Definition

Provides a detailed blueprint for turning a company's vision into reality breaking down the things an entity needs to achieve as a business into real, measurable actions, it's A methodology for measuring, monitoring and improving performance that helps achieve overall organizational goals

Detailed Explanation

Provides a detailed blueprint for turning a company's vision into reality by breaking down what an entity needs to achieve into real, measurable actions. It is a methodology for measuring, monitoring and improving performance that helps achieve overall organizational goals.

Common Uses

- Used in planning, organizing, and controlling business operations.
- Used when setting KPIs, policies, procedures, and improving processes.

Practical Example

- Example: Management applies **Strategic performance management** when designing policies and monitoring performance against targets.

Why This Term Matters

- Why it matters: Improves execution, accountability, and decision speed while reducing operational waste.