2099 re˛ ect/media/Corporate/Reflect... · these challenges on top of their daily tasks. The theme...

DOSSIER

Performance Management

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Vlerick Leuven GentManagement School Magazinere� ect

www.vlerick.com

BELGIË - BELGIQUE

P.B. - PP

2099Antwerpen X

B 09

WHAT IS THE KEY TO SUSTAINABLE PERFORMANCE?

DOES PAY DRIVE PERFORMANCE?

Check out www.vlerick.com/reflect for podcast & more articles

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CONTENTS

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This magazine is printed on FSC-certi� ed paper using vegetable-based ink.

DOSSIER PERFORMANCE MANAGEMENT

Vlerick re� ect – February 2012, n° 13Quarterly magazine of Vlerick Leuven Gent Management School

EditorHilde Van LysebethVlerick Leuven Gent Management SchoolStichting van Openbaar NutReep 1, 9000 GentTel. +32 9 210 97 11, fax +32 9 210 97 00re� [email protected] - www.vlerick.com

Editorial CoordinatorPatricia Rousseau

Editorial BoardHilde Van Lysebeth, Patricia Rousseau, & Sabine Rosseel

ContributorsMoira Bluer, Saskia Broeckx, Leo Cendrowicz, Courtney Davis, Tori Kelly, Sabine Rosseel & William Wright.

Publishing Decom nv‘t Hofveld 6C4, 1702 Groot-Bijgaardenwww.decom.be

PhotographyBenny De Grove, Frederik Vercruysse, Jos Verhoogen & Shutterstock.

03 | WORD FROM THE DEAN

04 | RADAR

07 | DOSSIER

25 | INTERNATIONAL NEWS

WHAT IS PERFORMANCE MANAGEMENT?

PERFORMANCE MANAGEMENT ON A CORPORATE LEVELHow the Dutch DSM broke the annual strategy routine.

MAKING STRATEGY EVERYONE’S EVERYDAY BUSINESSEVERYONE’S EVERYDAY BUSINESS

Ask di¡ erent people what performance management is and you will get di¡ erent answers. Today, opinions have converged to some extent but when it comes to the crunch, most companies still struggle to implement leading practices. A well-structured and disciplined process is the backbone of performance management, but that is not where the pitfalls and challenges lie.

I’ve found that a balanced score card printed on a placemat helps people digest the message over lunch, as it were.”[Carel Boers]

2 | FEBRUARY 2012 | VLERICK re� ect

Would you like to receive this magazine by e-mail, the environmentally friendly option?Would you like to update your contact details?Go to www.vlerickalumni.com/mypreferences

F

F

07

14

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w

WORD FROM THE DEAN

27 | SCHOOL UPDATE

29 | PROGRAMMES

30 | ALUMNI NEWS

”Performance management has to be strategy-driven if you

want to create sustainable value and not merely achieve short-term

financial results.”

Philippe HaspeslaghDean, Vlerick Leuven Gent Management School

Dear reader,First of all, we wish you all a happy 2012 per-sonally. Business-wise, of course, 2011 ended on a real slowdown, and the outlook for the coming Year of the Dragon remains di� cult to predict. Europe seems caught in a bind between balancing budgets and preserving growth. This is a false dichotomy, however. Government budgets unfortunately do not distinguish between operating expenses and strategic investments. Nor do politicians seem to understand the fallacy of preferring budget cuts to structural reforms.Your School is also bracing for tough times ahead, as companies are once again facing cost containment. Our response is to be vigi-lant in managing our operating expenses, stay the course in strategic investments, and undertake structural reform of our organisation and programmes. Preparation of the Brussels campus for 2013 is moving along, as is work on our new website and on our rebranding, both due to be launched in September at the start of the next academic year. More importantly, we are reviewing our organisation and products so that we truly can “live the future brand inside the School”. I want to salute the 200 members of Vlerick personnel and faculty who are taking on these challenges on top of their daily tasks.The theme of this Vlerick re� ect is perform-ance management. The Vlerick platform for performance management has brought to-gether faculty and researchers from strategy, � nance & control, human resources and IT to align and coordinate their complementary perspectives on the subject, the results of which you will soon be able to read in a forthcoming book entitled Managing for Performance Excellence.Performance management has to be strate-gy-driven if you want to create sustainable value and not merely achieve short-term � nancial results. It has to be an integrated process that starts by generating superior strategies through e� ective corporate- and business-level dialogues. It continues by de-� ning strategic KPIs to monitor strategy ex-ecution, and � nancial value drivers to moni-tor � nancial performance. Together these

can form the basis of what might be called “a performance contract” between corporate and the business team. Such a contract is the symbol of both the team’s accountability for the results and senior management’s com-mitment to giving the team the resources it needs to gradually implement its strategy. Ultimately, the key becomes the translation of this into engagement of the employees, what we at Vlerick call people performance, an engagement that may or may not be directly linked to rewards. This kind of performance management as a system is of course highly depend-ent on appropriate IT and Business Intelligence. If it is done strategically and consistently, the outcome is sustainable value for the stakeholders.This Vlerick re� ect will give you a feel for the resources, tools and perspectives that are important at Vlerick in every single step of this process, and how we are helping partner organisations generate better performance or benchmark themselves against others.You will also � nd other news about the School, including one item I want to high-light: the retirement of Professor Roland Vandierdonck, my predecessor as Dean, whom we honoured as the � rst Vlerick Emer-itus Professor. We already thanked Roland when he retired as Dean, but his retirement as Professor reminded us all of his great, internationally recognised contributions in manufacturing strategy, technology man-agement and service management, which to this day have helped to put the School on the international map in these areas. On behalf of the entire Vlerick community, I wish him well.

PERFORMANCE MANAGEMENT & IT

PAY FOR PERFORMANCETo what extent does pay drive performance? But there is more to motivating people than paying them money. How

can you make them go the extra mile to realise

your organisation’s objectives?

What should you bear in mind if you want automated and integrated information-driven performance management to be a success?

VLERICK re� ect | FEBRUARY 2012 | 3

16

18

For the latest Vlerick research insights go to: http://knowledge.vlerick.com


MANAGEMENT SECRETS OF BA PROJECTS UNVEILED

A special breedAs business environments become more complex and competitive, managers need to be able to detect and, preferably, predict trends and respond to them quickly. Companies are giving business analytics (BA) increasingly high priority in the hope of gaining an edge on their competitors. Yet BA projects are often characterised by uncertain or changing re-quirements and a high implementation risk, so it takes a special breed of project manager to execute and deliver them. In a study aimed at identifying what characterises experienced, skilful project managers involved in BA projects, Professor Stijn Viaene and researcher Annabel Van den Bunder found that the most important qualities of skilled BA managers can be categorised into � ve areas:

The full study report can be found at http://sloanreview.mit.edu/x/.

Prof. Stijn Viaene

+

[email protected]

1 Focusing on project execution and value deliv-

ery rather than on strict adherence to the plan.

2 Seeing value in use and value of learning.

3 Enabling a process of engaging stakeholders,

explaining and managing expectations.

4 Relying on intelligent experimentation, with

suf� cient scienti� c rigour in each step, and

not losing focus on practical relevance and

usability.

5 Promoting smart use of information techno-

logy. Projects conducted as partnerships yield

better results.


RADAR

Showcasing FCAVlerick Leuven Gent Management School will be co-organising the 10th International Conference on Formal Concept Analysis (ICFCA). The event will be held from 6 to 10 May 2012 in Leuven and aims to bring together researchers and practitioners working on theoretical and applied aspects of Formal Concept Analysis (FCA). FCA emerged in the 1980s and has developed into a research � eld with a rapidly expanding range of applications in information and knowledge processing, including visuali-sation, data analysis (mining) and knowledge management. “Analytics are extremely hot in business,” explains Professor Stijn Viaene, who sits on the ICFCA Organising Committee. “FCA is a technique that enables us to extract business patterns from large quantities of unstructured data. We’ve already applied FCA successfully in a number of cases within the Amsterdam-Amstelland police force with the help of colleagues at K.U.Leuven. We studied how the police could improve the way they classify certain cases as domestic or non-domestic violence, which included detecting any incorrect clas-si� cations made by individual police of� cers. Two PhDs have been produced in the last couple of years focusing on the applications of FCA in a business context. There’s still a lot of work to do to turn it into a truly versatile technique for practitioner self-service, but we’re working hard on this within the research community.”

www.econ.kuleuven.be/ICFCA

q READ MOREIn the book “Managing for Performance Excellence”, Professor Stijn Viaene and Luc Lutin discuss the critical success factors and lessons learned from the Amsterdam-Amstelland police force case study. More information in the article on p. 18 of this issue.

Top salaries lower in BelgiumCompared with those in neighbouring countries, top salaries in Belgium are lower and less variable, with a CEO’s earnings totalling less than half of what a counterpart in the UK can earn. Although Belgium is more or less on a par with its neigh-bours in terms of � xed remuneration, the difference can be considerable when it comes to variable remuneration. These are the � ndings of a European survey of top salaries in listed companies, carried out by Vlerick’s Executive Remuneration Research Centre. The UK leads the way in variable remunera-tion, mainly because British companies are more prone to implement a share-related reward scheme linked to perform-ance criteria. In fact, some 90% of UK � rms grant shares to their CEOs, compared with almost 70% of companies in the Netherlands and only half of the larger quoted companies in Belgium and France.

