All of us have expectations.
We all expect to be happy.
We all expect to be healthy.
We all expect to be successful in life.
And we base our expectations on the values
learned from our parents and our community.
The same applies for corporations.
Business leaders (or CEOs) aim to set up their
companies in a profitable way.
They expect to earn more money than the money
that was initially invested by shareholders.
They expect to grow, and – in addition to
being profitable – business leaders want
to meet and exceed customer expectations.
So, the same principle applies here.
Business leaders want and expect to be successful.
However, being successful is a pretty subjective
state and depends on who or what you compare
yourself to.
The people who have invested in your company,
your shareholders, are interested in minimizing
all expenses, growing revenues as much as
possible, and maximizing profits as a result.
Employees, on the other hand, expect a healthy,
effective, and efficient working environment,
as well as a stable income.
This, although absolutely fair, costs money
(and therefore isn’t in line with investors’
direct interest).
Nonetheless, fair compensation is necessary
for employees to be engaged and motivated.
And there are third parties, outside the organisation,
who have expectations as well.
Suppliers, for example, expect to be paid
as soon as possible.
Customers, on the other hand, are very often
interested in having the best products at
the cheapest price, while authorities are
focused on two very different main aspects
– job creation and tax collection.
So, collectively, all these parties – the
people and organisations that have an impact
on your business – are called stakeholders.
Stakeholders can be internal, which is the
case with employees, or they can be external
(like suppliers, clients, and tax authorities).
So, we can agree that expectations are pretty
subjective in their nature.
This is the case not only when we deal with
the expectations of different stakeholder
groups, but sometimes also when we talk to
the individuals in each of these groups.
The people composing a given stakeholder group
can have different expectations regarding
the optimal outcome.
Every CEO wants to have happy and engaged
employees.
However, at a certain point they realize that
some employees are happy because they have
a 9 to 5 job, while others are not happy with
a 9 to 5 job because they want to be challenged
and are interested in learning more in order
to grow professionally.
Therefore, in practice, it is not easy to
deal with subjective information and come
up with specific strategies to deal with it.
And this is what management is all about.
World-class managers can understand the subtleties
of such subjective situations and address
them accordingly.
In this course, however, we will focus on
objective expectations.
Given that a company has multiple stakeholder
groups with different and sometimes conflicting
expectations, it is up to the CEO and the
Board of Directors, to set the expectations.
The CEO with his or her management team is
responsible for the daily operations, while
the board of directors is focused on the longer
term, the strategy and vision for the company.
That said, the Board and the CEO are collectively
best qualified to set objective, non-conflicting
expectations for the company.
And that’s exactly what they do.
Great!
We’ll talk about a company’s long-range
plan and about the preparation of an annual
business plan.
Of course, our goal is to understand how these
two types of plans function together and complement
each other, so let’s get started!
Typically, in the corporate world, expectations
are set in different phases.
First, you need to think about the firm’s
vision and mission.
In the best-case scenario, the company’s
founders and CEO have organized the business
with a clear idea of what they would like
to achieve.
And every CEO has a purpose and vision for
their company.
The vision of Coca-Cola European Partners,
for example, is that they want to be a total
beverage company, a leading consumer goods
company, and the world’s most valuable Coca-Cola
bottler in the world.
The purpose of Coca-Cola is that they want
to delight their customers and consumers and
are eager to sell great beverages, both delivering
great services and creating shared and sustainable
value for their stakeholders.
Alright, that’s great.
But these objectives might have one problem
with them.
They are difficult to measure and quantify.
This is where the finance department of the
company comes in.
They need to translate such vision and purpose
into numbers.
One way to do that is to predict the company’s
revenues, cost of production, and expected
profit.
Typically, companies prepare a so-called Long-Range
Plan, a prediction of how the business would
evolve in the next 3 to 5 years.
Now, I’m sure you’ll agree that the preparation
of this kind of document requires a lot of
input from multiple stakeholders.
And since different teams are responsible
for different divisions of the firm, you will
also need input from strategy, marketing,
supply chain, sales, human resources, legal,
engineering, finance, and all the other departments
that are involved.
As you already know, all these units have
certain expectations, and they are each accountable
for meeting them.
Once the expectations are formalized, they
are translated into numbers, which are then
called a budget or a target.
Alright.
A long-range plan spans the next 3 to 5 years.
