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How to achieve performance targets

For setting performance targets we must follow some simple steps.

Step 1: Deciding performance area for improvement and identifying outcome.
The selection of priority areas depends upon the objective needs, and demands. Categorize your
tasks in groups to identify your performance level.

Achievable Those tasks of my project which take less time and with less efforts I can
complete, but if you set the bar too high you risk deflating and discouraging them instead.

Realistic - setting realistic targets means being fair on the people who will have to reach
them, on which you are confident enough that you have all those resources to complete in your
decided time line.

Time-bound Make clear deadlines, categorize those tasks individually for which you
dont have complete resources and you are not sure about the time it will take to cater or
complete, cz that will be going to affect your performance.
Step 2: Prioritize the tasks and Set indicators
Make priority list of tasks according to your decided area to work on, so you may work on them
with objectivity and efficiently, make priority according to urgency of completion, or make
levels. Assign priority number to each task that is from 0 to 10, o is for most important task to do
for specific area and 10 is to focus at the end.
Identifying the Indicators for outcome In the first step outcome of the interventions are
objectively pointed out, but these outcomes have to be translated in some appropriate measurable
terms known as indicators. The prerequisite for defining the indicators is the availability of
data directly from source or it can be derived from the available data sources . By your past
experiences you may set your indicators. For example if time to check the check list of resources
has taken 10 minutes in past you should have set your indicator to 8-12 minutes. The selected
indicator should appropriately represent the real objective for which the target is set.
Step 3: Setting the benchmarks and the End-ine
to be achieved within feasible timelines, we need to set the baseline determines where we are?,
and setting the endline will determine where we want to go.

targets should not be set very high such that they are unrealistic and, thus, become meaningless.
Step 4: Developing an action plan for achieving the targets
Once the priority area for performance improvement has been identified and the endline target
level of performance improvement measured through a suitable indicator has been set, the next
step is to decide on what needs to be done in order to achieve that target, by what timeline, by
whom and with what resources. Action plans consist of the following elements:

The outputs or result areas

Activities that have to be followed to reach this objective
Time schedule for when each step must take place and how long it is likely to take

A clarification of who will be responsible for making sure that each step is successfully

A clarification of the inputs/resources that are needed

Step 5: Monitoring the progress

The process of target setting is not complete until and unless the monitoring schedule is clearly
laid down. Progress monitoring includes monitoring the implementation of action plan as well as
changes in the performance indicator in comparison with the baseline and the endline target.

How to out compete rivals

To Compete out the rivals we must follow the strategy to focus on our strengthens and weakness
both. Need to offer services which are less time consuming and high quality based competing the
rivals and appealing to a broad spectrum of customersvals this strategy give customers more
value for their money by incorporating good-to-excellent product attributes at a lower cost than
rivals; the target is to have the lowest (best) costs and prices compared to rivals offering products
with comparable attributes.


How to achieve sustainable competitive advantage

To achieve sustainable competitive advantage must focus on developing products, services,

processes, or capabilities that give a company a superior business position relative to its
competitors and other competitive forces. Becoming a low-cost producer of products and
services and finding ways to help suppliers and customers reduce their costs.
To Develop differentiation development of unique products and services and try to seek entry
into unique markets or market niches this make radical changes to the business processes for
producing or distributing products and services that are so different from the way a business has
been conducted that they alter the fundamental structure of an industry

How to strengthen enterprises long term business positions

To strengthen enterprises long term business positions it is important to evaluate whether you
want to consolidate your business position or find ways to grow. If you decide that your priority
is growth then you need to plan carefully if you are to succeed. Growth has its risks, but the right
strategy can deliver stability, security and long-term profits. We need to look at the pros and cons
of diversifying and what other considerations you must think of to ensure development is
smooth, on time and on target.
Building better teams, developing future leaders, and strengthening business partnerships can
position you and your company for long term success. In a constantly changing business
environment the companies that embrace change and use it to strengthen their market position
will come out ahead.
Few elements need to be calculated for..

The importance of business growth

Consolidate your existing performance
What are the options to grow
Assess which growth option best suits your business
Financing your growth strategy