Solutions
Management by Exchange (MBX™) is founded on performance management enhanced by exchange science.
Our approach to performance management includes discovery, planning, and implementation processes by which strategy is translated into achieved KPIs. KPIs are a strategy neutral approach to manage goals (e.g., SMART: Specific, Measurable, Achievable, Relevant, and Timely). Conventional KPIs (such as actual sales compared to forecasted, or actual output compared to production capacity) often fall far short of capturing the leading and lag indicators required to achieve the desired strategy.
Exchange science provides a framework to develop and manage the full continuum of indicators necessary to achieve organization specific strategy.
MBX™ Performance Management
Discovery
Discovery represents the development, assessment, and reporting of KPIs. Our discovery phase involves:
- Audit – review of strategy, current KPIs, and activities to achieve KPIs. It is essential to understand your business, strategy, and current approach toward performance management in order to achieve a high-impact performance management solution.
- Model – development of a model of leading and lag indicators. The MBX Chain™ represents a proprietary exchange based approach to model KPIs developed by MBX Group.
- Assessment – quantitative measurement of KPIs.
- Reporting– viewing KPIs for monitoring, analysis, and management.
- Interviews – stakeholder interviews to enhance audit, model, assessment, and reporting.
Planning
The Performance Management Plan maps out the schedule of KPI assessments, and implementation that is inclusive of activities by your organization as well as activities facilitated by MBX Group. The plan is actionable, and allows the full complement of leading and lag indicators to be improved upon.Implementation
We can monitor and advise you on your implementation activities to achieve KPIs. Additionally, we directly facilitate implementation. MBX Group implementation services include:- Simulation – quantitative assessments of key stakeholders (e.g., employees, supervisors, customers) related to key metrics (e.g., customer preferences) are used to create stakeholder prototypes. Prototypes are compared to participant perceptions (e.g., sales associates) to assess gaps. Action plans are created to address the gaps.
- Training – Training to improve performance; emphasis is upon exchange training and performance management. For example, we educate sales associates about exchange science, providing them with the knowledge and techniques to attract and retain clients, and grow their business.
- Exercise – Custom exercises designed to improve exchange relationships and achieve KPIs.
- Tools – Processes, templates, and best practices to assist employees and the organization in achieving KPIs.