Once the company is ready with these targets
for the coming years, the next phase can begin.
It would consist in detailing out the first
year of the long-range plan.
We call this the Annual Business Plan (ABP).
The preparation of the ABP is on the surface
quite similar to that of the Long-Range Plan.
However, the Annual Business Plan requires
truly a great level of detail.
This is how businesses capture the expectations
of stakeholder groups.
The next part of the process consists in tracking.
Monitoring how you are progressing against
the expectations set in the budget and long-range
plan is extremely important.
Some of the major activities during this stage
is comparing the actuals of the previous month
versus the budget, as well as forecasting
how the business will progress the year against
the set expectations.
Typically, companies are re-forecasting their
expectations monthly and compare these with
the budget and previous forecast.
This helps them adjust their strategy and
take additional actions to hit their set budget
or targets.
For example, if you look at a 12 months period,
and see that for the first quarter of the
year you are trending lower than your budget,
you can expect that this trend will continue
and that you will miss your target (your target
being your budget).
However, now that you have this insight, you
know you must take counter measures to turn
this trend and hit your budget.
Some actions you could take is making a stronger
marketing effort or cutting specific costs.
So, a company needs to understand the reason
for over or under performance in the course
of business operations.
And the way this is accomplished is through
an effective and efficient set of analysis
and analytics that measure performance and
allow for corrective measures when necessary.
Great!
We briefly mentioned two very important terms.
Analytics and analysis.
The two are often used interchangeably and,
in general, there isn’t a consensus about
which activities fall under the category of
analytics and which can be defined as analysis.
For the purposes of this course, we’ll adopt
the following interpretation.
Analysis is the investigation of why something
happened.
When we are looking at the variance between
actual figures and the numbers in the firm’s
budget, we are doing analysis.
If we want to understand the underlying business
performance of a company, we’d be analysing
the variance of a financial item such as revenue.
And the way these assessments are done is
by using data we have gathered about our business
performance so far.
Basically, when you are doing analysis, you
look backward in order to understand how your
company has performed against the expectations
of your stakeholders.
Okay!
In the beginning of the course, we said that
every stakeholder has expectations and that
we need to translate these into numbers.
I am referring here to the Long-Range Plan
and the detailed plan for the year to come
(that’s the Annual Business Plan or ABP).
That means that when we prepare these plans,
we need to predict what will happen in the
future.
Of course, we’d usually have some past business
data, but sometimes, what happened in the
past is not the best predictor of the future.
Therefore, we need to have more sophisticated
tools for prediction that are forward-looking
rather than backward looking.
And this is where analytics comes into play;
analytics is a model to create scenarios and
predict performance on the basis of these
scenarios.
In essence, analytics is a strategic asset
that enables top management and the Board
of Directors to make better informed decisions.
So, the difference between analysis and analytics
is that analysis is backward looking, while
analytics steps on past and current data,
and is primarily forward-looking.
we provided a general idea of how companies
develop short and long-term expectations.
We talked about why that is necessary, and
how businesses set up a system to monitor
their performance.
So, in this section, we’ll start to examine
things in a bit more detail.
We’ll do that by looking into practical
examples and making sure that you understand
well the mechanics of the entire process.
Now, although we already discussed the importance
of different stakeholder expectations, to
address this topic properly, we need to dig
deeper.
In the next few lessons, we’ll introduce
you to who these stakeholders are, we’ll
examine the expectations of the various groups
of stakeholders, and we’ll see how these
are then translated into the Long Range Plan
and the Annual Business Plan.
One of the essential pre-requisites of building
a forward-looking model for a company’s
business is understanding who its stakeholders
are and what expectations do they have.
Here is how a stakeholder mapping exercise
looks like.
The participants will vary from company to
company, but in general these are the main
stakeholder groups for most companies.
As you can see there are several of them.
Employees, suppliers, customers, markets of
operation, investors, the different communities
in the markets of operations, as well as the
public administration there.
Here’s an exercise for you.
Think of the stakeholders of Coca-Cola in
the US and try to recreate the template that
you just saw and which will be available as
a downloadable resource that comes with this
lesson.
Once we have identified the different stakeholder
groups, it will be our goal to study their
expectations.
This is a very important exercise, because
missing on the expectations of an even one
stakeholder group can have a massive impact
on the firm’s profitability.
Think of following situation.
