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?Innovation, improvement must for survival & growth?

ICFAI BUSINESS School Indore organised a two-day interactive workshop on ?Business performance measurement and improvement system towards organisational excellence? recently.

india Updated: Mar 06, 2006 14:42 IST

ICFAI BUSINESS School Indore organised a two-day interactive workshop on ‘Business performance measurement and improvement system towards organisational excellence’ recently.

The main objectives of workshop were to provide comprehensive knowledge on business performance measurement and improved system so that companies could introduce the same in their organisations and to briefly discuss improvement techniques related to operations, materials, marketing, finance, human resources and information system.

The programme was designed by ICFAI faculty – Operations and Finance Prof D T Manwani. Managing directors, directors and senior managers of medium and small-scale industries of Indore, Dewas and Pithampur attended the programme.

Eicher Motors CEO Rakesh Kalra inaugurated the programme, while Dr Manoj Bhatia center head ICFAI Business School Indore welcomed Kalra.

In his keynote address, Kalra emphasised the need for business performance metrics, alignment of key performance areas to vision of the company and measurement of organisational goals.

He reiterated that innovation and continuous improvement are absolutely necessary for survival and growth of the organization. He gave examples of the extinction of Fortune 500 companies, which did not bring innovation in their products, strategies and business processes and also shared his experiences at Eicher.

Prof Manwani explained the concept of productivity as business performance metric and introduction of productivity measurement and improvement system (PMIS) throughout the organization.

He discussed the performance objectives-productivity (POP) model, which draws strengths from management by objectives and system theory. POP model utilises techniques of goal programming and multi attribute analysis to calculate objectivated output which is possible to be achieved under the given environment and constraints.

He then illustrated the concept of calculation of productivity index of entire enterprise (system) by measuring performance of key performance areas of various sub-systems like operation, marketing, materials etc. He informed the participants the applicability of PMIS to all types of manufacturing and service sectors.

Prof Dhiraj Sharma, anchor of the workshop, illustrated the process of developing productivity measures for marketing sub-system. He helped participants to develop measures for customers, brand and marketing assets and their impact on net marketing contribution on organisational efficiency.

Dr Jyoti Sharma discussed role of HR in organizational effectiveness. By HR performance metrics, we can make employees more committed and involved in the company. Involving employees can enhance their contribution and in-turn enhances productivity, she said.

Prof Abhay Kothari explained various types of Information systems and possible productivity improvements by using these systems. Prof Kapil Sharma explained various financial performance metrics for the measurement of financial health of company.

Tata International Ltd Dewas president O K Kaul made a very lively and informative presentation of Tata business and knowledge model, which is based on Malcom Balridge model. Prof D T Manwani proposed the vote of thanks.