Theoretical development of a business performance management (BPM)
business performance management, BPM
The Business Performance Management (BPM) framework helps an organization continuously adjust and successfully execute its strategies. BPM helps increase flexibility by providing managers with a sense of uncertain changes earlier and allows faster response to such changes. It thus helps organizations address market opportunities. The purpose of this study is to develop a common general framework for the business performance management model by integrating the practitioner literature. Examination of the practitioner BPM models suggests that they have common constructs. All BPM models use integrated data and data analysis to (1) develop strategies, (2) devise action plans (e.g., definition of targets, models, projects, and initiatives) in terms of metrics and key performance indicators (KPIs)) to deploy these strategies, (3) define, measure, and manage performance against metrics and KPIs, and (4) adjust strategy and/or performance. Based on the literature review, a BPM model was proposed and presented at the 2007 Monfort Summit. The 2007 Monfort Summit was a gathering of Baldrige Award Recipient (BAR) members and a small group of selected researchers from across the United States. We present the revised BPM model based on the feedback provided by the 2007 Monfort Summit participants.
Presented on February 27, 2009 at the SouthWest Decision Sciences Institute (SWDSI) conference in Oklahoma City, Oklahoma.
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