Performance management

It means managing performance so as to achieve whatever the organisation believes it is important to each achieve.

First you need to decide where it is important for an organisation to perform well if it is to succeed. Then find ways of measuring those areas. Set targets. Measure. Feedback.

For example, in a hotel, good performance will ultimately mean good prófits but that requires good occupancy rates. Set targets for that.

Good occupancy rates depend on a good reputation, repeat business, competitive prices, winning corporate clients. Set performance targets for those, measure and investigate results.