Improving a Companies Performance with a Simple Feedback System

It is difficult to improve a company’s performance without internal and outside feedback. It doesn’t matter what size the company is from a two man startup to a multi-national public company feedback is the backbone to improvement.

One of the roles of a good founder or managers of a company is to improve performance and to make a difference. Understanding feedback and mastering method of what to do with it is an important part of a company being successful.

Below we have outlined the steps of getting feedback and how to use the feedback to improve performance effectively.

Feedback System:

1.  Define required performance
2. Measure actual performance by getting feedback
3. Compare actual standard against desired standard
4. Identify deviation
5. Analyze cause of deviation
6. Program corrective action
7.  Implement corrections in a timely manner

To make feedback work effectively, these simple tips of getting feedback and analyzing it will help.

1. Listen effectively to feedback without giving an opinion, reason or clarity to the person giving feedback. You will learn more from listening to their reason then explaining why.
2. Understand the objectives and how the company, team, individuals, services or products are to be measured on their success or failure from the feedback
3. Once you get the feedback clarify the overall direction and the strategy of the company to achieve its objectives and improve where the company seemed weak from the feedback.
4. Invest time in developing and agreeing upon objectives and standards or performance with the team and or individuals to achieve better performance moving forward.
5. Concentrate on proprieties of work
6. Ensure the company  and it managers prioritizing objectives and tasks
7. Manage effectively the work within the team to achieve better feedback in the near future.
8. Recognize expertise or successful products and services the companies has from the feedback

With the above simple tips and steps on improving performance of a company and it’s products or services a company get ahead. If you have any further tips regarding feedback please share them with us below in the comment section.