Monitoring and Adjustment
Monitoring and Adjustment underpins and flows through every step of the Core Business Process. At every step of the process you should ask yourself:
- How do I know if the strategy, tactical plan, or execution is being effective?
- What could I do to improve them?
The answers to these questions may require you to cycle back to an earlier step in the core process, for example if a customer survey suggests that your marketing strategy is not proving effective, then it should be changed.
Some examples of an effective monitoring and adjustment process:
- Strategic or tactical plans are updated when the external or internal business context changes.
- Metrics and targets are adjusted if giving rise to undesired behaviour.
- Customer feedback is collected and used to improve value delivery.
- Employee's competencies and performance are reviewed regularly and action is taken to correct any deficiencies.
- The effectiveness of initiatives are reviewed and the learnings captured so as to improve future initiatives.
This process step relies on good data... about process performance and output.