The Performance Prism
The Performance Prism is a second generation performance measurement and management framework that is innovative in its approach. Its advantages over other frameworks are that it addresses all of an organisation?s stakeholders - principally investors, customers & intermediaries, employees, suppliers, regulators and communities. It does this in two ways: by considering what the wants and needs of those stakeholders are and, uniquely, what the organisation wants and needs from its stakeholders. In this way, the reciprocal relationship with each stakeholder is examined. The Performance Prism then addresses the strategies, processes and - importantly - the capabilities that are needed in order to satisfy these two critical sets of wants and needs.
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The Performance Prism can be used in many different working environments - including not-for-profit organisations. Although its principal application is for corporate or business unit scorecards, if there is a specific need to examine, and select appropriate measures for, the relationship with a specific stakeholder - customers or employees, for example - then it is fully adaptable to that use. It can also be applied to a particular function (like R&D) and to specific business processes (such as fulfilling demand). We have used it too to develop measures for managing post-merger integration, developing an e-business, running a charity, and managing in a downturn. It really is extremely flexible.
The Performance Prism book
Let us know your experiences
If you have used the Performance Prism, or elements of it, we would be really interested to hear your experiences. Please contact Prof Mike Bourne (email@example.com)