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    Strategy and performance management at DSM

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    Author
    Haspeslagh, Philippe
    Slagmulder, Regine
    Bloemhof, M.
    Publication Year
    2004
    
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    Abstract
    The case describes the strategic planning process and performance management system implemented at DSM, a global chemical company. In particular, it describes how the company's value based business steering system is designed to create alignment between strategy formulation and execution through strategic value contracts. The case illustrates the performance management process in action at one of the business groups. It highlights managers' dilemma between continuing to pursue the current business strategy which is in line with corporate strategy, versus responding to the financial pressures exerted by the new value based management approach which would require a radical change in strategy. The case allows students to discuss the various elements of DSM's value based management (VBM)-inspired strategy and performance management processes, and how they impact one of the business groups' efforts to improve performance. The class can analyse the strengths and weaknesses of the company's approach to aligning its strategic planning and financial management processes by introducing strategic value contracts. Finally, the case shows how DSM distinguishes between performance indicators to monitor strategy implementation, and value drivers to measure economic value creation.
    Keyword
    Management Accounting & Control
    Knowledge Domain/Industry
    Accounting & Finance
    Strategy
    URI
    http://hdl.handle.net/20.500.12127/2678
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