Excellence meets expertise. The KPI Institute (TKI), leveraging decades of experience and capabilities through its Global Performance Audit (GPA) Unit, has presented the Tourism Development Fund (TDF) of Saudi Arabia with an Excellence Award. This award acknowledges the organization’s high-level strategy and performance management practices.

The KPI Institute, a globally trusted reference for organizational performance standards, along with a team of experts from the GPA Unit, conducted the maturity assessment for TDF. The process covers five key organizational capabilities: strategic planning, performance measurement, performance improvement, employee performance management, and organizational culture.

The Integrated Performance Maturity Model is a proprietary evaluation framework that relies on a sound collection of information through client documentation review, survey insights, and brief interviews with key internal stakeholders. All findings are rated against best practices using a scoring methodology. The evaluation of TDF concluded with a final score that positions the Fund on maturity level IV out of V.

”The level of maturity encountered in Tourism Development Fund regarding researching and involving stakeholders in strategy formulation and planning, as well as their ability to convey effectively the essence of corporate strategy and KPIs, prove that advanced performance management systems can be built in the early years of an organization. More than that, they are fostering a sustained growth and evolution of the business,” said Cristina Mihăiloaie, Lead Consultant on the maturity assessment project for TDF.

Qusay bin Abdullah Al Fakhri, the Fund’s Chief Executive Officer, views the award as an achievement for the tourism system and commends the unwavering team spirit that has enabled the office to attain the highest quality standards in organizational performance. “This achievement is a direct result of the unwavering dedication of our team, led by the Strategy and Organizational Excellence team, in addition to the Performance and Talent Management team of the Fund. It emphasizes the significance of our ongoing efforts and determination to fulfill our promises and goals.”

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About the Tourism Development Fund (http://tdf.gov.sa/)

The Tourism Development Fund was established to empower and develop one of the Kingdom’s most rapidly growing industries. As tourism is a key driver to achieving the 2030 Saudi vision, the Fund plays an important role in attracting and supporting investments and providing support for the private sector to incentivize the development of the tourism ecosystem.

Contact: +966-11-920011552

Email: contact@tdf.gov.sa

About The KPI Institute (www.kpiinstitute.org)

The KPI Institute is a worldwide leader in performance management and KPIs training and certification. It operates research programs in 12 practice domains, disseminates industry insights through publications and knowledge platforms, and provides support in deploying those insights through training and advisory services.

Improve your organization’s performance management architecture with the maturity assessment services offered by The Global Performance Audit Unit, the strategy and performance audit division of The KPI Institute. Explore additional offerings at www.gpaunit.org.

Contact: Adrian Brudan, General Manager EMEA, The KPI Institute

Email: adrian.brudan@kpiinstitute.com | Mobile/WhatsApp: +40 721 233 084

Recent developments in artificial intelligence (AI) and machine learning (ML) have profoundly impacted data analytics, allowing for informed, real-time decision-making and improved strategy execution. As interest in data analytics among C-suite executives increases, it is crucial to understand how it can be used to empower strategy and performance management.

The KPI Institute, a leading global research institute specialized in business performance, is proud to announce the publication of the 26th issue of Performance Magazine, which goes on a deep dive into how data analytics is being used to transform the way companies operate, develop business strategies, and manage performance. This issue also includes best practices and case studies on integrating innovative technologies such as AI and ML into an organization’s operations. 

Our cover story features insights from Madhur Mayank Sharma, senior director and head of AI development at SAP Asia PTE LTD, who shared his thoughts on how to develop a forward-thinking, dynamic data strategy. In addition, we also feature a plethora of experts in the field of data analytics, each of whom has provided a unique perspective on how organizations can create a data strategy and establish a data-driven culture.

Furthermore, our very own experts from The KPI Institute provided answers to questions on data analytics, such as:

• How can organizations bridge the knowledge gap between data analysts and nontechnical stakeholders and decision-makers?
• How can managers and executives stay up-to-date with the latest advancements in data analytics?
• What are the most important KPIs for measuring the ROI of data analytics initiatives?

