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.”

Editor’s Note: This article is written by Paolo Orduña, a Senior Editor at The KPI Institute, and originally published in the PERFORMANCE Magazine Issue No. 26, 2023 – Data Analytics Edition.

The KPI Institute successfully hosted a forum on global trends that will impact strategy and performance management practices in 2023. Dubbed “2023 Business Pulse: 5 Trends Impacting Strategy and Performance Management,” the event was hosted by the TKI Research Division’s business unit manager, Cristina Mihailoaie, and data expert, Islam Salahuddin.

The webinar covered trends in the realms of geopolitics, economics, society and culture, technology, and sustainability. Through careful analysis of these trends, our experts identified the most possible trajectories that will shape the future of strategy and performance management:

• There will be a greater need for more resilient strategies and agile performance management.
• More companies will realize the need for a data strategy that allows for robust data governance.
• Automation will produce better performance results.
• Performance improvement will be achieved through upskilling and reskilling.
• Performance improvement hinges on continuous learning.
• Employee performance management will be reshaped in an employee-centric approach.

“As Peter Drucker said, ‘The best way to predict the future is to create it,’ and this seminar has equipped our participants with the knowledge and understanding to do just that,” said Cristina.

If you have a yearning for learning strategy and performance management skills, you may want to check out our courses. Arm yourselves with the knowledge that you need to successfully ride the business world’s ever-changing trends here.

Linh Do, Head of Professional Services at The KPI Institute Vietnam, shared insights regarding macroeconomic trends and their worldwide influence on performance management practices in the 2023 Business Pulse: 5 Trends Impacting Strategy and Performance Management webinar. In a two-part series of articles, she delves into the trends impacting Southeast Asia and explores potential measures to strengthen performance management in the region.

Identifying the economic, environmental and geopolitical issues affecting Southeast Asia is crucial for understanding its local dynamics and opportunities for growth. Here are some of the emerging trends affecting the region’s landscape.

The global recession.  The ongoing trade crisis between the US and China has led to disruptions in the supply chain: delayed production, longer delivery times, and a lack or excess of stock of specific materials. The region’s trade is correlated with industrial production cycles and any downturn or recession in the global economy, which will affect the market. 

The role of Environmental, Social and Governance (ESG) in strategy planning. ESG is another point worth mentioning and has received a lot of attention lately. In 2023, 30% of companies in ASIA-based 2000 (A2000) capture ESG-related goals in their strategy, and this figure is expected to rise to 40% in 2024. Moreover, third-party assessments will heavily consider ESG factors, with approximately 20% of A2000 companies prioritizing these risks over security, financial, and operational risks. This change is driven by the transition of sustainability performance disclosure regulations from voluntary to mandatory, demonstrating the region’s strong commitment to fulfilling the United Nations’ 17 Sustainable Development Goals by 2030.

The shift in work culture. This shift impacts performance management practices in SEA. Traditionally, the region has been characterized by a culture of long working hours and a focus on face-to-face interactions. However, as work culture continues to shift towards remote work and flexible working arrangements, this could significantly change how businesses operate and manage performance in the region. 

The rapid advancement of artificial intelligence (AI) technologies. This is another trend impacting performance management practices in SEA as companies in the region started utilizing AI to reduce heavy labor costs and stay up-to-date with market developments. However, this will also require upskilling employees to utilize these technologies effectively. 

Adapting to changes and emerging trends in managing performance will be challenging, and there is no one-size-fits-all solution. However, some techniques can fast-track and make the process easier for organizations. If you would like to learn about them, join The KPI Institute’s Certified Performance Management Professional course to stay ahead in the race!

Is your organization prepared to navigate the evolving global landscape?

The KPI Institute will host a webinar titled “2023 Business Pulse: 5 Trends Impacting Strategy and Performance Management” on April 12, 2023, at 22:00 PM GST, live on Webex. The event is tailored for executives and professionals in strategy and performance management seeking to position their organizations for success in the current business landscape.

The participants will gain key insights into the global trends that are influencing strategy and performance management practices. They can also share their on-the-ground experiences and seek advice from the experts. In addition, they will receive a complimentary copy of The KPI Institute’s Annual Global Brief 2023.

The speakers of the webinar are Islam Salahuddin and Cristina Mihailoaie. Islam the data expert at The KPI Institute’s Research Division, bringing together knowledge in data analysis and business research. He possesses valuable experience in conducting market research and business analysis, focusing on the infrastructure sector. His academic and background in mass communication and data-driven journalism further enhances his ability to provide unique insights and perspectives to his work.

As the business unit manager of the Research Division at The KPI Institute, Cristina is responsible for developing the strategy for the research business line and overseeing the development of new educational products. With extensive experience in the field, she has presented at numerous international conferences, such as the Human Resources Shared Services Summit and Expo in Chicago (USA) and the HR Directors Summit in Birmingham (UK). Her presentations offer valuable insights into optimizing performance management systems to provide added value to organizations.

Don’t miss out on this opportunity to learn how to stay ahead of the competition in the ever-changing business environment. You can register now by completing the form: https://buff.ly/414TJpV

For inquiries, contact:

Alaa Safwan

Event Manager

Email: [email protected]

WhatsApp: +961 71 590 467