Performance Prism
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The Performance Prism
The Performance Prism is a second-generation performance measurement and management framework that is innovative in its approach. Its advantages over other frameworks are that it addresses all of an organisation's stakeholders - principally investors, customers & intermediaries, employees, suppliers, regulators and communities. It does this in two ways: by considering what the wants and needs of those stakeholders are and, uniquely, what the organisation wants and needs from its stakeholders. In this way, the reciprocal relationship with each stakeholder is examined. The Performance Prism then addresses the strategies, processes and - importantly - the capabilities that are needed in order to satisfy these two critical sets of wants and needs.
The Performance Prism is one of the latest approaches towards organisational performance measurement and management. It was developed by Professor Andy Neely (The Centre for Business Performance at Cranfield School of Management) and Chris Adams (Accenture).
Numerous performance measurement frameworks such as the Balanced Scorecard and the Business Excellence Model have been developed and promoted in recent years. Interestingly each of them appears to offer a different perspective on performance and it is not always obvious how one framework maps onto another. The Performance Prism has been developed in light of this and it seeks to integrate the best from each of the existing measurement frameworks...