Strategy and Performance Management at DSM Essay

Strategy and Performance Management at DSM - Essay Example The final KSF is important from the point of view of the merchant players. Low cost and security from sales is essential for them (Cai, et al, 2009). The KSFs can be linked with each other, if some of the steps of performance management are implemented within the system of DSM. The process of performance management consists of five steps. The steps consists of planning, developing, monitoring, rating and finally development planning. Among the various steps, planning, developing and rating is important from the perspective of DSM. This is because, all the selected steps are essential to enhance the KSFs and helps in ensuring integration within the factors (Armstrong & Baron, 2000). The suggested process consists of planning, developing and rating. Analyzing the processes would justify the rationale behind the suggestions. The three suggested steps are also linked with each other. The adoption of these steps within the system would help DSM to amalgamate the KSFs effectively. Planning is essential in an organization as it is the main factor that helps in properly allocating the resources of a company. Planning ensures that the company capitalizes on the opportunities available to it and the process is done in a cost effective way. Proper planning helps to meet the requirements of the customers. The demands of the customers can be fulfilled if proper production plans are designed. Efficient distribution of sales will be ensured if planning is done in the process of identifying potential target customers (Cai, et al, 2009). The second step involves activities that are related to efficient development of ideas and techniques. This step is connected to the first st ep. If proper planning is not done, the development process will also not be productive. Development is also an integral step in the process of performance management. Innovative techniques of production have to be developed in order to gain comparative advantage in the