Manage for Performance

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Award-winning Software Integrates Performance Management and Strategy

An organization's strategic plan must give high priority to its performance management system because employees are the ones actually implementing the tactics necessary to achieve corporate objectives.

M3 Planning, a nationwide leader in on-demand strategic planning tools and performance management software, today announced the inclusion of two new performance management reports to the company's award-winning software, MyStrategicPlan. The Road Map and Scorecard reports provide a summary or big picture of goals broken out by year and an overview of an organization's goals, measurements and targets with tracking fields for both year-to-date and monthly progress, respectively. Together with the Employee Performance Review that was launched in May, the total number of professional reports now included with the software is an impressive eleven.

According to Erica Olsen, founder of M3 Planning and co-developer of MyStrategicPlan, "An organization's strategic plan must give high priority to its performance management system because employees are the ones actually implementing the tactics necessary to achieve corporate objectives." She acknowledges that many organizations struggle with performance management because their system consists of little more than a form managers use to conduct annual employee evaluations. Olsen says this doesn't work because performance management needs to be an ongoing conversation between supervisors and employees that supports the accomplishment of strategic objectives. Rather than only considering the process once a year, she advises managers to have a system in place that sets clear objectives, evaluates results and delivers continual feedback to employees about their performance on a regular basis. MyStrategicPlan was developed to meet the growing demand for this integration of performance management and strategy. The online strategic planning system and business tool ties many business systems and processes together and enables organizations to stay on top of them without a huge enterprise system or cost.

Executives can rely on the performance management software of MyStrategicPlan to guide them in crafting a balanced corporate strategy as well as managing performance management on a regular basis. Because it is based on the Balanced Scorecard and Strategy Map, a strategic performance management methodology that translates strategy into action throughout every level of an organization, MyStrategicPlan enables any organization, regardless of size and budget, to build a comprehensive plan in a matter of weeks (or even days) and monitor implementation all year long.

MyStrategicPlan was named a Finalist in the Best New Product or Service - Computer Software category in The 2008 American Business Awards earlier this summer and also presented with the 2008 award for Best Application Service Provider Interactive Application by the Web Marketing Association's annual Internet Advertising Competition. That was the second consecutive win for the top honors in the annual Internet Advertising Competition after being a previous Standard of Excellence award winner.

M3 Planning has established itself as a source for everything related to strategic planning. In addition to their online strategic planning system, the company is also a resource for other strategic planning tools, books, articles, workshops, and facilitations. Through M3 Planning's online client base and onsite strategic planning facilitation work, Erica Olsen has developed and reviewed hundreds of strategic plans for organizations across the country. She has also authored several strategic planning books including Strategic Planning for Dummies and was named Entrepreneur of the Year by The Business Report of Northern Nevada in 2007.

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Matthew Kennard
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