Xavier Baeten

+

[email protected]

The full fi ndings of the survey can be found through http://knowledge.vlerick.com

For the latest Vlerick research insights go to: http://knowledge.vlerick.comFor the latest Vlerick research insights go to: http://knowledge.vlerick.com


RADAR

What is your enterprising potential?

Those who seek to hire, develop or invest in entrepreneurial types want to be able to identify potential reliably. Research by Eva Cools and Professor Herman Van den Broeck has shed light on the matter. What characteristics and cognitive styles distinguish Flemish entrepreneurs from their less enterpris-ing peers? Their � ndings suggest � ve personality traits of a budding entrepreneur:

1. a tolerance for ambiguity; 2. self-ef� cacy; 3. proactivity; 4. ownership and control; and5. a need to achieve.

They also found that entrepreneurs typically have a creative cognitive style that makes them unafraid of generating and experimenting with imaginative, often impulsively conceived ideas. However, the same style and the same personality traits can also be found in the non-entrepreneurial workforce. It is in fact the way in which the cognitive style is combined with the personality traits that determines the level of entrepreneurship.

Curious to fi nd out how entrepreneurship can be introduced and developed to optimise your company’s performance? The report of the study can be found at http://knowledge.vlerick.com.

Herman Van den Broeck + [email protected]

Eva Cools + [email protected]

SUPPLY CHAIN MANAGEMENT

The power of partnershipWhat makes strategic alliances in the supply chain successful? What is the impact of trust and commitment? And how are the alliances managed? These are the questions Evelyne Vanpoucke and Ann Vereecke tackled in their research paper “The Predictive Value of Behavioural Characteristics on the Success of Strategic Alliances”. The results provide valuable insight into ways in which supply chain managers can structure their partnerships to increase margins in complex markets. The study stresses the value of collaboration between � rms as a resource in itself. In fact, interdependence, trust, commitment and coor-dination (the main attributes of an alliance) emerged as the key factors in determining success. The conclusion is therefore that building trust and coordinating activities are the cornerstones of a successful chain alliance. Managers need to ensure that their employees understand that an alliance arrangement offers their company signi� cant bene� ts.

Want to fi nd out which elements of an alliance need most attention? And which practices are most likely to improve performance, depending on your priorities?

The full paper can be found at http://knowledge.vlerick.com.

Prof. Ann Vereecke+ [email protected]

Evelyne Vanpoucke+ [email protected]


DOSSIER07 | WHAT IS PERFORMANCE MANAGEMENT?

F

11 | THE PM PROCESS

F

Download this dossier as a podcast atwww.vlerick.com/refl ect

PERFORMANCE MANAGEMENT

Plus est en vous

Ask different people what performance management is and you will get different answers. Dewettinck recalls how a few years ago they invited HR managers and � nancial controllers to a round table on performance management. “The discussion quickly turned into a full-blown argument, with each party holding to their views.” Today, opinions have converged to some extent but when it comes to the crunch, most companies still struggle to implement leading practices.


07 | WHAT IS PERFORMANCE MANAGEMENT?

F

11 | THE PM PROCESS

F

14 | PM AND STRATEGY

F

16 | PM AND HR

F

18 | PM AND IT

F

PERFORMANCE MANAGEMENT?

Performance management (PM)

is an initiative taken at corporate level

(there’s not enough involvement at a

lower level)

Performance management is sim-

ply a matter of measuring and reporting

(not suf� ciently taking into account the

human factor)

Performance management is

too time-consuming


is not worth the investment


seldom results in profound changes

Werner BruggemanPartner at B&M Consulting, Full Professor in Management Accounting & Control in the Economics & Business Faculty of Ghent University, Associate Professor at Vlerick

In stable environments, the CEO could simply “im-

pose” strategy. The situation today is more complex,

but managers haven’t cottoned on to this. A great

many businesses have a strategy at the top and

improvement processes at the base, but among

middle management sheer confusion reigns. Why?

Because there is no organised cascade system in

which middle management participates.

Measurement systems can only be tools that help

people to make progress – which should be the � rst

step. Many lose motivation because of the top-down

implementation of measurement systems. You can

avoid this by involving people from di� erent levels in

the strategic process and the creation of the meas-

urement system. PM is an integrated approach; a lot

more psychology knowledge needs to be linked in

with the use of measurement tools.

A balance needs to be struck between manage-

ment and operational work. PM therefore needs

to be organised e� ciently, through a structured

process: quarterly meetings and performance re-

view meetings should ideally proceed according

to a set pattern, and strategy maps and score-

cards should be presented intelligibly and always

have the same structure.

On the basis of case studies, we’ve seen that

performance is significantly better in strategy-

focused organisations than in non-strategy-fo-

cused organisations. Also, performance is a mul-

tivariable concept, and includes organisational

performance, employee satisfaction and so on.

You mustn’t limit it to financial performance.

If PM is reduced to using scorecards, the result is

merely frustration. People don’t want to be changed

by scorecards; they want to change of their own

free will. Involving people at di� erent levels in the

creation of strategy, KPIs and scorecards has a mo-

tivational e� ect: they get listened to, feel like a team

and work towards the desired result. Approached

like this, PM does result in change.

David DucheyneGeneral Manager People Services & Individuals at Securex

PM should start from a top-down de� nition of vi-

sion and goals, but must leave su� cient room for

a bottom-up approach. You need to leave it to the

people who have the expertise to decide how they’ll

meet those goals, and this is something that still

doesn’t happen often enough.

One serious shortcoming in many PM systems is the

SMART dogma1. Not everything that is important is

SMART. Motivation, commitment, involvement, etc.

are less measurable, but just as important. If a com-

pany only did things that are SMART, it would fail.

That’s true enough if all you consider is how long

it takes to � ll in forms. If I ask managers whether

it really takes too much time to talk to their sta�

a few times a year about what is and isn’t go-

ing well, the answer is invariably “no”. But that’s

all that PM is. And if you incorporate it into your

day-to-day management, it isn’t time-consum-

ing at all. You do it with the frequency needed to

achieve your goals.

My intuition tells me that PM is necessary, but I can’t

prove its e� ect. My advice to anyone wishing to set

up a system is: � rst create the context and keep

your system as light as possible. Allow it to grow

over time. Start simple. Automated systems soon

become in� exible. It may then become di� cult to

make the system cost-e� ective.

People quickly adapt their behaviour to a system,

even if it means performing below par. De� ning

objectives too mechanistically or too individualisti-

cally, linking them to variable remuneration and so

on can lead to undesirable behaviour. In my view,

PM systems are therefore not without risk, and of-

ten you don’t get the changes you wanted.

Hans MattheeuwsCFO at INEOS ChlorVinyls LVM

PM isn’t an initiative: it’s a way of life, a business’s

culture and philosophy. It often goes wrong because

it’s regarded as a project carried out by IT or Finance,

and completely fails to get through to the lower lev-

els. PM is about nothing less than de� ning a strategy

and ensuring that it’s implemented. And that’s eve-

ryone’s responsibility, from management all the way

through to workers on the shop � oor.

If you focus a thousand torches on the same point,

instead of a thousand lights shining in all directions,

you get a single ray that’s combined and powerful.

And that’s what it’s all about. You need the right busi-

ness culture and a strategy that’s cascaded down-

wards, in such a way that everyone understands

what it means in concrete terms for his or her opera-

tional task.

It’s as though you were to stop reading the safety

instructions in a chemical plant in order to save

time, incurring the risk of an accident as a re-

sult. Of course, you should design the process

e� ciently. But “too time-consuming” is a cheap

excuse for not doing something crucial.

The return is hard to quantify. Nobody would argue

that good forecasting that provides insight into the

implementation of your strategy, future returns or

expected cash � ows is not cost-e� ective. Accurate

information is worth a great deal, especially in the

current crisis climate.

If PM is regarded as a project, it may simply die a

death. If it’s a way of life, something that becomes

embedded in the business, it will be accompanied

by profound changes and improvements. When

that happens, PM is the carrier of your strategy and

of the change process.

STR

AT

EG

YFI

NA

NC

EH

R

1 SMART: speci� c, measurable, attainable, relevant, time-bound


DOSSIERDownload this dossier as a podcast atwww.vlerick.com/refl ect

20 | TOOLS & TRAINING

F

23 | STUDENT PROJECT

F


is an initiative taken at corporate level

(there’s not enough involvement at a

lower level)

Performance management is sim-

ply a matter of measuring and reporting

(not suf� ciently taking into account the

human factor)

Performance management is

too time-consuming


is not worth the investment


seldom results in profound changes

Werner BruggemanPartner at B&M Consulting, Full Professor in Management Accounting & Control in the Economics & Business Faculty of Ghent University, Associate Professor at Vlerick

In stable environments, the CEO could simply “im-

pose” strategy. The situation today is more complex,

but managers haven’t cottoned on to this. A great

many businesses have a strategy at the top and

improvement processes at the base, but among

middle management sheer confusion reigns. Why?

Because there is no organised cascade system in

which middle management participates.

Measurement systems can only be tools that help

people to make progress – which should be the � rst

step. Many lose motivation because of the top-down

implementation of measurement systems. You can

avoid this by involving people from di� erent levels in

the strategic process and the creation of the meas-

urement system. PM is an integrated approach; a lot

more psychology knowledge needs to be linked in

with the use of measurement tools.

A balance needs to be struck between manage-

ment and operational work. PM therefore needs

to be organised e� ciently, through a structured

process: quarterly meetings and performance re-

view meetings should ideally proceed according

to a set pattern, and strategy maps and score-

cards should be presented intelligibly and always

have the same structure.

