Performance Management

Question of the Day - How Good Do You Want to Be?”

Developing Your PRIME (of first importance) Leadership Model 

The Academy of Family Business (AFB) recently completed an impressive performance management system that could, and should, address a serious under-achievement problem identified by the Harvard Business Review. The writers (HBR-Mankins and Steele – R0507E) contend that most organizations have a 60 – 100% strategy-to-performance gap. Most organizations don’t have the leadership focus, or know-how, to close this gap. Companies strong on strategy and execution potentially can add that to their bottom line. It comes down to: “How good do you want to be? Why not go for it?”

Leadership is defined as doing the right things (strategy) and management is doing things right (execution). The way you can do both is through a performance management system. We have named our system “PRIME Leadership Model.” PRIME is defined as “of first importance” and that is what we have to make it! Positive results can be predictable when strategic objectives are systematically achieved. Here is what it takes to make it happen:

 Performance Management System or, what we call the “PRIME Leadership Model”

1.     A strong team leader providing sound direction.

2.     A leadership team trained in best-business-practices and uses them.

3.     Develop and execute a plan to produce “your best results.”

4.     Regular performance review meetings to assess progress and make performance improvements.

5.     Keep looking for “what else can we do?” and, ways to help team-members. 

It’s nothing short of strong commitment to take extra measures to be as good as you can be. This takes real leadership (talent, knowledge, and skills). AFB can help you develop the critical knowledge and skills to achieve “your greatness.” Want to know more? Email us at info@myafb.org.

¹Included in both The Academy of Family Business and sister company LeadershipOne