A Component of Linked Execution – A Business Integration Solution
Linked Execution is a methodology that helps businesses clearly evaluate and improve the way a company presents its entire portfolio of products & services more effectively to their customers/clients across all channels of interaction. The model has five main components that can be implemented as a group or independently of one another. We’ll be examining each of the five components here on FinSights during the next few months.
The previous posts on Sales Enablement and Referral Management, two components of the Linked Execution model, discussed both the approach needed to bring an enterprise to bear as well as leveraging a single customer to deliver the right products and services for a more beneficial relationship.
In its simplest form, Performance Measurement is a triple-pronged approach, with communication, enterprise alignment, and reporting three vital requirements for success.
C-level executives set a clear business integration vision and strategy, along with goals to track progress. Activities and results must be clearly articulated and measured at all levels – from the lines of business leaders to individual sales team members.
Align the Enterprise
Leaders across business units should work together to determine a plan of action to reach enterprise-wide goals. Along with business unit alignments, the company must ensure other key players and support teams are bought in. Think of the importance of the HR team, for example, both in developing incentive structures and in defining an organizational change strategy to support the goals. Key functional partners include people, technology, and operations groups. These partnerships must be in place to support the overall business integration vision.
Add Reporting Rigor
Once the business unit, function, and team plans are aligned with enterprise goals, an evaluation process must be implemented to ensure all team members are sticking to the plan. Customized reports that capture both the sender and receiver of referrals are essential parts of tracking – not just for totals, but also for referral quality and for execution on the sales aspect of delivery. This dynamic information (a dashboard, accessed via tablet, smartphone, or laptop) will flow back up through the business, consolidating and rolling up as appropriate – tailored to each level of the organization. Companies can expect technology investment needs here to support the reporting of plan versus actual results, an indicator of how closely the organization is aligned with the enterprise goals.
Performance Measurement, as a component of Linked Execution is all about communication and collaboration across the business. It emphasizes the importance of each individual team member and puts a plan in place to ensure all are operating together toward a common vision, strategy and goals as directed by the company’s executives.