Global insights: The KPI Institute unveils the current landscape of strategy management
The KPI Institute (TKI) has released the “STATE OF STRATEGY MANAGEMENT PRACTICE – 2023 GLOBAL REPORT”, which offers an analysis of the factors influencing strategy planning and provides recommendations on how companies can effectively address gaps in the process.
TKI, a leading global research institute specializing in business performance, conducted the study with 346 respondents representing 69 countries from April to June 2023. This extensive report encompasses key subjects in strategy and performance management, organized into three sections: planning, measurement, and execution. The report also presents suggestions for optimizing strategic approaches and achieving organizational excellence.
One notable finding from the study indicates that gathering insights on value drivers for customers serves as the foremost enabler of strategic planning in organizations. According to the report, “[The result] underscores how respondents perceive the impact of understanding and meeting client needs on driving successful strategies and highlights the importance of customer centricity.”
The strategy measurement section revealed that key performance indicators are employed equally in corporate performance evaluations and employee performance reviews. The results also show that the Balanced Scorecard and Objectives and Key Results are respondents’ most frequently utilized performance management frameworks.
In the execution section, it is emphasized that enhancing the frequency of performance reporting enables professionals to take proactive measures in response to emerging trends and issues. The majority of the respondents preferred monthly evaluations, followed by quarterly and annual reviews.
For more insights, visit the TKI Marketplace and download the “STATE OF STRATEGY MANAGEMENT PRACTICE GLOBAL REPORT – 2023.”