance management system ideal for use in modern organizations facing the challenges of improving internal controls whilst meeting the needs of customers, shareholders and other stakeholders.
How we can help business managers and investors.
Business Management:-
We can help you by providing a new perspective and approach to strategy planning, business management and performance management. Our approach ensures that both lag indicators (financial results) as well as lead indicators (investment in human resources, processes and organizational development) are optimized. Using a modified balanced scorecard approach which incorporates all stakeholders, we provide a far more balanced methodology of managing your business for continued success.
Investors:-
Companies that manage their stakeholderexpectations and contributions are more likely to succeed in the long term and maximize overall business wealth. Harmony Re provides a comprehensive business evaluation model which enables you to evaluate investments based on an overall stakeholder focused model.
The combined model enables organizations to publish public information directly to the investorment community in a structured format, which includes additional relevant data on stakeholder interfaces.
This approach enables your business to succeed at unprecedented levels leading to better market perception, stronger performance and improved business value.
How We Do This.
Our methods involve two main processes:-
1. Working directly with companies to initiate large scale change - This paradigm shift is usually applied to correct ailing companies, as well as to shift market leaders ahead of their competition.
2. Provide an effective framework for companies to continuously manage strategic change on an ongoing basis.
3. Provide an effective investment analysis platform to assist investors to invest in those companies with strong future growth prospects.
How is this done?
SFPM achieves this by redefining the way we look at business, by taking the most logical approach - focusing on the business interfaces with stakeholders, and defines measures for these interfaces.
This is achieved by using our structured stakeholder focused system that takes effective business to new levels of success. This is achieved through:-
1. Ensuring that all stakeholders are integrated in the planning process. i.e. During strategic planning, the expectations and contributions of each stakeholder are investigated and clearly identified.
2. Identifying what core business processes are actually needed by checking stakeholders expectations and contributions. This enables the business to re-engineer the company in the most effective manner.
3. Defining what detailed activities are required for each process. These activities are derived from the core competences of the business. Where needed non-core activities and processes can be outsourced.
4. Providing a comprehensive performance management system which ensures that:-
- stakeholder expectations and contributions are being met.
- processes are meeting their required targets.
- activities are achieving their objectives.
- Initiatives for improvement are in place for underperforming areas. This is linked directly to a project management process to ensure ongoing improvement.
SFPM(c) assists companies by identifying clearly both internal and external strategic goals. It benefits the company as it:-
- Has relevance to the whole organization and the organizations stakeholders.
- Is practical to apply and provides measurable results.
- Improves processes by focusing on the relevance of any activity carried out to meeting the needs of stakeholders.
- Provides an improved model for accountability by embedding stakeholders in the core design of performance measures and management activities.
- Identifies internal competencies and strengths and applies these to activities which make up the stakeholder focused processes.
- Ensures that the company meets the needs of the new Sox, Jsox and other regulatory requirement needs by linking processes and performance measures directly to stakeholders expectations.
The result of this approach is a reduction in uncertainty, stakeholders can easily see that their needs are being addressed. The SFPM model can be compared with the motivational theory approach which was applied to employees in the past. SFPM expands this to all the relationships a company has.
Hygiene Factors
- Avoiding negative actions by local communities and pressure groups.
- Satisfies Regulators.
- Avoid reputation risk which can damage the brand.
- Makes organization aware of potential legal changes before they become law
- Communication improved as parties are aware of each others expectations and required contributions.
- Improved work environment for employees
- Stakeholders less likely to instigate expensive litigation as their interests are constantly monitored.
Motivating Factors
- Ability to focus more on core business knowing all stakeholders needs are being addressed as a regular part of business. Reduces reactive management style requirements.
- Improved ability to service customers by focusing on what they expect.
- Takes advantages of new opportunities created by changing legislation. (monitoring changing legislation is a result of being aware of the Government as a stakeholder and therefore meeting their expectations which are laid out in emerging bills and acts - this can lead to early identification of new opportunities and threats.).
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