A KPI overview helps the managers execute Lundbeck’s strategy with the necessary impact and speed – and more importantly, in the right order.
Together with one of Valcon’s performance management experts, Lundbeck’s corporate secretary and project office identified the most representative KPIs, and made sure that data gathering and reporting would be smooth, efficient, and fully operational. The objective was to make essential information readily and quickly available to the corporate management group.
Specific tools to ensure overview of key figures and KPI definitions were developed, and so was a governance process to ensure that the KPI cockpit operated with speed and efficiency.
To Lundbeck’s management group, implementation of the KPI cockpit means that they can operate with greater confidence when they strive to meet the overall strategic objectives, and the overall structure makes sure that critical areas are monitored regularly. It is now obvious to everyone what is supposed to happen, and this has triggered a more result-oriented culture in the management group.
… The KPI overview has also created an alignment in the management group and helps as a tool to set the short-term objectives that are important to secure long-term growth for Lundbeck.Anders Götzsche Executive Vice President and CFO, Lundbeck
Correct prioritisation and fast corrective decision-making
Alignment in the management group
New ability to set short-term objectives that are important for long-term growth