Business Performance Management

In: Computers and Technology

Submitted By brijen1909
Words 5951
Pages 24
BUSINESS PERFORMANCE MANAGEMENT IN RETAIL INDUSTRY

ABSTRACT

The ability of businesses to drive sustained improvement in their performance is significantly hampered by the seven challenges (strategic misalignment, local optimization, uncompetitive reactions times, etc.). The situation is being continually exasperated due to the factors such as volatile economic and regulatory conditions, emerging management techniques, multi-organization business models and underutilized operational information.
In this research paper we are discussing as how BPM helps in resolving the above factors, BPM in retail industry and also about how business performance provides businesses with solutions that allow them to cost-effectively adopt the cultural changes to their management process by providing a systems infrastructure that spans the entire business, regardless of business unit or even enterprise boundaries.

KEYWORDS

Business Performance Management, Process Management, Business Intelligence, Enterprise Application Integration, Strategic Business management, Retail Business Performance Systems.

INTRODUCTION

In the face of an increasingly fast-paced business environment, many businesses struggle to anticipate, let alone meet, their stakeholders’ objectives. At the same time they are under increasing pressure to maintain strong corporate controls and offer greater degrees of transparency. Misaligned strategies, outdated plans and unreliable forecasts inhibit success. Many businesses depend on performance measures that lack consistency and which fail to reflect the structural business drivers. They cannot reliably understand the past in time to make decisions about the future.

In response, business managers are being asked to assimilate vast amounts of information, adopt new management techniques (for example, Economic Value Added (EVA®), Balanced Scorecard,…...

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