This PPT slide, part of the 43-slide World Class Planning & Performance Management PowerPoint presentation, outlines the BP Amoco Performance Management System, emphasizing its role in enhancing the implementation of a federal business unit model. The central theme is the performance management framework, which is depicted as essential for achieving group targets. The slide is structured into several key elements, each accompanied by a description that clarifies its significance.
The first element highlights the importance of externally based and communicated group targets. It states that the group's objectives are aligned with a seven-year strategic plan, which is designed to exceed financial community expectations. This approach ensures that commitments for future performance are clearly articulated, fostering transparency and accountability.
The second element focuses on clear accountability for business unit (BU) leaders. It notes the removal of intermediate management layers, which streamlines decision-making. The BU head is held directly responsible for performance contracts, reinforcing the notion that accountability is paramount—"a promise is a promise."
The third element introduces a formal mutual challenge and assistance process. This involves peer groups of similar BUs meeting regularly to share insights and support one another in achieving performance targets. The introduction of stretched targets encourages a culture of challenge and continuous improvement.
Finally, the slide discusses how performance is linked to promotion and compensation. It specifies that the compensation for the top 350 managers is directly tied to total shareholder returns, indicating a strong alignment between individual performance and organizational success. This connection is crucial, as it underscores the consequences for managers who fail to meet their performance contracts, suggesting a high-stakes environment that prioritizes results.
This slide is part of the World Class Planning & Performance Management PowerPoint presentation.
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