The power triangle strikes a BALANCE between its THREE elements - hence the term TRIANGLE and I must add it is a triangle with equal sides indicating equal importance/significance to every element of this triangle.
- BUSINESS/FINANCIAL PERFORMANCE ASPECTS: which include marketing & sales, revenues, operational expenses and profits/loss, market shares, growth (positive/negative) indicators, .... etc ... etc ... etc. Even for non-commercial entities as in the public services sector for example (government agencies, ministries and departments), the financial performance indicators will be replaced by things as the extent the mission/vision is being fulfilled, the degree of achievement of short/medium term goals and objectives, the level of public satisfaction with these services, the overall acceptance and blessing of the key stakeholders, ... etc.
- CUSTOMER SATISFACTION ASPECTS ; which relies on the simple and basic principle that for every entity (public or private, big or small) has its own customers within the entity itself (internal customers) and outside (external customers). These internal/external customers must be highly satisfied with the services given to them meeting the "value-for-money" expectations and beating any potential competitors approaching your customers on Price/performance basis.
- OPERATIONAL EXCELLENCE ASPECTS; where the internal processes are augmented by the most efficient processes, supported by best-fit technologies and run by qualified and motivated people. This will ensure customer satisfaction leading to achieving the business-level (financial and non-financial) goals and objectives.
On top of all of this, it requires the people in charge to stick to the following five successful management/leaderships merits
- OWNERSHIP definition, assignment and acceptance
- Full ACCOUNTABILITY of the designated owners towards performance and results
- EMPOWERMENT of the owners to fully execute their responsibilities at the best possible level to hold them accountable for the results
- Excellent NEGOTIATION practices in every leader/owner and at all levels and directions (up, down, side-ways and within the entities they are responsible for).
- Consistent DELEGATION practices to distribute the responsibilities, streamline the operation, and remove potential bottlenecks/barriers limiting the performance from reaching its optimal levels.
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