On the basis of case studies, we’ve seen that

performance is significantly better in strategy-

focused organisations than in non-strategy-fo-

cused organisations. Also, performance is a mul-

tivariable concept, and includes organisational

performance, employee satisfaction and so on.

You mustn’t limit it to financial performance.

If PM is reduced to using scorecards, the result is

merely frustration. People don’t want to be changed

by scorecards; they want to change of their own

free will. Involving people at di� erent levels in the

creation of strategy, KPIs and scorecards has a mo-

tivational e� ect: they get listened to, feel like a team

and work towards the desired result. Approached

like this, PM does result in change.

David DucheyneGeneral Manager People Services & Individuals at Securex

PM should start from a top-down de� nition of vi-

sion and goals, but must leave su� cient room for

a bottom-up approach. You need to leave it to the

people who have the expertise to decide how they’ll

meet those goals, and this is something that still

doesn’t happen often enough.

One serious shortcoming in many PM systems is the

SMART dogma1. Not everything that is important is

SMART. Motivation, commitment, involvement, etc.

are less measurable, but just as important. If a com-

pany only did things that are SMART, it would fail.

That’s true enough if all you consider is how long

it takes to � ll in forms. If I ask managers whether

it really takes too much time to talk to their sta�

a few times a year about what is and isn’t go-

ing well, the answer is invariably “no”. But that’s

all that PM is. And if you incorporate it into your

day-to-day management, it isn’t time-consum-

ing at all. You do it with the frequency needed to

achieve your goals.

My intuition tells me that PM is necessary, but I can’t

prove its e� ect. My advice to anyone wishing to set

up a system is: � rst create the context and keep

your system as light as possible. Allow it to grow

over time. Start simple. Automated systems soon

become in� exible. It may then become di� cult to

make the system cost-e� ective.

People quickly adapt their behaviour to a system,

even if it means performing below par. De� ning

objectives too mechanistically or too individualisti-

cally, linking them to variable remuneration and so

on can lead to undesirable behaviour. In my view,

PM systems are therefore not without risk, and of-

ten you don’t get the changes you wanted.

Hans MattheeuwsCFO at INEOS ChlorVinyls LVM

PM isn’t an initiative: it’s a way of life, a business’s

culture and philosophy. It often goes wrong because

it’s regarded as a project carried out by IT or Finance,

and completely fails to get through to the lower lev-

els. PM is about nothing less than de� ning a strategy

and ensuring that it’s implemented. And that’s eve-

ryone’s responsibility, from management all the way

through to workers on the shop � oor.

If you focus a thousand torches on the same point,

instead of a thousand lights shining in all directions,

you get a single ray that’s combined and powerful.

And that’s what it’s all about. You need the right busi-

ness culture and a strategy that’s cascaded down-

wards, in such a way that everyone understands

what it means in concrete terms for his or her opera-

tional task.

It’s as though you were to stop reading the safety

instructions in a chemical plant in order to save

time, incurring the risk of an accident as a re-

sult. Of course, you should design the process

e� ciently. But “too time-consuming” is a cheap

excuse for not doing something crucial.

The return is hard to quantify. Nobody would argue

that good forecasting that provides insight into the

implementation of your strategy, future returns or

expected cash � ows is not cost-e� ective. Accurate

information is worth a great deal, especially in the

current crisis climate.

If PM is regarded as a project, it may simply die a

death. If it’s a way of life, something that becomes

embedded in the business, it will be accompanied

by profound changes and improvements. When

that happens, PM is the carrier of your strategy and

of the change process.

Performance management : What is it?Performance management is a strategic and integrated approach to delivering sustained organisational performance. “It ensures that the organisation takes the right actions to execute its strategy and create value,” says Professor Regine Slagmulder. A well-structured and disciplined process is the backbone of performance management (see p.11), but that is not where the pitfalls and challenges lie. Together with professors Koen Dewettinck and Kurt Verweire, she argues that these are to be found in an enabling organisational context.

Read on next page.


More often than not, HR develops evaluation systems, for example, without input from the line managers who are supposed to use them”[Koen Dewettinck, Associate Professor at Vlerick]


F

11 | THE PM PROCESS

F


F

16 | PM AND HR

F

18 | PM AND IT

F

Prof. Koen Dewettinck+32 9 210 97 [email protected]

evaluation systems, for example, without input from the line managers who are supposed to use them”[Koen Dewettinck, Associate Professor at Vlerick]

Prof. Kurt Verweire+32 9 210 97 [email protected]

Do you have a strategy?Verweire: “To be effective, perform-ance management should be driven by a clear and concrete strategy. Group strategies and business strategies are often so vague as to be meaningless. Companies say they want to grow and be customer-focused, but what com-pany doesn’t? There are many ways to achieve growth and unless your sales team and your operations department agree on how to grow, organisations will struggle implementing strategy.”

Dewettinck: “Strategic objectives are one thing but the challenge is to actu-ally translate strategy into something meaningful for every employee at every level. And to keep ensuring that all efforts are contributing to the same goal. While it may seem straightfor-ward, in practice this cascading of stra-tegic goals is one of the biggest issues in performance management.”

No one likes to be judgedOne of the barriers to overcome is people’s reluctance about perform-ance measurement. Many perceive measurement of performance, espe-cially their own, to be judgemental.

It is therefore important to establish a climate in which people see it as enabling. Slagmulder: “Metrics are only a means to an end. What matters is the quality of the dialogue they gener-ate as well as the actions they trigger.

People should be keen to learn from these metrics to always do better. The ultimate purpose of performance man-agement is to create accountability and initiate a self-motivating cycle so that people take ownership of problems and creatively look for solutions.”

Are the right people involved?Yet all too often, employees regard performance management as a bu-reaucratic burden imposed by HR or Finance. Dewettinck: “People should feel the process helps them move in the right direction. That’s why it’s important to have a strong sense of shared meaning within your organisa-tion. Involving people in the develop-ment of processes and systems most certainly helps, but doesn’t happen enough. More often than not, HR devel-ops evaluation systems, for example, without input from the line managers who are supposed to use them.”

Verweire agrees: “You’d be surprised at how many managers still use the old-fashioned top-down command and control style of leadership. Good per-formance management highlights the limitations of this management style.” Referring to the model he developed with Vlerick researchers, he adds: “We generally distinguish between four levels of maturity, from entrepreneurial to connected, depending on how a company is managed. I’d say barely 15% of managers have reached matu-rity levels three or four.”

The enemy withinSlagmulder: “Companies still tend to look at performance from a silo per-spective, determining KPIs for speci� c functions and departments in isolation. As a result, the sum of the parts is less than the whole.” Dewettinck puts it this way: “Performance management is a process across functions and at differ-ent levels in an organisation, which is its strength but also its weakness. Unless the various efforts are aligned, they won’t have a reinforcing effect; quite the contrary.”

Verweire points out another issue: “Bonus systems can be detrimental to

Prof. Regine Slagmulder+32 9 210 97 [email protected]

Metrics are only a means to an end”[Regine Slagmulder, Partner and Full Professor of

Accounting & Control at Vlerickl]

Good performance management highlights the limitations of the top-down command and control style of leadership”[Kurt Verweire, Associate Professor at Vlerick]




F


F

Learn how to make it workSetting targets, measuring and monitoring... the performance man-agement process sounds simple, and it actually is. But a streamlined process is not enough! How do you avoid creating merely a reporting bureaucracy? This forthcoming book identi� es four key enablers for a high-performing organisation: strategic focus, an engaging climate, a collaborative organisation structure and a satisfactory information in-frastructure. It combines academic insights with practical application. Real-life case studies, illustrating a combination of challenges, explain where it can go wrong, but also how to make it work. You will learn how to leverage all four enablers and overcome any obstacles so that performance management helps you achieve your goals – and more.

Title: Managing for Performance Excellence – Vlerick on High-Performing OrganisationsAuthors: Regine Slagmulder, Kurt Verweire, Koen Dewettinck et al.Published by: Lannoo CampusISBN: 9789020979268Available: May 2012

performance management helps you achieve your goals – and more.

Managing for Performance Excellence – Vlerick on High-Performing OrganisationsAuthors: Dewettinck et al.Published by: ISBN: 9789020979268Available:

Title: on High-Performing OrganisationsAuthors: Dewettinck et al.Published by: ISBN:Available:

Keen to get your hands on a copy of “Managing for Performance Excellence”? Send an e-mail to [email protected] and she will let you know when it hits the bookstores.

Regine Slagmulder: “Intuitive performance management doesn’t work. You can’t just go about measuring anything and everything in an ad hoc way without a focused set of strategic objectives. You need a bit of discipline to monitor and act on the relevant perform-ance information. And that calls for a systematic process.

“But this process should be running in the background and any supporting systems should be kept as simple as possible to balance costs and bene� ts. What’s more, to be ¢ exible and responsive in today’s dynamic environment, you should avoid a mechanistic approach.”

The backbone

Strategic & � nancial planning

Target setting &cascading

Monitoringexecution

Evaluation &rewards

De� ning KPIsto measure performance

STRATEGIC CONTEXT

PERFORMANCEMANAGEMENT

STAKEHOLDER VALUE

the collaborative culture you’d need to achieve a common strategic objective. If the system is such that it removes every incentive to share information between departments, you’ll end up in a situation where the enemy is within.”

Gibberish or useful information? So far, IT has remained conspicuously absent from the discussion. Does this mean that performance management does not present challenges for IT? Not quite. Slagmulder: “Information systems can largely automate performance measurement and monitoring. The challenge is not to get bogged down in a myriad of data and isolated facts, but to be able to translate all that data into useful information you can learn from. It should support informed decisions that drive your business forward.”

