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Member You - Do Your Organisation's Measurements Support Its Goals?
“The only thing that makes life possible is permanent, intolerable uncertainty; not knowing what comes next.” – Ursula K. LeGuin “Uncertainty and mystery are energies of life. Don't let them scare you unduly, for they keep boredom at bay and spark creativity.”- R.I. FitzhenryAbout 8 years ago my life underwent a major transition both personally and professionally. Everything in my life seemed to be in flux. I felt at a crossroads filled with excitement and huge fear. Where was I going? What might happen next? At times, I felt overwhelmed with so many questions and so much uncertainty.One day, while at a low point, I flipped on the TV and caught one of the Public Broadcasting Station fundraising drives. Deepak Chopra was the featured presenter. He was introducing his view about uncertainty. To illustrate his point, he recalled a sto
Further leverage over future results can be gained by managing organisational capabilities since they determine the effectiveness of all future processes in the organisation. To do this requires that measures of these capabilities are tracked.
Example:
An entrepreneurial business school regarded as its main
Discover the pitfalls of owning your own business
BEFORE... [you make a BAD choice!]It's really BIG dollars rather than dimes... at least that's my experience over many years. Thousands can be GONE quickly if you fail to plan and work your plan toward success. That said, the first step - baby size - should be at the 'feet' of one who has been there... done it!!Invincible, right? If anyone can do it, I can!! Looking back over many years - 40 plus - it's written all over the decisions made during my early attempts at starting a new business. Yes, I spent most of my career as an entrepreneur, owning or co-owning a business. Sometimes for the 'right' reasons, at other times it turned 'south' and belly-up.At the time it didn't seem like much... my first venture out of business college. 'Excited' to say the least. 21 years old,
In very general terms, organisations process inputs received from resources into outputs delivered to their stakeholders. For business concerns the inputs are capital, labour, materials and technology. These are converted into products and services for customers and financial returns for investors and other financial stakeholders. Visit the url below for illustration.
http://www.leapfrogalliance.com/ezgrphx/biz.jpg
Systematically Decide What to Measure: The most obvious source of organisational performance measures are the stakeholders.
In staking out a position in the marketplace, responding to competition and the environment, the organisation crafts and attempts to implement a strategy. Thus organisational strategy, missions and goals are another source of performance measures.
The procedure is to determine the critical business issues that are relevant to the satisfaction of stakeholder needs or successful strategy implementation. For these business issues determine the critical success factors. Finally metrics are chosen to measure these factors.
Example:
A mechanic workshop might recognise customer service as a critical business issue. The critical success factors required for this business issue might include prompt attention, accurate diagnosis and repair and proactive service. Specific measures for accurate diagnosis and repair might include first pass yield (i.e. percentage of vehicles diagnosed and repaired "first time right" as opposed to those that have to be returned a second time).
Measures so derived are results based and can be used to report performance, align effort and manage accountabilities.
Internally, the business is organised by function but, as we have repeatedly stressed, carries out the conversion of inputs to outputs (i.e. creates value) through business processes. Since the effectiveness of the processes determine all future results, measures of process effectiveness are required.
Further leverage over future results can be gained by managing organisational capabilities since they determine the effectiveness of all future processes in the organisation. To do this requires that measures of these capabilities are tracked.
Example:
An entrepreneurial business school regarded as its main
A job interview can be an adventure. You have the opportunity to learn about new companies, new positions, and network with new people. The first step is to equalize the power. And that involves an attitude adjustment. The power should be 50-50. The interviewer is sizing you up AND you're sizing up the company. Don't give all the power to the interviewer. You decide if the company meets your criteria. Once you've balanced the power, here are some tips for presenting a positive image:Prepare and rehearse. Anticipate difficult questions and prepare a strategy for answering them. Practice your answers out loud until you feel confident.Know your message. What are your top three strengths, abilities and accomplishments? Know them cold and be able to back them up with examples.Give a firm handshake. This is your first impression. A weak ha
In staking out a position in the marketplace, responding to competition and the environment, the organisation crafts and attempts to implement a strategy. Thus organisational strategy, missions and goals are another source of performance measures.
The procedure is to determine the critical business issues that are relevant to the satisfaction of stakeholder needs or successful strategy implementation. For these business issues determine the critical success factors. Finally metrics are chosen to measure these factors.
Example:
A mechanic workshop might recognise customer service as a critical business issue. The critical success factors required for this business issue might include prompt attention, accurate diagnosis and repair and proactive service. Specific measures for accurate diagnosis and repair might include first pass yield (i.e. percentage of vehicles diagnosed and repaired "first time right" as opposed to those that have to be returned a second time).
Measures so derived are results based and can be used to report performance, align effort and manage accountabilities.
Internally, the business is organised by function but, as we have repeatedly stressed, carries out the conversion of inputs to outputs (i.e. creates value) through business processes. Since the effectiveness of the processes determine all future results, measures of process effectiveness are required.