This issue also includes in-depth articles on topics such as how to leverage data for sustainability strategies, how to use business simulations to practice decision-making and problem-solving skills, how to identify whether or not the data gathered is of “good” quality, and how businesses can avoid falling prey to hype by adopting technologies that actually matter. 

Aspiring data analytics professionals will also learn a lot from our Career Insights section, which features an article detailing the importance of building a strong statistical foundation. Readers can also peruse our recommended resources, which include books, podcasts, webinars, and more.

Ensure your organization doesn’t fall behind on the latest data analytics trends impacting business, strategy, and performance management by checking out the latest issue of Performance Magazine today! You can get a digital version via the TKI Marketplace or order a printed copy from Amazon.

Editor’s Note: This article is authored by Islam Salahuddin, a Business Research Analyst, and Len, the Chief Editor at The KPI Institute and originally published in the 25th printed edition of PERFORMANCE Magazine.

The KPI Institute achieved another year of record-breaking success in 2022, with 5,553 individuals participating in 336 course deliveries. This marks the seventh consecutive year of growth for the global research organization dedicated to setting standards in strategy and performance management-related professions. Compared to 2016, the number of participants in The KPI Institute’s Premium Certifications grew fivefold, up from 898.

With 19 years of experience providing performance solutions, The KPI Institute has successfully trained thousands of professionals in strategy and performance management-related disciplines with the support of its 40 partner organizations worldwide. The organization offers a variety of course delivery options, including virtual classrooms, face-to-face groups, and self-paced eLearning classes.

Live online courses remain the most popular delivery method, chosen by 3,664 participants. This trend has continued for the third year in a row since the launch of live online courses in 2020, far surpassing the number of participants who opted for in-person sessions, totaling 1,889. 

“We are thrilled to report another year of exceptional growth. This success can be attributed, in part, to the organization’s expansion of course offerings. With this, we remain committed to providing top-quality training and insights through our research programs and publications. In addition, I would like to thank our partner organizations that are contributing to fulfilling our vision,” Cristina Mihăiloaie, business unit manager of The KPI Institute’s Research Division, said.

The courses offered by The KPI Institute are designed to enable professionals and organizations to adapt and succeed in today’s business environment. Some of the certifications are Certified KPI Professional and Practitioner, Certified Strategy and Business Planning Professional, and Certified Performance Management Systems Audit Professional. 

Check our partner organizations here, or apply to become a partner organization of The KPI Institute.

In the previous article, Linh Do,  Head of Professional Services at The KPI Institute Vietnam, highlights the geopolitical, environmental, and economic challenges that impact Southeast Asia. Understanding these factors is crucial for grasping the local dynamics and uncovering regional growth opportunities. In this article, Linh will delve into potential measures that can be implemented to enhance performance management in the region. 

Improving performance management in Southeast Asia involves diversifying their supplier base, investing in innovation, enforcing sustainable practices, leveraging AI technologies, and upskilling employees.

Implement risk management strategies. To mitigate the further impact of global recession and trade disruption, companies should pay attention to risk management in planning their strategy and manage them accordingly. This begins with implementing proactive risk assessment measures to identify potential threats that might negatively affect their business and the weaknesses within their operation that might strengthen those impacts. Subsequently, companies can employ various remedies to address these vulnerabilities. Organizations can secure a steady supply of raw materials by evaluating alternative sourcing options, establishing backup suppliers, and exploring local or regional partnerships while mitigating the risks associated with production delays and cost fluctuations.

Capture and manage the impacts on ESG-related matters. Businesses will need to manage this aspect through effective strategy planning associated with performance management practices, such as setting objectives to identify opportunities for sustainable business growth, reduce carbon footprints, and implement sustainable supply chain practices. Some KPIs to consider may include # Initiatives to promote environmental responsibility,  % Current production lines that are environmentally friendly, and % Energy produced from renewable sources.