A firm doesn’t prioritise social security
payments and pays such contributions with
a certain delay.
Local authorities will likely fine the company
significantly, which is obviously something
to be avoided, and a problem that could have
serious financial repercussions.
So, we need to understand how social securities
are calculated and when is the right time
to pay them.
This example is a bit trivial.
But also think how many such separate aspects
need to be taken into consideration for each
stakeholder group.
I am sure you will agree that such planning
needs to be done very thoroughly.
The easiest and most effective way to understand
the expectations of different stakeholder
groups is by asking questions.
Soft skills are very important at this stage.
All of us can learn by reading documents on
paper, but the most knowledge is to be found
from the people around you.
To be successful you need to talk to stakeholders
and ask the right questions.
Think about which questions you need to ask
in order to understand how your sales, production,
logistics and finance department works.
Ask “who”, “what”, “when”, “where”,
“why” and “how” questions.
Meet these people and try to understand the
risks and opportunities they see.
Listen actively and try to be as flexible
as possible to adapt to your stakeholders’
needs.
The knowledge you will get from these interviews
is the backbone on which we will proceed and
start building the firm’s business intelligence
– the fundamental ingredient for the business
analytics exercise.
You have probably heard the term “business
intelligence”.
In fact, we’re counting on it.
Business intelligence is the ultimate goal
of any analytical project: to move from simply
having information, consisting in facts and
data, and reach valuable insights.
The idea is to gain an accurate and deep understanding
of a company’s business through business
intelligence.
So, in essence, this is an exercise of applying
the available knowledge and skills in an organization
to Predict and Prescribe the firm’s performance.
Of course, there are different strategies
to acquire business intelligence.
Some of them are rather qualitative and others
are numbers-driven.
An example of a qualitative approach to business
intelligence is considering a firm’s Risks
and Opportunities.
This represents a diagnostic and descriptive
analysis that takes into consideration the
current environment and identifies various
risks and opportunities for the business.
For example, a risk for a bottling company
like Coca-Cola European Partners would be
if authorities decide to increase tax on plastics.
But at the same time there could be opportunities
too.
An example of such opportunity is introducing
more healthy drinks.
So, once a company receives a Risks and Opportunities
report, it can analyse the information relevant
for them, and try to or mitigate if something
is a risk or explore if it is an opportunity.
Typically, once you have generated a qualitative
analysis, you would try to quantify the risks
and opportunities you’ve identified.
But what does that mean?
Well, let’s go back to our example of increased
taxes on plastic bottles.
The increased tax will increase the selling
price of the product, since it is typically
the customer who pays added costs.
This in turn will likely result in lower sales
for the company.
So, in an attempt to quantify the risks from
the risks and opportunities report, the company
will try to quantify the magnitude of the
lower sales.
On the other hand, the tax situation can also
be seen as an advantage, as it will stimulate
companies to look for alternative packages
and recycle more.
So, the Risk of higher taxes may result in
the opportunity to use environmentally friendly
packages and improve recycling practices.
So, in the quantitative analysis which will
follow, the company will estimate the additional
investments required and the impact of these
investments on their future sales.
But let’s dig a little deeper into quantitative
analysis and try to understand how we can
obtain business intelligence insights by stepping
on the underlying data, understanding it,
and make intelligent conclusions.
To do that, we can continue to use the increased
tax on plastics example.
Let´s apply a simplified predictive analytical
tool to translate this situation into financial
figures.
Based on our analysis, our predictive model
shows that the sale of products in plastics
will decrease.
What would be the best strategy for our company?
We cannot adjust production patterns overnight.
Also, some customers prefer plastic because
it is light and is a better alternative to
glass.
Once again, this begs the question: what would
be our strategy?
Obviously, we understand that we need to avoid
litter and that everybody, including companies,
plays an important role in establishing recycling
practices.
Alright!
So, based on the underlying information, we
can come up with the following strategy.
The company needs to come up with the appropriate
package for the appropriate occasion.
Recall what increasing the plastic tax means
for us: we will generate lower sales because
the higher taxes will result in higher selling
price.
So, we can adapt to promote glass package
for home usage, while promoting plastic package
for usage on the go.
This can be combined with a strong message
to our customers to recycle and our commitment
as a company to use more recycled content.
With this strategy, our predictive model shows
that the lower sales of plastics will be compensated
by increased sales of our glass packages.