Further leverage over future results can be gained by managing organisational capabilities since they determine the effectiveness of all future processes in the organisation. To do this requires that measures of these capabilities are tracked.
Example:
An entrepreneurial business school regarded as its main
Have you ever thought that your unconventional way of viewing the workplace tends to create cold sweat down the back of your boss? That is if he is a bureaucrat - a custodian of the status quo! It’s not really old fashioned shoes or light green krimpilene trousers that make your boss’s management style so outdated. It is his closed mindset, which passionately resists change and obsessively treasures policies and procedures. This is fertile breeding ground for complacency and killing creativity in a team!Achieving results are not at the top of the list for your boss. Whipping up a whirlwind of rules and regulations is. He embraces the company’s policy at the expense of everything else. Getting things done with speed and a high sense of urgency doesn’t even make it onto his list. He will rather unleash report-writing mediocrity. Knowingly or unknowi
Example:
A mechanic workshop might recognise customer service as a critical business issue. The critical success factors required for this business issue might include prompt attention, accurate diagnosis and repair and proactive service. Specific measures for accurate diagnosis and repair might include first pass yield (i.e. percentage of vehicles diagnosed and repaired "first time right" as opposed to those that have to be returned a second time).
Measures so derived are results based and can be used to report performance, align effort and manage accountabilities.
Internally, the business is organised by function but, as we have repeatedly stressed, carries out the conversion of inputs to outputs (i.e. creates value) through business processes. Since the effectiveness of the processes determine all future results, measures of process effectiveness are required.
Further leverage over future results can be gained by managing organisational capabilities since they determine the effectiveness of all future processes in the organisation. To do this requires that measures of these capabilities are tracked.
Example:
An entrepreneurial business school regarded as its main
A mechanical contractor is needed for those large scale construction jobs. The right contractor can install heavy mechanical equipment and keep it running properly. Everyone’s equipment needs are different. If you require heavy equipment installation of any kind, a licensed mechanical contractor is an important person to have on your construction team.One of the things a mechanical contractor can do for you is install an HVAC system. Whether you have a residential home or commercial office property, heating and cooling systems are important. The right mechanical contractor can make the job run smoothly for you and make sure your home or office is the perfect temperature all year round.Mechanical contractors also specialize in the more unique large equipment jobs. Maybe you need a conveying system or production line for a large factory. Or m
Measures so derived are results based and can be used to report performance, align effort and manage accountabilities.
Internally, the business is organised by function but, as we have repeatedly stressed, carries out the conversion of inputs to outputs (i.e. creates value) through business processes. Since the effectiveness of the processes determine all future results, measures of process effectiveness are required.
Further leverage over future results can be gained by managing organisational capabilities since they determine the effectiveness of all future processes in the organisation. To do this requires that measures of these capabilities are tracked.
Example:
An entrepreneurial business school regarded as its main
It’s actually very interesting to be with a celebrity endorser for a while at a public place and see if anyone recognizes them, comes up to them just to talk, ask if they are who they think they are, ask for an autograph, or tell them, “I remember when I used to watch you on TV”, etc. This simple little exercise, while never planned, gives us insight into the possible success of the celebrity endorser we are contemplating using and what type of value we might be adding to the company or product.One thing that we have found to be critical is to never ever try and bring a regional celebrity endorser into a market that is too far from that celebrity endorser roots. Don’t try and place a San Francisco person in a New York promotion unless that person is from New York or currently lives in New York. A point of interest here centers on a promotion th
Further leverage over future results can be gained by managing organisational capabilities since they determine the effectiveness of all future processes in the organisation. To do this requires that measures of these capabilities are tracked.
Example:
An entrepreneurial business school regarded as its main result measures the number of its graduates leaving school with a viable business plan and the number that established businesses that survived three years or more. For process measures, the number of open ended case studies solved, number of hours spent on interactive business simulations and number of internships were chosen. Capability measures included the number of active successful entrepreneurs, and board members on the faculty, and the number of businesses with which the school had a close relationship.
Visit the url below to see the image illustrating leverage.
http://www.leapfrogalliance.com/ezgrphx/lev.jpg
Lastly, the organisation must maintain a certain level of environmental awareness to avoid surprise changes that may result in significant negative impacts, or in missed opportunities.
Example:
A bottle making company supplying the brewing and soft drinks sector with returnable packaging materials had been lulled into a false sense of security by consistently good financial results and a high customer satisfaction rating. It came as a shock to the CEO when demand flattened and then declined. If they had had measures for monitoring the external environment they would have noted two worrisome trends that converged to squeeze demand. (A.)The near total adoption among their customers of initiatives like lean, six sigma and TPM that drastically reduced breakages, and (B.) The growing preference for cans and cartons to bottles among their major customers.
Get a Balanced View with a Family of Measures: There is an African proverb which says that you cannot watch a dancing masquerade from one spot. A family of measures reflecting the various areas of organisational performance should be chosen. The balanced scorecard approach advocates measures to track financial performance, customers, internal operations and le
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