Adjust performance management practices to stay productive in the new work arrangement. To ensure remote workers remain engaged and productive while maintaining a sense of connectedness and collaboration with colleagues, companies like Lazada have implemented remote work policies, providing online training programs and running digital Employees Net Promoter Score surveys to support their engagement and professional development. In addition, companies should move the focus from measuring process KPIs such as # Work hour to finish a task to more output and value-oriented KPIs such as # Tasks done on time that meet the requirements.

Utilize new technologies effectively. An excellent example of this is companies like Grab and DBS Bank have implemented AI technologies to streamline operations and improve customer experiences. To succeed in AI implementation, companies need clear performance metrics. Depending on their goals, such as cost reduction or lead time improvement, relevant KPIs can be used, like % cost saved or # lead time using AI technology.

Identifying the optimal approach to maintain resilience in this highly dynamic environment is challenging, yet managing them to ensure relevancy and effectiveness is even more arduous. Therefore, it is important to equip yourself with comprehensive knowledge and skills to facilitate these processes. 

Elevate your competitive edge by enrolling in The KPI Institute’s Certified Strategy and Business Planning Professional and Certified Performance Management Professional courses, allowing you to gain insights into these subjects and maintain a leading position in your field.

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!

In recent years, businesses have placed a greater emphasis on sustainability. However, pursuing sustainable business as a primary strategy differs from merely engaging in sustainable practices. The Performance Magazine Issue No. 25, 2023 – Sustainability Edition presents in-depth analyses and practical perspectives on the latest issues and trends in incorporating sustainability into operations and strategies. 

Moreover, this issue provides guidance for organizations looking to successfully adopt sustainable practices as well as the challenges and opportunities involved in the process. 

Gracing the cover of this issue is  Eelco van der Enden, chief executive officer (CEO) of Global Reporting Initiative. He shared updates on sustainability reporting practices worldwide, discussed the importance of the participation of small and medium-sized enterprises (SMEs) in sustainability reporting, and emphasized how sustainability creates value for stakeholders and becomes crucial for long-term success.

Readers will also gain valuable insights on how to foster a culture of sustainability in organizations through exclusive interviews with sustainability experts from different companies, such as Kearney, Almarai Group, FIFA World Cup™, and Accenture. 

Furthermore, experts from The KPI Institute will provide answers to pivotal sustainability questions affecting organizations today:

• What are the key drivers of sustainability in organizations, and what role does the performance management system play in creating a sustainable organization? 
• What KPIs are a MUST in reporting sustainability matters? 
• How can an organization create meaningful sustainability reports?

The magazine includes articles highlighting best practices in strategic planning, strategy execution, employee performance, benchmarking, data analysis, and data visualization. Moreover, the latest edition now includes a new section called Career Insights, which features the article, “The power of process thinking for performance management professionals.” Additionally, readers can access a variety of informative resources on strategy and performance management in the Recommended Resources section.

To expand your knowledge on sustainability as part of strategy and performance management, be sure to check out the latest issue of Performance Magazine. You can download the digital version through the TKI Marketplace or order a printed copy from Amazon.

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: alaa.safwan@kpiinstitute.com

WhatsApp: +961 71 590 467

The KPI Institute’s Certified Strategy and Business Planning Professional course schedule for 2023 is out now. This training program is designed for professionals and organizations aiming to stay relevant, agile, and innovative in today’s fast-paced world.

The certification is the result of a complex, experiential learning program that has three sections: pre-course activities, three days core-course activities, and post-course assignments. Throughout the course, participants will learn how to develop a strategic mind frame, explore key strategy planning concepts, apply strategy planning tools to individual and team exercises, and reflect on the best practices in the field through case studies and debates.

In addition, the Certified Strategy and Business Planning Professional course provides access to a network of specialists, who are encouraged to share business opportunities and innovative solutions to strategy planning challenges.

Among the topics in the course are the architecture of the strategy planning process, internal and external environment scanning, cascading the strategy from the corporate level, identifying KPIs for strategic objectives, and setting targets for KPIs.

Check out the Live-Online and Face-to-face classes of the Certified Strategy and Business Planning Professional course today here.