Great!
Okay.
In our examples we used the underlying data
to obtain business intelligence insights and
came up with an intelligent strategy.
We used analytical tools to understand our
business.
We call this Enterprise Performance Management
(or EPM).
The ultimate goal of EPM is to understand
real business performance.
It highlights the underlying effectiveness
and efficiency of your operations.
The insights you get form EPM helps you build
your business plan, your strategy, and highlights
the risks and opportunities for your company.
Awesome – now you understand that analytics,
like Enterprise Performance Management, gives
you better insights about your company’s
performance.
So, while analysis just describes what has
happened in your business, analytics looks
at end-to-end processes and gives you the
business knowledge necessary to make better
informed decisions.
Ok.
We are doing excellent.
So far, we have covered several important
topics.
We identified the stakeholders of a company
and the kind of expectations they have.
Then we learned how to ask relevant questions
to acquire business intelligence insights.
And how this helps a company translate such
insights into a holistic Long Range Plan and
an Annual Business Plan.
In addition, we described how the Long Range
Plan and the Annual Business Plan are compared
against the company’s performance during
the year (when actual figures start unfolding).
We have made some excellent progress!
And now, it is time to introduce some more
sophisticated strategies that could help broaden
an analyst’s understanding of a company.
We know that the first step of the analytical
process is to ask the relevant questions to
the firm’s plurality of stakeholders.
Let’s assume that that’s done.
They shared with you their views and provided
opinions regarding the future development
of the business and the goals the company
should be aiming towards.
In some, cases as we anticipated previously
expectations can be conflicting depending
on the stakeholders, so we need to know the
dependencies between stakeholder expectations.
The best way to understand this better is
to dig deeper and develop a deeper understanding
of the processes required to carry out the
company’s business.
Our goal here would be to learn how to translate
business knowledge and goals into business
processes, which will help us develop an understanding
of the underlying dependencies between stakeholders.
An improved understanding of the firm’s
business will also allow us to come up with
more sophisticated, and detailed objectives
and targets, which will finally result in
the introduction of targets of execution per
each process and even sub-processes.
Targets per process and sub-processes are
called metrics.
Metrics will help us track our performance
under different aspects and would enable us
to evaluate whether the execution of a particular
process or sub-process needs to be improved.
It is important to introduce metrics that
are standard for the industry we are operating
in , as this would allow us to compare our
company’s performance against other firms
operating in the same field.
Such a comparison is called benchmarking.
Ok.
Great.
So, basically, we want to map out our company’s
processes from “end-to-end” – every
step of the way.
Starting from the moment when a customer walks
into a store or opens up our website placing
an order till the invoice is paid by that
customer.
While performing end-to-end process mapping,
you will see that many processes sit with
different departments.
Mid and large companies have a sales, manufacuring,
logistics, finance, HR and IT divisions.
In addition, the end-to-end process mapping
exercise, will show that a single process
consists of several sub-processess.
And quite often some of these sub-processes
are carried out by different departments.
Typically , the Operating Model of a company
is organised vertically.
Starting from the firm’s CEO, going down
in hierarchy to the next layers in the organisation.
In some cases, we’ll have Senior Vice Presidents,
then Vice Presidents followed by Directors,
Senior Managers and so on.
We go vertically from CEO to the lowest level
in the organisation.
Looking at a process end-to-end means that
we do not look at the roles and responsibilities
of the CEO and the rest of the organisation,
but we look at a process from the start till
its very end.
When performing end-to-end process mapping,
it is key to highlight the dependencies between
different functions.
Very soon it will become quite clear that
getting everyone on the same page is far from
immediate.
For example, there might be conflicting targets
between departments and certain problems are
going to arise due to organizational complexities
such as conflicting schedules, deadlines,
or activities that simply put, stand in each
other’s way.
The end-to-end mapping exercise is very useful
as it could prevent such conflicts and pre-indicates
the problematic areas of interaction between
departments.
It gives a chances to the heads of these departments
to resolve potential issues beforehand and
act preemptively.
Let’s provide an example.
Think of a company that aims to reduce its
working capital.
Given that working capital is given by the
sum of trade receivables and inventory minus
trade payables, one of the ways to achieve
a working capital reduction, is to collect
money from customers as soon as possible.
This will decrase trade receivables and all
else being equal working capital.
