If you have ever taken a marketing class you probably learned about the 4 P’s or “the marketing mix” as it is also known. There are also 4 P’s of Performance – four critical areas you must pay attention to as a manager or leader if you want your team to perform up to its full potential. These 4 P’s can even be applied to your personal life.
The 4 P’s of Performance are:
- Priorities
- People
- Processes
- Practices
Let’s take a look at each of these.
Priorities
When I work with business owners, managers and leaders in businesses of all sizes, I almost always find a common denominator – too many priorities or constantly shifting priorities. Imagine that you were going to plant a garden. Someone gave you 100 plants. You can plant all 100 of the plants but you only have enough water to water them once. Or you can plant 10 of the plants and water them 10 times. Which approach is most likely to result in the largest crop production?
In the book, The Four Disciplines of Execution, the authors, Covey, McChesney, and Huling contend that by focusing on only one or two priorities at a time, your rate of successful implementation will increase exponentially. This is the reason that choosing a theme or focus for the year (or at least the quarter) can be so effective.
The question to ask is: What is the one thing that we must accomplish to achieve our goals or realize our vision? Continue to ask this question until you drill down to one to three very specific actions that you can take right now.
People
If you are going to realize your vision – personal or professional – you typically are not going to be able to do it in a vacuum. The best way to achieve your goals is to align them with the goals of others so you are working together towards a common purpose.
Processes
Good systems and processes support people in doing their jobs consistently, effectively, and with minimum struggle and strife. Processes alleviate duplicate effort, wasted time and dropped balls. If you and your team are struggling with identifying, defining, and implementing effective processes, I encourage you to check out www.mycooresources.com.
Practices
Practices are about establishing a culture that supports you and your team in achieving the goals you have set. This requires an environment of trust where people feel psychologically safe so people can fully use their creative, innovative, problem solving skills. A study by Google dubbed “Project Aristotle” found that psychological safety is the single most important element to successful teams. And achieving psychological safety requires cultural norms that encourage people to express their opinions and feelings; ask questions; and respectfully disagree with the status quo.
Would you like to explore more ways to develop the four P’s of Performance within your team and organization so you can optimize performance?
I welcome the opportunity to talk with you and explore how our Five Point Performance Optimization Program might be a fit for you and your team. Call me at 972-701-9311 or email me at jchance@action-strategies.comtoday. I look forward to chatting with you.
Want more tips and resources to help you dissolve barriers to business success by unlocking the potential of your people and harnessing the power of teamwork?
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FAQs
With these management tools providing input in real time, organizations can quickly adjust course as circ*mstances present new opportunities or threats. A simple model made up of “Four Ps” can help companies create this advantage. These Ps are Perceptions, Performance, Purpose, and Process.
What are the 4 Ps of strategy? ›
With these management tools providing input in real time, organizations can quickly adjust course as circ*mstances present new opportunities or threats. A simple model made up of “Four Ps” can help companies create this advantage. These Ps are Perceptions, Performance, Purpose, and Process.
What are the 4 Ps of strategy service strategy? ›
This blog is all about the 4 Ps of service strategy: perspective, position, plan, and pattern, and how they can help your company deliver the best IT services on the market.
What are the 4 Ps of design? ›
The 4 Ps of Service Design. In ITIL v3 we were introduced to the 4 Ps of Service Design: People, Process, Products (services, technology and tools) and Partners (suppliers, manufacturers and vendors).
What do the 4 Ps stand for? ›
The four Ps are a “marketing mix” comprised of four key elements—product, price, place, and promotion—used when marketing a product or service. Typically, successful marketers and businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.
What is 4 Ps in management? ›
While Change management involves distinct individuals and roles, Transition management requires teams and staff to grasp and derive value from the 4 Ps: Purpose, Picture, Plan, and Part. Change is a business's perpetual companion. It's unavoidable and essential for corporate evolution and expansion.
What are the 4 Ps operations? ›
This framework comprises four critical areas: People, Performance, Processes, and Projects.
What are the P's of strategy? ›
But fear not, as Henry Mintzberg has developed a powerful framework for developing successful strategies. Drawing inspiration from the Five Wizards, Mintzberg's 5 Ps of Strategy - Plan, Ploy, Pattern, Position, and Perspective - provide different paths to achieving strategic victory.
What is the 4 Ps strategy framework also called? ›
Also referred to as the marketing mix, the four Ps of marketing are product, price, place, and promotion. The 4 Ps of the marketing mix are important because they help you establish the framework for your marketing strategy.
What are the 4 principles of strategy? ›
In our experience it's a focus on four key principles: Developing a plan and then sticking to it. Relentless focus on driving business value through benefits realisation. Leadership involvement and communication.
The four “Ps” of case formulation (predisposing, precipitating, perpetuating, and protective factors) also provide a useful framework for organizing the factors that may contribute to the development of anticipatory distress (Barker, 1988; Carr, 1999; Winters, Hanson, & Stoyanova, 2007).
What are the four 4 elements of design? ›
Line, shape, color, texture, and space are the basic elements of design.
What is strategy 4 Ps? ›
The four Ps of marketing is a marketing concept that summarizes the four key factors of any marketing strategy. The four Ps are: product, price, place, and promotion.
What do the 4 Ps mean? ›
The four Ps are the four essential factors involved in marketing a product or service to the public. The four Ps are product, price, place, and promotion. The concept of the four Ps has been around since the 1950s.
What are the 4 Ps of success? ›
Everybody aspires to be successful in life. But success comes to those who have a proper purpose, planning, perseverance and passion. This 4Ps plays a key role to succeed.
What are the 4 Ps reading strategy? ›
To master pre-reading, remember the 4-Ps: Preview, Predict, Prior Knowledge, and Purpose [1,2].
What are the 4S of strategy? ›
4S Framework: State, Structure, Solve, Sell.
What are the 4 Ps of tactics? ›
A careful analysis of these four factors—product, price, place, and promotion—helps a marketing professional devise a strategy that successfully introduces or reintroduces a product to the public.
