The performance prism was devised by Cranfield University and is one that considers all organisational stakeholders, without necessarily focusing on one group. The organisation considers the needs and wants from the organisation, and consequently what the organisation needs and wants from stakeholders.
There are five facets to the Performance Prism, namely:
- Stakeholder satisfaction
- Stakeholder contribution
The Performance Prism is distinct from other models in that:
- It is stakeholder driven, and not strategy driven.
- The concept of stakeholders is more inclusive, and does not just consider shareholders and customers
- Success is seen as based on ‘successful’ partnerships and inter-relationships between the organisation and stakeholders
- Measures can be generated and used for all levels within an organisation
When designing the prism, the five facets referred to above prompt specific questions (and answers), namely:
- Stakeholder satisfaction – Who are the key stakeholders, what do they want and need?
- Strategies – What strategies do we need to put in place to satisfy the wants and needs of our key stakeholders?
- Processes – What critical processes do we need to put in place to enable us to execute our strategies?
- Capabilities – What capabilities do we need to put in place to allow us to operate, maintain and enhance our processes?
- Stakeholder contribution – What contributions do we want and need from our stakeholders if we are to maintain and develop these capabilities?