Therefore, the company’s CFO will aim to
have payment terms that require very fast
payments from customers.
However, it is also true that clients have
the same target to optimise their working
capital and therefore try to pay as late as
possible (because the amount they owe you
represents trade payables for them).
Very often payment terms are factored into
the decision whether to buy one company’s
products or another’s.
And the sales team prefers allowing more favorable
payment terms as their end-goal is achieving
higher sales, right?
Hence in our example the company’s sales
department needs to balance between winning
over the customer and the target imposed by
the firm’s CFO of collecting receivables
from customers as quickly as possible.
You will understand that there might be an
animated discussion involving the company’s
CFO and the head of sales.
And without an end-to-end process mapping
this issue would be uncovered only when the
conflict between the two division arises,
which is certainly undesirable and to be avoided.
The first process we will consider is called
‘hire to retire’ and is frequently abbreviated
as ‘H2R.’
As the name suggests this flow sustains all
organizational aspects related to the recruitment
of an employee and comprises the set of procedures
and activities up until the time that the
employee retires.
In this context, retirement means multiple
things.
It can be related to the employee’s age,
resignation, or any other type of situation
in which the person leaves the organization.
Allow us now to describe some of the different
sub-processes hire to retire consists of.
The first sub-process is the hiring stage.
As you can imagine, it is composed of several
activities such as an initial job posting
(which can be done on the firm’s website
or through social media), elaborating responses
to job ads, shortlisting and interviewing
candidates.
Naturally, the hiring sub-process is complete
once a person is hired.
The next sub-process is related to employee
information.
Be it basic information, or quarterly, and
annual reviews, information about the person’s
compensation, performance tracking, holidays,
and so forth.
Once a person starts working for a company,
they need to be onboarded through activities
of induction and on-the-job training, after
which they will be deployed to commence their
duties.
Ideally, the employee’s manager would set
objectives and goals for that person, as well
as manage their training and possibly certifications.
Throughout the different stages of a person’s
career they would understandably expect to
be rewarded and promoted and that is another
part of this sub-process.
Every employee is directly interested in receiving
their salary on time and having their social
securities paid.
The function that takes care of this is payroll
and this is an important sub-process that
is an integral part of the hire to retire
process.
Of course, when a person is about to leave
a firm (‘employee retirement’), the organization
needs to manage a number of activities such
as timely handover, address any remaining
vacation days, final payment check including
non-paid vacation, and, of course, conducting
an exit interview.
What we just saw is that processes are multifaceted
and carried out by different entities in a
single organization.
In the example of the hire to retire process,
the representatives of different divisions
need to be involved at different stages of
the process.
The Global process owner would have to interact
with several divisions: HR, Learning & Development,
Payroll, the functional department where the
employee operates (e.g. Marketing), Finance,
and possibly Auditing.
The next process we will examine is ‘Source
to Pay.'
Remember, these lessons are important as they
will allow you to understand the type of processes
that are taking place in most companies, and
this in turn helps us form useful metrics
and measurement results.
So, reasonably that is the foundation we need
to set before going any further.
We need to grasp the idea of the processes
and sub-processes that are required to carry
out the business, and this knowledge will
help us find the optimal way of tracking the
organization’s performance.
Having said that, we are now ready to examine
the source to pay process.
Remember this is a pretty standard and universal
view of this process.
It is only natural that specific businesses
tailor these processes according to their
needs and the type of business goals they
have set.
For example, we might define source to pay
as the process related to obtaining and managing
raw materials and other supplies that are
necessary for production (when the particular
business is a production company).
Alternatively, for service-oriented businesses,
source to pay can be defined as the process
of obtaining and managing the products needed
for providing the particular type of service
that the company offers.
Source to pay involves the transactional flow
of data that is sent to a supplier as well
as the data that surrounds the fulfillment
of the actual order and payment for the product
or service.
The process goes from point of order to payment.
It involves several sub-processes.
Vendor sourcing – which consists of various
activities – demand planning, supplier negotiations,
selection, and approval of suppliers.
So, this stage more or less helps us understand
how much and from whom we are going to buy.
Then The following stage is procurement.
It requires input from the manufacturing department
in terms of which products will be sold and
therefore have to be produced.
This is linked to establishing the precise
raw materials or ingredients that will be
needed for production, and also the inventory
levels of these ingredients available at the
moment.