Why bother? Effective performance management is not without bene ts. In fact, past studies have shown that companies with mature performance management solutions systematically outper-form their peers. A recent study also found that intelligent use of performance management tools, such as balanced scorecards, leads to better strategic alignment, which in turn has a positive impact on performance.

Verweire: “It’s a bit of a paradox: good performance manage-ment improves your nancial results by making you focus less on your nancials and more on the enabling factors.”

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Hein Schreuder joined DSM in 1991 as Executive VP Corporate Strategy & Acquisitions. At that time, DSM was still a chemicals company and the early 1990s were dif-ficult times for the industry. Until then DSM had used a traditional strategic planning process that had become a routine periodic numbers exercise.

Why did you decide to change your strategy develop-ment process?Schreuder: “The link with our performance wasn’t clear and it didn’t highlight the strategic issues for our business.“Over the years, DSM had been decentralising its or-ganisation as much as possible. Decentralising strategy development seemed the next logical step.“The new strategy development process we launched was dubbed business strategy dialogue (BSD). We experimented with a few pilot projects and developed a structured, phased approach, starting with a thorough analysis of the business situation and issues. These pilots were a success and the entire Group subsequently em-braced the concept. We therefore abolished calendar-driven strategic planning: these BSDs would be organised only if a business entity felt its strategy needed to be reviewed. BSDs also turned out to be great team-building exercises.”

The success of the BSD also prompted DSM to improve its corporate strategy development process and in 1994 it organised the first corporate strategy dialogue (CSD). Why two separate processes? “Because what’s good for a business entity is not neces-sarily good for DSM as a Group. For example, we divested Curver in 1997, not because we didn’t agree with its busi-ness strategy, which was to scale up and strengthen its re-tail power, but because we felt consumer plastics weren’t a core business for DSM.”

“Just like a BSD, a CSD starts by defining the strategic issues. CSDs take place every three to five years, depend-ing on the scope of the previous one, and take about nine months to complete. The corporate strategy is then im-plemented in the years following the CSD. So far, on each occasion, we’ve managed to achieve most of our strategic goals before the target date.”

The key to sustainable performanceWhat is the key to sustainable performance? Performance management is not only about defining financial targets. It is also, and perhaps even more so, about generating and implementing strategy and ensuring performance delivery. For Professor Philippe Haspeslagh, successful companies strike a balance between building for the long and medium term and delivering in the short term. “DSM is a prime example of how to strike this balance by creating a meaningful process that moves away from routine, engages all parties involved and thus stimulates ownership of strategy and execution.”

Haspeslagh: “What successful companies have in common is that they approach the strategy development process in an extremely structured and disciplined fashion. the Bsd process at dsm being managed by a trained facilitator, for example, is a case in point.”

Haspeslagh: “many companies have a more or less formalised business strategy development process, but very few apply similar discipline to their corporate strategy development. as a result, corporate strategy is often little more than the sum total of the business strategies. dsm is absolutely right to make a clear distinc-tion between corporate and business strategy dialogues. they have a different purpose. Corporate strategy is essentially about shaping the long-term future, making choices about portfolio composition, investment priorities, geographical presence, etc. When develop-ing a business strategy you assess the competitive environment of a specific business entity and your capabilities to compete suc-cessfully. Based on this analysis, you then make choices as to which segment you wish to compete in and determine the resources and steps required to achieve sustainable leadership in that particular segment.”

Haspeslagh: “for strategy development to be effective, it should be issue-driven. dsm for one has understood this well. most time is spent on defining the issues, in the Bsd as well as in the csd.”

hoW dsm Broke the annual strategy routine




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Haspeslagh: “A performance contract brings together two di-mensions that are usually di� cult to combine. On the one hand, it establishes mutual engagement and accountability between the corporate level and the business entities. On the other hand, there’s a time dimension, i.e. it ensures equal attention for both the implementation of the strategy and the delivery of short-term results.”

What has been the impact of these CSDs?“Since 1994, 83% of our portfolio has changed and we have transformed from a chemicals group into an organisation focusing on the clusters ‘life sciences’ and ‘material sci-ences’, which has, greatly reduced the cyclical nature of our business. To ensure new business generation, our 2005 CSD also de� ned what we call emerging business areas, i.e. areas we expect to add to our portfolio in the longer term, say ten years. From a list of thirteen, we chose four to pursue, two of which have become successful in the meantime, i.e. biomedical materials and bio-based products and services. Strategic decisions like these would never result from a BSD.”

And it doesn’t stop with strategy development and implementation. How did you translate strategy into performance management? “From the outset we had our annual strategic reviews every fourth quarter, but it quickly became apparent that this wasn’t enough. That’s why each BSD now results in a strategic value contract (SVC) translating the strategic choices into measurable targets for the next three years. Key success factors, performance indicators and milestones monitor the strategic goals, and � nancial metrics broken down into value drivers are used to evaluate bottom-line results. Each SVC is expressly approved by the Managing Board and is a true performance contract in that the business commits to execut-ing the strategy and delivering the performance, while the Board commits to providing the necessary resources.”

Does this mean that there is no room for out-of-scope investments? Schreuder smiles: “No, only then they have to make their point slightly more convincingly.”

Haspeslagh: “Bringing about change in response to a crisis is one thing; changing in the absence of such a burning platform is a to-tally di� erent matter. And that’s the strength of these CSDs: they approach change proactively rather than reactively. Their impact on DSM’s identity has been huge. That said, I believe it’s important to maintain a rhythm in strategy development in order to stay proactive. And because DSM has built a track record of delivering on its strategy, it has also gained credibility with both internal and external stakeholders.”

q READ MOREThe goal-setting process preceding strategy develop-ment often receives scant attention. Not so at DSM, where it is incorporated into the CSD. In “Managing for Performance Excellence”, Professor Haspeslagh elaborates on this process and provides other examples to illustrate the importance of intelligent strategy development.

Dean Philippe Haspeslagh and Hein Schreuder (DSM)


STRATEGIC FOCUS

Taking strategy out of the boardroom“Canteen placemats are great communication tools. I’ve found that a balanced scorecard (BSC) printed on a placemat helps people digest the message over lunch, if you’ll pardon the pun.” Carel Boers is a former bank director. As a turnaround partner, he has coached many companies through successful organisational changes to achieve better performance. Together with Professor Kurt Verweire and Dr Geert Letens, the latter a change management expert, Research Fellow at Vlerick and lecturer at the Royal Military Academy, he comments on how BSCs can bring strategy to life.

“A BSC is a great tool for people to visualise their role and position in an organisation. The trick is to translate your targets into a language everyone understands so that they all know how they can contribute to those targets,” explains Boers. “De� ning a strategy is relatively easy. It’s implementing it that’s the challenge.”

The Balanced Scorecard

Kaplan and Norton developed the concept of

the balanced scorecard (BSC) in the early 1990s.

It was originally intended as a performance

measurement tool that added non-� nancial

performance measurements to traditional

� nancial metrics to provide a more balanced

view of an organisation’s performance. Kurt

Verweire: “The BSC concept views an organisa-

tion from four perspectives. You then develop,

measure and monitor metrics relative to each of

these perspectives. Over the years, the BSC has

evolved from a control tool to a communication

tool supporting change. Used well, it can help

overcome the barriers to change and secure

commitment to your strategic plan.”

Adapted from Robert S. Kaplan and David P. Norton, “Using the Balanced Scorecard as a Strategic Management System”, Harvard Business Review (January-February 1996).

Verweire smiles: “Mind you, a good many companies have trouble devel-oping a clear and sound strategy. But you’re right in saying that the proof of a strategy is in the implementa-tion. BSCs, and strategy maps1 for that matter, help create a common understanding. They can take strategy out of the boardroom.”

Autonomy within boundariesLetens: “The BSC paints a picture of how the internal and external, and short- and long-term goals of your entire organisation are intercon-nected and, as such, it helps to steer performance in the desired direction. It allows you to define areas of autonomy, but within boundaries. This balance between autonomy and shared direction is a key factor for successful implemen-tation of BSCs. Another challenge lies in the use of the BSC: if you employ it as a simple control tool, you won’t secure support and com-mitment from your organisation.”

Kurt Verweire, Geert Letens and Carel Boers


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DOSSIER

Prof. Kurt Verweire+ [email protected]

1 A strategy map is a visual representation of the strategy of an organisation. It il-lustrates how the organisation plans to achieve its mission and vision by means of a linked chain of continuous improvements. It also illustrates the cause-and-effect relationships between different strategic objectives and their measures, or key performance indicators (KPIs) that are included in a balanced scorecard.

How to make change happenKurt Verweire warns that balanced scorecards alone are no guarantee of success. “Introducing BSCs in particular, and per-formance management in general, involves change. Studies

indicate that 70% of all change initiatives fail.” In “Managing for Performance Excellence”, the case study of the German Cooperative Bank Berlin illustrates the importance of an enabling organisational context and change management. Carel Boers was the mentor of one of the key actors. Kurt Verweire, Regine Slagmulder, Geert Letens and Jonathan De Grande are the authors of the case study.

1 Create a burning platform Make sure people understand the need for change. Create a common sense of urgency. The Cooperative Bank Berlin sparked that sense of urgency by demonstrating that most of its loans were sold at a loss.

2 Address obvious issues There is no easier way to gain commitment than to address issues that will prompt people to say, “That’s what I’ve been saying for years!”

