Denny Weinberg is a veteran business turnaround leader who has served on the boards of numerous startups and Fortune 500 companies. With experience in health, finance, manufacturing and communications, Denny Weinberg is experienced in driving performance improvement and reinventing a troubled or stalled status quo.
Performance improvement consists of systematic evaluation of business activities, strategies and related use of human and other capital to challenge expected and realized output and value, then positively altering processes and approaches to improve and increase value.
Good performance improvement practice therefore encompasses not only the assessment of value, but also the development of ideas to modify or improve value, and then the implementation of driving ideas and approaches.
In assessing value, great companies are objective, specific, and realistic. Company leadership and management clearly understands value objectives, the company’s position in its own markets, the life cycle of those markets, the extent of existing or emerging gaps, consequences of underperformance, and the issues that will lead to improved value.
Great value improvement efforts include documenting underperformance and expectations for improvement. Ideas generate action plans with specific quantifiable objectives, relevant and time bound.
Improvement plans, supported by company stakeholders and initiatives, ensure alignment with overall goals and expectations, and facilitate monitoring and expectation management. Finally, business units and management / staff in the impacted business units manage implementation.
Ongoing follow-up meetings assess the progress of implementation and the plan’s effectiveness.