Then once we have figured out the firm’s
demand for the specific raw materials or ingredients,
a purchase order is raised and suppliers are
informed about it.
Once suppliers deliver the materials ordered,
the purchase order can be closed.
There is a certain degree of order management
that needs to take place – most organizations
are constantly in touch with their suppliers
and continue to monitor each other’s performance,
as well as the contract that is in place.
Finally, the process ends when we receive
an invoice from suppliers and the invoice
is paid.
‘Record to report’ or abbreviated as ‘R2R’
is the process that provides strategic, financial,
and operational information related to how
a business is performing.
This process involves collecting, transforming
and delivering relevant, timely and accurate
information to stakeholders inside and outside
the organization.
Such reporting provides insight into whether
stakeholder expectations have been met.
Here is how R2R creates useful financial and
operational performance indicators.
It registers actual data into an ERP system.
Within the ERP system we have an existing
architecture of how the firm’s information
is organized.
The actual data that has been provided as
input to the system is organized into sub-ledgers
such as accounts payable, accounts receivable,
inventory, and orders.
Then we group these sub-ledgers into general
ledgers, which allows for the transformation
of the data into meaningful financial indicators.
This is how we obtain some of the most popular
financial reports such as Profit & Loss and
Balance sheets as well as how departments
like Supply Chain prepare scorecards.
Ok, great!
We are almost there in terms of describing
some of the main processes one will see in
a medium and large organization.
The last one we’ll consider is called Order
to cash, or simply abbreviated as O2C.
This is a set of business processes that involve
receiving and fulfilling customer requests
for goods or services.
O2C is the process of obtaining and managing
orders from customers till the customer pays
the outstanding invoices.
The information obtained when an order is
received is provided to the company’s manufacturing
department who are sort of ‘activated’
and learn that there is need for producing
an additional unit of the product the company
offers.
This involves the transactional flow of data
that is sent from a customer as well as the
data that surrounds the fulfilment of the
actual order and receiving payment for the
product or service.
The process can be divided into a few separate
sub-processes.
Starting with the Marketing and Sales departments
who set up the sales strategy and sell our
products.
Pricing can be very complex because of promotions
and discounts.
For example, when a customer orders a big
quantity, the price can be discounted by a
certain percentage, or if the company wants
to promote a certain product it could provide
a price discount.
Managing these marketing agreements with customers,
is a responsibility of the marketing and finance
marketing teams.
Some companies have a direct channel, others
use distributors, and some use both distributors
and a direct channel.
The order fulfilment sub-process ensures we
receive orders and also store contact details
of every customer in a database.
We call this data customer master data.
As soon as we have information regarding the
amount of sales orders that have been made
we need to notify (a firm’s ERP usually
does that automatically) our production team.
In this way, they can forecast demand a bit
better and start manufacturing.
When a customer places an order, the receivables
team is responsible for invoicing them.
That means that they link the order, which
is typically a combination of several products
with the selling price of the products and
the customer detail to raise the invoice.
When the actual product is delivered to the
customer, a financial receivable is created
and the invoice is sent.
The O2C team monitors the outstanding orders
till the payment is made.
As with the other processes we described in
this part of the course, the O2C process requires
the involvement and hard work of several departments
– sales and marketing, supply chain to plan
production, manufacturing to produce products,
logistics to deliver the products, finance
to manage the O2C process and treasury to
manage cash payments.
When thinking about optimal metrics and ways
to improve performance we have to bear in
mind how multifaceted a company’s processes
are.
In conclusion for this chapter, we can say
the following.
Typically, overall end-to-end processes are
broken down into smaller processes, in order
to evaluate sub-processes and activities and
to have metrics per sub-process.
Presumably, you can now understand how leading
companies are organized.
On the one hand, you have departments, like
the sales department or finance department,
whereas on the other hand, you have process
leads.
A Global Process lead is a person who is responsible
for a process that reaches across the entire
organization.
Having Global Process Owners gives the advantage
that there is an alignment between the different
departments about the targets to be achieved.
In the opposite case, if an organization does
not introduce Global Process owners, but instead
creates metrics per each department, we could
end up having conflicting targets and potentially
problematic situations.
In the next section, we will help you to define
the relevant metrics for an organisation and
will start looking into performance measurement
more closely, stepping on the solid foundation
we were able to build here.
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