3 Expect and accept resistance to change People don’t like change and some need more convincing than others. Di� erent parts of the organisation will adapt to change at a di� erent pace.

4 Focus on the willingDon’t waste time trying to convince everyone. Some people will choose to leave or will have to be asked to leave. During the turnaround at the Cooperative Bank Berlin, about one-third of the sta� left.

5 Let results speak for themselves Work to gain credibility through successful pilot projects. Pick one that will make a di� erence. A successful turnaround of a department accounting for 60% of sales and one-third of the workforce secured the green light for a company-wide rollout at the Cooperative Bank Berlin.

6 Balance top-down and bottom-upTo achieve sustainable change, experience has shown that it is best to balance top-down vision and commitment with bottom-up engagement and autonomy.

Verweire: “That’s precisely why so many companies become disappointed with BSCs and stop using them.”

Unlimited budgetsIn the analysis phase, Boers works his way from the � nancial perspective to the customer perspective and, via the internal process perspective, to learning & growth (see sidebar). In the implementation stage, however, he works the other way round, tending to focus � rst on the learning & growth perspective. “Management and em-ployee development is the key to success. An organisation can only grow if you enable and encourage your people to grow in responsibility. I usually work with unlimited budgets for training & development. I trust people not to ask for more than they can comfortably handle.”

Boers has coached � nancial service institutions as well as non-pro� t organisations, and even the Dutch police. “The � nancial perspective in your BSC is not always pro� t; it can be value, social value if you like. But the approach and the criteria for success are the same, regardless of the type of organisation. If you believe that by develop-ing your people you can expand your organisation and improve performance, then BSCs can be used anywhere.”

High impact changesThe results are often nothing short of spectacular. At the German Cooperative Bank Berlin (see sidebar), for example, net pro� t surged tenfold, staff turnover plum-meted from 27% to 8%, while absenteeism dropped from 9% to 2%.



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Cooperative Bank Berlin illustrates the importance of an enabling organisational context and change management. Carel Boers was the mentor of one of the key actors. Kurt Verweire, Regine Slagmulder, Geert Letens and Jonathan De Grande are the authors of the case study.

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ENGAGING CLIMATE & COLLABORATIVE STRUCTURE

Beyond the carrot-on-a-stick approach“Financial rewards provide motivation, especially to earn more money,” says Professor Koen Dewettinck. But there is more to motivating people than paying them money. How can you make them go the extra mile to realise your organisation’s objectives? Dewettinck argues the answer lies in the ability to cultivate an engaging work climate. How employees experience their jobs makes all the difference.

q READ MOREProfessor Dewettinck’s research analyses how employees experience their jobs, the systems developed by HR to in� uence behaviour and the e� ect these systems have on employee experience. This article is a taster of an in-depth discussion of how to create an engaging work climate in the forthcoming book he has co-authored: “Managing for Performance Excellence – Vlerick on High-Performing Organisations”.

Koen Dewettinck+ [email protected]

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carrot-on-a-stick approach

“You’re not paid to think – just do what’s

on the job sheet” [Workshop foreman to worker]

Dewettinck: “A sense of meaningful-ness motivates people to do a better job. There’s this glass recycling factory that organises group visits to its customers’ premises. Listening to people talk with passion about what they do with the recycled glass helps the factory’s conveyor belt workers to understand why the quality of the glass is so important. It makes their job of sorting bottles much more meaningful all of a sudden.”

“45% of performance management systems

focus on objectives rather than development” [Vlerick study]

“Managers have the best intentions to just tell their team what to do, not how to do it. Surprisingly enough, our research found that employees prefer a more balanced approach. The more you focus on the development side, i.e. how to do things, the more you can challenge people with regard to objec-tives, i.e. what to do. The best systems are those that strike a balance between development and objectives.”

“How should I show my appreciation for excellent work?

Would a gift voucher be a good idea?” [Line manager]

“Making mistakes is only human. I

would just ask you to always tell me, so I can defend you.” [Manager to new employee]

“Fear has an adverse effect on performance. This manager has clearly understood the impor-tance of creating a climate in which employees aren’t too afraid to admit mistakes. He’s even willing to defend his team, rather than shift the blame as some do. I suppose this manager is also pre-pared to admit his own mistakes, which is the best way to ensure his staff do too.”

“It’s important for people to feel they have an impact. Spontaneous recognition by their superi-ors reinforces that feeling. Should you introduce a formal reward system? Quite often formalising it will actually kill it. Sometimes a simple, heart-felt thank-you is enough to show you’ve noticed and appreciate what someone’s done.”

READ MOREProfessor Dewettinck’s research analyses how employees experience their jobs, the

Xavier Baeten+ [email protected]




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ENGAGING CLIMATE & COLLABORATIVE CULTURE

Does pay drive performance?Few HR issues have as much symbolic value as pay for performance (PFP). How much? How? What for? An effective PFP policy answers these questions. Yet Xavier Baeten feels many companies don’t have clear answers. On the contrary, in many cases, PFP raises even more questions. “The practice of giving strategic rewards is not just a matter of bringing your policy in line with industry trends or the market average. If wielded properly, PFP can be a powerful tool for communicating where a company wants to go. It’s about choices and communicating the underlying logic.” However, one prerequisite for implementing PFP is to have a good performance management system.

Xavier Baeten is Manager of the Centre for Excellence in Strategic Rewards, the Executive Remuneration Research Centre and the Compensation & Bene� ts Management Programme at Vlerick.

q READ MOREWhat makes a good PFP policy? Find out all the do’s and don’ts in “Managing for Performance Excellence”.

“Any base pay increase should be at least 6% to have an effect on performance or motivation” [Prof. Jason Shaw, during

the 3rd European Reward

Management Conference

last December]

“I’m afraid that’s not realis-tic. Incidentally, this study implies that our practice of an annual 2-3% base pay increase does nothing in the way of motivating people or enhancing per-formance. In the current economic climate, there’s even more reason to ques-tion this practice. What’s more, I believe base pay increases should be linked to acquired skills and expertise, not perform-ance. That’s what bonuses are for.”

“Hard workers and slackers get the same

bonus. So why bother?”[Disgruntled worker]Baeten: “If you want teamwork, you need to reward it. Studies have shown that bonuses based on individual performance tend to discourage teamwork. However, other studies have found that team-based incentive schemes are vulnerable to the free-rider problem. How can you deal with this? By making individual contribu-tions visible. Free-riding happens less in smaller teams.”

“My employees see no connection between what

they achieve and how much they’re paid in bonuses” [Line manager]

“This is a typical drawback of pro� t-sharing schemes where companies distribute part of their pro� ts as bonuses to their em-ployees. Certainly, in larger organisations, not all employees can see their impact on pro� t (i.e. ‘line of sight’). You might question the motivational power of such incentive schemes. Higher up in the organisation, this is less of an issue because there’s a stronger link between the executive’s actions and the � rm’s performance.”

“40% of my bonus depends on customer satisfaction” [CFO in telecoms]

“You could argue that a CFO has little impact on customer satisfaction. Yes, but it sends a powerful message as to what the company thinks is important. Criteria like these force people to think about what they can do to contribute, which is often more than they initially realise.”



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INFORMATION INFRASTRUCTURE Action!INFORMATION INFRASTRUCTURE Action!The challenges for performance management are re� ected in the challenges set for IT systems supporting the automation of performance measurement and monitoring. These systems must provide accurate and actionable information and ensure organisation-wide consistency in decisions. Professor Stijn Viaene and senior research associate Luc Lutin explain that haphazard data collection will not do.

What are the typical challenges for BI applications?Viaene: “It’s no longer enough to be able to look back, which is what traditional reporting does, or to monitor in real time. Your business intelligence (BI) applications should also support your planning proc-ess, which is what most companies do actually focus on when rolling out a system. In my view, too little attention is paid to how these ap-plications can be integrated into day-to-day activities, especially at the strategic level. Balanced scorecards are used to kick off a meeting, but not to streamline it. It’s less of an issue at the opera-tional level, where scorecards and dashboards are more concrete and speci� c.”

Could you give an example of successful use of BI in daily operations?Lutin: “The Amsterdam-Amstelland police force is a wonderful example of an or-ganisation that has managed to integrate BI applications into its daily activities at all levels. More speci� cally at the operational level, they use BI to optimise re-source allocation. Using histori-cal data, they’ve built models to predict criminal activity. The

Checklist for practitioners

What should you bear in mind if you want automated and integrated informa-

tion-driven performance management to be a success?

9 Invest in an enterprise data warehouse

An enterprise data warehouse as the “single point of truth” is essential to sup-

port organisation-wide consistency in decisions.

9 Secure senior management’s support and commitment

Projects of this scope and scale have a big impact on your organisation and

require substantial investments. Senior management’s backing is crucial.

9 Set up a support organisation

You will need a competence centre to propose and roll out best practices

and procedures. This has been one of the critical success factors in the

Amsterdam-Amstelland police force.

9 Think big, but start small

Start with a well-chosen pilot project that you can use as a stepping-stone to

further development. Invest in a � exible and scalable IT architecture that is

responsive to changes in your business.

9 Approach BI as an end-to-end value chain

Failure to do so may result in solutions that are locally optimised, but that

provide functional value only, rather than enterprise value.

9 Focus on right-time, actionable information

Remember: information comes at a cost. And information, even correct

information, is useless unless you do something with it.

Business Intelligence (BI)A set of technologies and processes that use data to analyse and understand busi-ness performance. BI includes data access, reporting and analytics.

