Performance Prism

what is the performance prism well generally the performance prism is a Performance Management tool very similar to the balance scorecard the balance scorecard seeks to identify the Mission Vision Values and strategy of a firm and to Interlink those collectively in a quantifiable way with the goals and objectives of the firm the performance prism does the same thing the unique aspect about the performance prism rather than simply focusing on the internal organizational and competitive strategies of the firm it focuses externally first on stakeholders and these are all stakeholders not just your shareholders but your employees your

third party service providers anyone that has some vested interest in the success of the company if you look there first and identify the stakeholder interest you're better able once again to connect those key elements of the company such as strategies processes and capabilities with customer satisfaction and the extent to which uh stakeholders are contributing once again to the development of the overall mission vision goals and objectives of the company because you're taking all of these stakeholder interests into account so in summary the performance prism is very similar to the balance scorecard it assigns quantifiable metrics

to these various processes within the organization and the and it evaluates the extent to which these processes accomplish the objectives and goals of the firm but with a view towards stakeholder satisfaction and stakeholder contribution to this overall effort and it's in using this tool as part of a planning process it allows once again management to link these strategies to these key elements and consider this when develop developing strategy processes and plans of carrying out objectives or activities