For questions about our courses, contact:

Sasikala Annamalai 

Senior Business Development Manager

E: sasikala.annamalai@kpiinstitute.com

M: +60 12 591 1366

Teodora Gorski

Managing Director MENA

E: teo.gorski@kpiinstitute.com

M: +971 55 787 6427

Alexandru Muntean

Head of Customer Engagement

E: alex.muntean@kpiinstitute.com

M: +40 747 060 997

The newest edition of the PERFORMANCE MAGAZINE is now available in The KPI Institute’s Marketplace and Amazon.

The 22nd edition of the Performance Magazine focuses on how data may transform businesses while producing significant results considering that in today’s generation, everything is developing fast and drastically, including how plans are established and implemented, as well as how employees carry out their jobs. 

On the cover, join Kevin Hartman, Google’s Chief Analytics Evangelist, and dive into the world of data analytics. Discover how data creates new structures and dynamic bonds while embodying digitalization.

Moreover, this issue explores how artificial intelligence affects performance management, what makes a strong data strategy, and what the top business intelligence trends are like in 2022. It also covers the digital initiatives of several cities across the world using performance assessment methods and strategic development ideas. This edition can be an instrument for learning how to embrace technological change while making achievements in sustainability.

The 22nd Performance Magazine highlights the following:  

• The state of strategy and performance management in 2022
• Updates on industry trends, best practices, and innovations
• Role of data analytics in business strategy and performance
• Interviews with strategy experts and academicians
• Comprehensive global analysis and concept presentations
• Exclusive insights from top consultants
• Guides in boosting personal performance
• Recommended resources and tools for data savvy and decision-makers

Learn more about data analytics, innovation, and digitalization in relation to strategy and performance management while reading through each page of the PERFORMANCE MAGAZINE Issue No. 22, July 2022. You can grab a digital copy in The KPI Institute’s Marketplace or through this link: Performance Magazine 22. For an additional printed copy, you can order yours via Amazon. 

“Learning is changing, and management is changing. But it’s exciting to be part of this change,” according to Dr. Aurel Brudan, CEO and founder of The KPI Institute. 

In a podcast interview hosted by Lu Ngo of ILMS, Dr. Aurel shared his knowledge and insights on the changes that organizations have been navigating since the pandemic started. With over 19 years of international work experience in Europe, North America, and Australia, Dr. Aurel has delivered training and learning sessions in a variety of settings for different industries. His areas of expertise include strategic and operational planning, project management, and strategic performance management systems implementation.

In the past two years, Dr. Aurel said that the interest in digital transformation, advanced analytics, and artificial intelligence has increased. In terms of strategy and performance management, he explained that the trends revolve around agility, innovation, and relationship management, which shapes how companies interact with customers and employees. He stressed the importance of constantly monitoring the business environment and responding to the changes accordingly.

One powerful change he observed is “the accelerated pace of innovation,” which influences how people experience services today, such as dining and shopping. He pointed out that innovation can be driven by either organizations or individuals who now have more time to “refocus their efforts and reprioritize things in their lives.”

According to Dr. Aurel, The KPI Institute is also adapting to the times in several ways. Its latest efforts are enhancing research frameworks across various research centers, restructuring learning journeys, and exploring the practice of consulting 4.0 or delivering consultancy services in a virtual environment.

Dr. Aurel also delved into the most pressing issues that affect how organizations develop their strategies. He explained how integrating sustainability into business plans could affect profitability and how a certain level of capability maturity can sustain operations. He expounded on the equilibrium between efficiency and resilience as well as the concept of well-being performance. In addition, he described how too much efficiency can affect the productivity and attitude of employees.

One of the questions that Ngo asked Dr. Aurel concerns organizations with limited resources: How will they be able to apply the new best practices in order to thrive these times? Watch the whole podcast interview to find out what he believes is the best solution.

The other topics discussed during the interview are:

• The three major changes in managing and measuring employee performance in work from home setup
• The four enablers of the changes in strategy and performance management
• How The KPI Institute applies the latest concepts in strategy
• Two important practices that will shape the workplace culture in 2022

Discover them all by watching Dr. Aurel’s entire interview now!