Data warehouseEnterprise-wide consolidated and standardised data, grounded in agreed de� nitions, business rules and registration requirements. Not necessarily physically set up as a single centralised database.




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1 BinK! = Boef in Keten(en), or Villain in Chains.

Prof. Stijn Viaene+32 16 24 88 [email protected]

Luc Lutin+ [email protected]

”Your business intelligence (BI) applications should also support your planning process, which is what most companies do actually focus on when rolling out a system. In my view, too little attention is paid to how these applications can be integrated into day-to-day activities, especially at the strategic level.”[Stijn Viaene, Deloitte Professor “Bringing It to

Board Level”]

police force now uses this informa-tion to plan patrols in problem areas. As a result, the crime rate in these areas has dropped.”

Viaene: “It illustrates what we call ‘operationalising BI’: making BI avail-able at the operational level of front-line employees so that it can trig-ger action. After all, no matter how accurate it is, information is useless unless it’s put to good use. KLM is another good example. They’d been collecting a lot of customer data from their frequent � yer programmes, but then hardly ever looked at it. Today this data is used to streamline all their customer-facing processes to ensure consistent customer experi-ence and brand perception.”

What do you feel is the most important requirement for an automated performance manage-ment system?Viaene: “It needs to provide the big picture, vertical as well as horizon-tal integration. It has to support, for example, balanced scorecards at the highest strategic level, as well as the cascading of these scorecards to lower operational levels with increasing detail. At the same time, it has to bridge organisational silos. All this assumes an end-to-end proc-ess view across levels, departments and functions.”

Lutin: “The Amsterdam-Amstelland police force looked at their end-to-end chain right from the start. This end-to-end view was replicated in

q READ MOREFor more practical tips, read “Managing for Performance Excellence”. This also provides a detailed description of the technical building blocks and applications supporting performance management, with special emphasis on enterprise data warehousing. The case study of the Amsterdam-Amstelland police force describes how an intelligent combination of information technology and or-ganisational change has led to greater e� ciency and e� ectiveness at all levels. Viaene and Lutin discuss the critical success factors and lessons learned.

their central data warehouse BinK!1, which integrates information from the police, the courts and other par-ties in the chain, such as the prison service. It is used as the single data source for analysis and report-ing at all levels. When someone is released from prison, for example, the police also know and can have a local of� cer check up on them to prevent them relapsing into crime.”

Using historical data, the Amsterdam-Amstelland police force has built models to predict criminal activity.”[Luc Lutin, senior research associate at Vlerick]

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centre for excellence in people performance

“The most important benefit is content”HR consultancy Hudson is one of the four Prime Foundation Partners of the Vlerick Centre for Excellence in People Performance (CEPP). Associate Director Talent Management Brecht Decroos and Practice Leader Performance Management Julie Fobe explain what’s in it for them.

The academic research results give us clear insight into the do’s and don’ts”

[Brecht Decroos, Associate

Director Talent Management

at Hudson]

Ideas on performance management are constantly evolving and changing”

[Julie Fobe, Practice Leader

Performance Management

at Hudson]

Brecht Decroos: “Vlerick and Hudson have over a decade of history together. We’re a listed HR consulting firm, with offices in more than 20 countries, and our Belgium-based operation has some 250 staff in six offices. We’re always keen to learn more about performance management policies and practices in the market, and the CEPP is very useful for keeping our finger on the pulse in that respect.”

Content“We work together on different levels,” he continues. “We make an active contribution during the CEPP workshops and meetings, and also have an advisory role in the CEPP, where we discuss the scope of spe-cific research carried out by Vlerick. Likewise, Vlerick is also involved in Hudson’s development activities as a sparring partner.

“We don’t use this partnership for commercial purposes: the most important benefit is content. If we want to keep up with trends, it’s very important to exchange ideas with Vlerick and the CEPP partners.”

Eye-opener“The CEPP has conducted academic research over recent years on the ef-fectiveness of performance manage-ment. It’s often an eye-opener for us,




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CEPP?The Centre for Excellence in People Performance (CEPP) was set up in 2004 to motivate employees to achieve outstanding performance. The Centre is a unique platform where member organisations share their experience and acquire fresh insight into how to engage and support employees to improve their performance.

Prof. Koen Dewettinck +32 9 210 97 [email protected]

The Performance Generator

Target: line managers

Format: an “action” book with exer-

cises, tips and Q&As.

and it helps us to develop the right solutions for our clients. The results give us clear insight into the do’s and don’ts. For example, you might have the perfect tool but lack the right communication tools, which can create a situation where the system fails.”

No one-size-� ts-all“We always have someone from Hudson in the CEPP ses-sions,” Julie Fobe adds. “It’s really a win-win situation: we can share our expertise, whilst getting a better view of the markets and trends, and differ-ent ideas about performance management – ideas that are constantly evolving and chang-ing. We’re always looking to see if we can incorporate these trends into the range of serv-ices we offer. But we also look at the context, because there’s no one-size-fits-all approach. We develop best practices based on a mutual exchange of knowledge and experience.”

Kirby Van Laere + [email protected]

http://www.vlerick.com/en/knowres/research_for_business_society/centres-for-excellence/1518-VLK/Tools/14215-VLK.html


Tooling up for managementNadim Penser, Vice President Human Resources & SHEQ/IMS (Safety, Health, Environment and Quality) with Swedish industrial giant Atlas Copco, explains how Vlerick’s Performance Generator helps empower managers.

“As a company, Atlas Copco is well established across the world and in our sectors. This means we work with lots of teams in different environments, and we need to ensure that they are all operating ef� ciently in line with our values. One of our key values is individual empowerment. We believe in leadership by coaching, where managers explain what they expect of their staff as individuals and as a team, and then coach them how to eliminate potential obstacles in their performance. The Performance Generator is a wonderful tool for helping achieve this.”

Mini-MBAThe Performance Generator is provided as part of the Parts and Services Master Class development programme that Atlas Copco runs in conjunction with Vlerick. “This programme is like a mini-MBA,” Nadim Penser explains. “It covers issues like marketing, service strategy, HR and � nance. The Performance Generator is a reference book that backs up key messages from programme sessions. It provides simple, concrete, easily applicable tools, and describes practical examples of how to motivate people and produce teams that function effectively.”

Insight and inspiration The Performance Generator helps teach managers how to manage people well. How do you set concrete goals to empower people? How do you motivate them and re-ward them? How do you create a feedback culture? Nadim Penser: “Each individual gains insight and inspiration. It’s then up to them to take back what they’ve learned to their respective markets and companies, and decide how they want to implement it.”

Freedom“The messages about motivating people and empowerment are very much in line with Atlas Copco’s values and philosophy, and help give structure and meaning to the performance management system. We want to give people the freedom to achieve their results on their own, with the support of their manager.”

THE PERFORMANCE GENERATOR



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HIGH-PERFORMANCE TEAM CLIMATE TOOL

The science of team building

It’s easy to talk about teamwork but harder to actually do it, according to Tina Davidson, Research Associate at the People & Organisation Competence Centre. She reveals the latest CEPP research into enhancing team performance.

The Vlerick Centre for Excellence in People Performance (CEPP) recently looked at various drivers for team performance. Tina Davidson: “When it comes to the team dynamics, we felt the work climate was a key driver: while more and more organisations recog-nise that teams are important, they fail to actually manage them as teams.”

Research set-up“We decided to test this theory with new research. We studied the literature and talked to various human resources experts before designing our own questionnaire. We had 43 teams in our sample, each with an average of � ve members and covering a range of sectors: banking, manufacturing, HR services, engineering, pharmaceuti-cals, and even public services.”

Key dimensionsThe results revealed four key dimen-sions for any successful team:- vision: whether the team vision is

readily understandable and team members can commit to it;

- task: whether the team re� ects on and improves its task strategies through feedback;

- relationships: whether the interper-sonal atmosphere is one of non-threatening trust and support;

- energy: whether team members trust and believe in the team.

Tina Davidson+ [email protected]

“We found that all the dimensions mattered, and all had to be managed together. This is logical: if you have a team vision but don’t provide strong feedback, and there’s no trust, it will be dif� cult for the team to move forward.”

Individual versus team performanceGaining insight into the team dynam-ics that drive team performance is especially relevant as team perform-ance is often a more reliable indicator for organisational performance than individual performance. “In fact,” Tina

Davidson comments, “you might have � ve individuals that perform very well individually, but when you put them all together, the team might underper-form – because of poor team dynamics, a lack of trust or a failure to provide feedback. So individual performance is not transferred to the team.”

And then there’s… the manager“Although people work in teams, they’re not always managed as such. Our four dimensions can be a good starting point for managers to develop team rather than individual performance. Giving teams the opportunity to regularly sit down together and re� ect on their objectives and the way they try to reach them can create a fresh dynamic, and helps develop an engaging climate.”


DOSSIER

Luc Lutin+ [email protected]



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Operating as a shared services cen-tre, ICTRA provides ICT and telecom-munications services to the rest of the SNCB Group. The increasing liber-alisation of the transport sector puts pressure on the SNCB to continually improve its ef� ciency. And although ICTRA is a preferred supplier to the Group’s business units, it is not im-mune to this pressure.

Nathalie Demeere: “Its perceived ef� ciency left a lot to be desired. The business units questioned ICTRA’s services as well as its transfer pricing mechanism.”

