View from the Chamber – week 26

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Performance in business terms can mean many different things, including the actions of the business to complete actions, the ability of an organisation to implement optimal plans, achieving targets, and so on. Performance is critical to ensure individuals and businesses can be successful, learn, grow, develop and optimise.

For many businesses, they are nearing the end of their first quarter and will likely be reviewing performance, running reports and checking performance metrics versus key performance indicators to measure effectiveness, and identify areas of improvement or opportunities for change.

When you consider performance, what are you thinking? Do you run a business or form part of a team with an organisation? In either case, think about the way performance is defined, measured and reported to bring the potential for continued positive improvement. One way to do this is by implementing ‘The Golden Thread’ principle that helps you to align business goals to measures of success.

The ‘thread’ is the link between vision, analysis, systems and people which then provide a shared understanding of how the vision, goals and values of the organisation relate to daily tasks. This alignment provides a shared understanding, transparency around goals and objectives which in turn fosters collaboration, openness and mindfulness.

Thinking of it like a shared problem, which, in theory, is much easier to accomplish when more people are working on it. This is very useful to an organisation as it enables clear communication and understanding of metrics, making you personally, as well as the wider team accountable for success pulling together and in the same direction.

This golden thread is a continuous cycle of defining the mission, defining the plan, objectives, feedback and review of performance to keep the team and business moving in an aligned direction. Try it in your business and see how you get on.

Want to find out more about how Lochaber Chamber of Commerce supports local
businesses to be successful and develop? Get in touch with our team today by emailing
membership@lochaberchamber.co.uk for more information.