What were the challenges?To become a respected and trusted business partner, ICTRA launched a � nance transformation programme that would address the major chal-lenges they faced. “Some of the issues they wanted to tackle included the lack of alignment between the busi-ness and the IT shared service centre, unclear and inadequate costing mod-els, a cumbersome and inef� cient budgeting process, simplistic and inadequate costing models, a � nan-cially immature organisation, and unclear roles and responsibilities,” explains Nathalie.

The programme was led by ICTRA Finance (CFO) with the close involve-ment of the CIO.

ICTRA

Finance on the right trackICTRA, short for ICT for Rail, is a division of the NMBS/SNCB Group (Belgian Railways). Nathalie Demeere, Finance Transformation Manager at Deloitte, explains how in 2008-2009 ICTRA embarked on a substantial � nance transformation programme to improve its business performance management, so when she did the Executive Master Class in Controllership at Vlerick, she chose this as the subject of her in-company project and dissertation.

Transformation to successWhile the programme focused on the increased alignment between business and � nance, the product/service catalogue, the service costing and transfer pricing mechanism, and redesign of the planning & budget-ing process, it also addressed other areas of performance management: ICTRA aligned its services with the strategic requirements of the busi-ness, established service de� nitions and service-level agreements to meet business performance targets and developed better monitoring and reporting tools. It also changed its organisational structure, software sys-tems and data architecture to support its new processes.

“Improved ef� ciency, quality and transparency” is the result of this integrated approach, according to Nathalie. “And thanks to clear-cut roles and responsibilities, there’s an increased sense of ownership and accountability. ICTRA has become a more � nancially mature organisa-tion.”

Cultural changeThe � nance transformation went hand in hand with a structured change management (directly – through the change management programme – and indirectly – by choosing the right management accounting control

This change wasn’t forced, which has de� nitely contributed to the success of the programme” [Nathalie Demeere, Finance Transformation Manager at Deloitte]

systems & rules). It was instrumental in this change process, by fostering the adoption of new management practices. Looking back, Nathalie believes this is why the transforma-tion has also led to a radical cultural change. “This change wasn’t forced, which has de� nitely contributed to the success of the programme. In the process, the � nance and operational IT teams have developed a strong relationship of mutual trust, working together as one professional team. As a result, ICTRA has gained credibil-ity with the business units of SNCB.” Although the transformation is still ongoing, Nathalie believes that a solid base has been laid.

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INTERNATIONAL NEWS F

RUSSIA

Россия

MODULAR PART-TIME PROGRAMME PARTICULARLY POPULAR

Russian reference The St Petersburg Campus is Vlerick Leuven Gent Management School’s third campus. Located in the city’s historical and commercial centre, the School offers a part-time MBA and has graduates successfully operating at top management levels in a wide variety of sectors. The part-time programme with its modular format is particularly popular and we talked to three of its graduates to hear how they look back on their MBA experience.

Why did you choose Vlerick?Alexander: “I wanted a truly international MBA programme, which pretty much narrows the choice down in Russia. Vlerick’s MBA stands out because it is international and taught by highly quali� ed and competent professors, people who not only know what they’re talking about but are also able to impart their knowledge to others.”

How did the programme format � t in with your work schedule?Alexander: “The modular format is very convenient. It reduces time pressure and makes it easier to � t into a work schedule. I only actually missed one day of work every three works. And because the subject matter is so interesting, you � nd the time to complete your assignments without even realising it.”

Roman: “It’s a lot of work of course, but the investment pays off. Tools such as Skype and shared Google apps make it easy to communicate with your fellow students, so it doesn’t re-ally matter where you’re based.”

What bene� ts have you found from attaining an MBA?Roman: “I initially concentrated more on what knowledge I’d best be able to apply after gradua-tion. However, I found that I got a lot out of the course straight away, in terms of not only new ideas and different approaches to business, but also friends and

the business network. Actually, I immediately turned theory into practice by restructuring the whole of my logistics depart-ment. Vlerick totally delivered what I expected.”

Galina: “ I had worked at a reputable hotel in St Petersburg for 15 years. The MBA enabled me to make a career move and face the challenge of working in a brand-new hotel property. The programme gave me a better understanding of the importance of marketing and brand strength and has equipped me to access, prove and plan the cost side of it.”

What would you say to new or potential students?Galina: “My advice would be to really take the sessions seriously and use the knowledge you gain to the best of your ability. And above all, you should actively source additional information.”

Alexander: “The programme de� nitely changes your under-standing of what’s going on in the business world. It enables you to better grasp the full picture, monitor market changes and more carefully plan the steps you need to take. What’s more, it also helps you develop your under-standing of your company and the people in it.”

Alexander Arsenjev is Senior Vice President at YIT International and graduated in 2009.

The modular format makes it easier to � t into a work schedule”

Tools such as Skype and shared Google apps make it easy to communicate with your fellow students”

Roman Vasenin is Head of Logistics & Purchasing at Marussiya Motors and also graduated in 2009.

The MBA enabled me to make a career move”

Galina Musta� na is Financial Controller at Starwood Hotels & Resorts and graduated in 2010.

www.vlerick.ru


INTERNATIONAL NEWS CHIN

AF

BIMBA PARTNERSHIP CONTINUES

“An incredible opportunity”Vlerick has renewed its MBA partnership agreement with China’s prestigious Peking University for a further � ve years. The of� cial signing ceremony took place last October in the presence of Belgium’s Prince Filip and Princess Mathilde during their royal trade mission to China.

Peking University and Vlerick Leuven Gent Management School have co-organised the Beijing International MBA (BiMBA) since 2008 and it is now ranked eighth best MBA in Asia by QS Top MBA. “BiMBA is a success, � rst and foremost, because of the high quality of the education it provides,” says Bruce Stening, International Dean of BiMBA. “We take great care to recruit professors who are not only experts in their � eld, at the cut-ting edge of developments, but also skilled teachers, able to impart their knowledge and inspire their students. The second major reason is that the programme has a large pool of excellent applicants to choose from. And thirdly, Vlerick has a very good track record in terms of the jobs that its graduates secure after completing the MBA.”

More cross-learningThe schools teach the BiMBA pro-gramme in English on either a full-time or a part-time basis. Currently,

Prof. Bruce SteningTel: + [email protected]

www.vlerick.com/mba

BiMBA offers Vlerick an incredible opportunity to be part of helping develop the next generation of Chinese business leaders”[Bruce Stening, International Dean of BiMBA]

full-time MBA students in Leuven travel to China for a two-week study trip. Plans are in the pipeline to increase the level of cross-learning by providing more opportunities for students in the Peking-based pro-grammes to spend time studying at Vlerick in Europe.

On-the-ground presence in ChinaThe collaboration is a win-win ar-rangement for the two schools and gives Vlerick important on-the-ground presence in China. Stening: “At a time when the greatest hopes for continued world economic growth depend on China for the foresee-able future, Vlerick is ideally placed to take a leading role in educating European businesses and managers about the opportunities and challeng-es that exist in China. Our presence there enables us to properly develop this knowledge and the networks re-quired to access it. It also represents an incredible opportunity to be part of helping develop the next genera-tion of Chinese business leaders. In a country that takes a long-term perspective and where people have strong links with the universities they studied at, Vlerick’s investment in this venture is likely to provide very fa-vourable returns for a very long time.”

Princess Mathilde and Prince Filip attended the o� cial signing ceremony.

MODULAR INTERNATIONAL MBA WELCOMES 45 STUDENTS

New record!Vlerick’s Modular International MBA Programme started in January with a record 45 new students. Classes are held mainly on Saturdays and Sundays, enabling partici-pants to earn an MBA degree whilst continuing to work full-time. It also allows them to pursue their studies outside of of� ce hours and hence without having to obtain permission from their employer. The weekend format has also proved useful for women combining education with family life (25% of this year’s intake is female) and for international students. What’s more, Vlerick’s professors particularly enjoy teaching in this programme, as the participants tend to be more relaxed at the weekend and are not constantly interrupted by mobile phone calls.

NEW PROGRAMME

“Strategising for innovation”Vlerick has teamed up with the University of Cambridge Judge Business School to create the new international programme “Strategising for Innovation”. This six-day modular programme given in Leuven and Cambridge is targeted at senior execu-tives within established technology-based organisations. The emphasis is on ecosystem innovation – in other words, innova-tion regarding the set of actors involved in designing, building and marketing a solution. Participants also learn how to create collaborative partnerships and blend corporate with entrepre-neurial innovation models to create future technology options and accelerate emerging businesses.

EQUIS and AMBA accreditations renewed

The EQUIS accreditation has been conferred on Vlerick Leuven Gent Management School for a further � ve years. This means that Vlerick is now

part of a select group of only 15 busi-ness schools that have received an un-

conditional full � ve-year accreditation three times in a row. The EQUIS Awarding Body was impressed with the signi� cant progress made since the School was � rst accredited in 2001, and particularly commended its commitment to executive education and its careful attention to the development needs of its clients.

The British Association of MBAs (AMBA) has also extended its accreditation of the Vlerick MBA portfolio. It recognised strong and effective lead-ership and a collective entrepreneurial spirit in the School as being contributory to the progress made over the past � ve years.

The re-accreditations mean that the School con-tinues to be one of an elite group of institutions that holds the three main international accredi-tations: the American AACSB, the British AMBA and the European EQUIS quality label.


SCHOOL UPDATE

Gladys Van Nuff el + gladys.vannuff [email protected]

Stijn De Zutter+ [email protected]

www.vlerick.com/strategising-for-innovation

Farewell to ProFessor roland Van dierdonck

scHool UPdate


“Internationalisation – for students, faculty and programme content”

On 31 December 2011 Professor Roland Van Dierdonck retired from Vlerick after 40 years with the School. During his long and distinguished career, he also taught at other schools and universities, including IMD, INSEAD and Rotterdam School of Management. A partner and professor of Vlerick and Ghent University, Roland Van Dierdonck was Dean of Vlerick Leuven Gent Management School from 1987 to 1990, and again from 1997 to 2007.

Over the years, with his broad experience in the fields of supply chain management, manufacturing strategy and service operations management, Professor Van Dierdonck became a mentor and point of reference for many of Vlerick’s researchers and young faculty mem-bers. In addition to all his other activities, he is currently Associate Director Quality Services of the European Foundation for Management Development (EFMD). On the eve of his retirement from Vlerick, we asked Professor Van Dierdonck about his views on the future of business schools in Europe.

How do you see the European business school market evolving – what trends do you see?Professor Van Dierdonck: “First of all, internationalisation. And this applies to students, faculty and programme con-tent alike. European business schools have been pursuing this trend over the past 10 years or so, often by creating alliances, or even mergers, with other business schools around the globe. So I see more and more strategic alli-ances, with a view to internationalising, as a major trend for the future.

“A second trend is evident in the field of executive educa-tion. Many business schools focus on their undergraduate or Master’s programmes, and often treat executive educa-

tion as a side issue. I think top business schools will move towards fully integrated executive education activities.

“Along with executive education, there is the growth in company-specific programmes. In the past, management education was viewed almost as a luxury – people did not see it as an important part of their career path. But today, companies regard it as a necessary component in man-agement development. And to maximise the educational impact, organisations are opting for company-specific programmes that bring development to a particular tier of their management or to an entire department. The busi-ness school mind-set is therefore changing from a B2C (where an individual undertakes a specific programme) to a B2B model. And this means that companies must rec-ognise that executive education is a major element of the school’s offering – that it’s strategically embedded within the school.”

Finally, Professor, what defines a successful business school? “A school that has been able to develop a brand. And how do you do that? By identifying what makes you uniquely distinctive – why someone should choose Vlerick over all the other business schools. This is exactly what we’re busy formalising today.”

A top business school is one that has fully incorporated executive education into its offering and has successfully developed a brand”[Professor Roland Van Dierdonck]

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D Programme in DutchE Programme in English

Programmes subject to change. Please check our website for updates. For more information

about the programmeswww.vlerick.com

PROGRAMMES

ACCOUNTING & FINANCE

D Understanding Annual ReportsStarts on 19/03/2012+ 32 9 210 97 [email protected]

D Mastering Costs & BudgetsStarts on 02/05/2012+ 32 16 24 88 [email protected]

E Strategic Cost ManagementStarts on 09/05/2012+ 32 16 24 88 [email protected]

D Fundamentals of Financial ManagementStarts on 04/06/2012+ 32 9 210 97 [email protected]

E Valuation of companiesStarts on 07/06/2012+ 32 9 210 97 [email protected]

ENTREPRENEURSHIP

D Entrepreneurship for ManagersStarts 07/05/2012+ 32 9 210 92 [email protected]

GENERAL MANAGEMENT

E Advanced Management Programme - ReloadedStarts on 14/03/2012+ 32 9 210 97 [email protected]

D Young Management ProgrammeStarts on 16/04/2012+ 32 9 210 99 [email protected]

E International Management ProgrammeStarts on 08/05/2012+ 32 9 210 97 [email protected]

D Middle Management ProgrammeStarts on 21/05/2012+ 32 9 210 97 [email protected]

E Advanced Management ProgrammeStarts on 23/05/2012+ 32 9 210 97 [email protected]

HEALTHCARE MANAGEMENT

D Healthcare Management Day E 12/03/2012

+ 32 9 210 98 [email protected]

E Management for the hospital D professional (Module 5: People)

Starts on 28/03/2012+ 32 9 210 98 [email protected]

HUMAN RESOURCE MANAGEMENT

D HRM with impactStarts on 15/03/2012+ 32 9 210 92 [email protected]

D Strategy development and trainingStarts on 03/05/2012+ 32 9 210 92 [email protected]

E Vlerick HR Day13/06/2012+32 9 210 97 [email protected]

ICT & BUSINESS PROCESS MANAGEMENT

E We Invite for you …Starts on 01/03/2012+ 32 9 210 98 [email protected]

D ICT-ManagementStarts on 12/03/2012+ 32 9 210 98 [email protected]

E Executive Master Class in Business Process ManagementStarts on 15/03/2012+ 32 9 210 98 [email protected]

E Business Process Management WorkshopStarts on 25/04/2012+ 32 9 210 98 [email protected]

E Excellence in Business Process ImprovementStarts on 23/05/2012+ 32 9 210 98 [email protected]

E Business Intelligence WorkshopStarts on 04/06/2012+ 32 9 210 98 [email protected]

D Business Process Management WorkshopStarts on 13/06/2012+ 32 9 210 98 [email protected]

INNOVATION MANAGEMENT

E Corporate Innovation ManagementStarts on 20/03/2012+ 32 9 210 92 [email protected]

E Vlerick Innovation NetworkStarts on 20/03/2012+ 32 9 210 92 [email protected]

E Strategising for InnovationStarts on 18/04/2012+ 32 9 210 92 [email protected]

E Strategic IP ManagementStarts on 22/05/2012+ 32 9 210 92 [email protected]

MARKETING & SALES

D Retail & Trade MarketingStarts on 24/04/2012+ 32 9 210 98 [email protected]

D Introduction to Marketing ManagementStarts on 26/04/2012+ 32 9 210 98 [email protected]

D Product managementStarts 08/05/2012+ 32 9 210 98 [email protected]

D Brand ManagementStarts on 29/05/2012+ 32 9 210 98 [email protected]

D Strategic Business-to-Business MarketingStarts on 07/06/2012+ 32 9 210 98 [email protected]

OPERATIONS & SUPPLY CHAIN MANAGEMENT

E Supply Chain ForumStarts on 08/03/2012+ 32 9 210 92 [email protected]

E Executive Master Class in Supply Chain Management Starts on 08/03/2012+ 32 9 210 98 [email protected]

E Purchasing ManagementStarts on 26/04/2012+ 32 9 210 92 [email protected]

PEOPLE MANAGEMENT & LEADERSHIP

D Executive Decision MakingStarts on 13/03/2012+ 32 9 210 97 [email protected]

D The People ManagerStarts on 22/03/2012 (Ghent)Starts on 29/03/2012 (Leuven)+ 32 9 210 92 [email protected]

D How to improve your emotional intelligenceStarts on 26/04/2012+ 32 9 210 97 [email protected]

D Negotiating to create valueStarts on 07/05/2012+ 32 9 210 97 [email protected]

STRATEGY

E Strategy in ActionStarts on 03/05/2012+ 32 9 210 97 [email protected]


“Internationalisation – for students, faculty and programme content”

Apri l 26, 2012

VLERICK ALUMNI MARKETING COLLOQUIUM

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Speakers from the Tias Nimbas Business School, Ogilvy and Virgin Galactic

INFO Date

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AN INNOVATIVE PERSPECTIVE ON INNOVATION

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WIL JE LIEVER ONMIDDELLIJK PRAKTISCHE TOEPASS-INGEN VAN TRANSFORMATIE ERVAREN?

SLUIT JE DAN AAN BIJ HET JAARPROGRAMMA VAN HET TRANSFORMATIELAB VAN HET DERDE OOG

HOE SELECTEER JE DE MEEST AANGEPASTE METHODIEK

VOOR TRANSFORMATIE IN JE EIGEN BEDRIJF?

Transformatie is een woord dat de laatste tijd regelmatig opduikt. Maar wat betekent dat nu eigenlijk? En wat kan je ermee in je bedrijf?

Deze opleiding geeft een overzicht van wat transformatie is en wat het niet is. Het laat je proeven van vijf toepasbare methodieken. Je leert ook hoe je de beste methodiek voor jouw situatie, jouw bedrijf kan kiezen. REDENEN OM DEZE UNIEKE OPLEIDING TE VOLGEN

Tijdens deze opleiding krijg je een goed gestoffeerd theoretisch kader voor verandering. Als je wilt kennismaken met transformatie, als je op zoek bent naar andere manieren om meerdere dimensies van je organisatie gelijktijdig te veranderen, dan is dit het ideale startpunt. BEGELEIDER

Ben Barbé, Janssen Pharmaceutica, heeft jarenlange ervaring met opleidingen in verbeter- en verandermethodologieën en het begeleiden van leiderschapteams in veranderingsprocessen.

Hij begeleidde een aantal transformaties in de eigen organisatie. De laatste vier jaar bestudeerde hij vooral transformatie als multidimensioneel veranderings-proces. Ben is ook spiegelpartner van het Transformatielab van Het Derde Oog sinds de start van het project in 2008. In 2005 won Ben de verkiezing van de Kwaliteitsmanager van het jaar en was hij ook “European Quality Leader of the Year”, verkozen door de European Organisation for Quality (EOQ). PRAKTISCH

Deelnameprijs: €600

Data: 12 april of 4 september 2012

Meer info over het programma en inschrijvingen via www.vck.be

UNIEKE OPLEIDING ALS JE IN JE ORGANISATIE VERANDER-INGEN EN TRANSFORMATIES WIL LEIDEN OF BEGELEIDEN

VCK-Adv-Vlerick-CursusTransf-2012.indd 1 30/01/12 14:44

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