Toward the end of the fiscal year, most organizations will set out strategic goals for the following year. Whether that’s sales, performance, customer satisfaction or profitability. But, how do you know if you are reaching those goals? Today, Brad Malone talks about this, on The AV Profession podcast, with Tim Albright.
A lot of organizations have soft goals like, “We’re going to increase sales.”
That’s good, but based on what?
Is it based on revenue?
And how do you keep score towards that goal? Do you measure every day, or every week, to see if you are reaching that goal?
“We’re after the correct measurement vs. measuring,” says Malone. “There needs to be a dashboard, otherwise, how do we prove that we attained our objective?”
How does each person contribute? Is there a mechanism? You need a way to measure each person’s contribution to that score.
For most of us, whatever sport you like, you wouldn’t watch the game if there wasn’t a scoreboard. So there needs to be an end result that we’re after. Then the people that are playing the game need to understand their role in it. A lot of times a company will have a goal, but they aren’t tracing it down to each person in the organization. How does each person contribute to that goal? We often call this cascading metrics.
“A lot of this is people beginning to understand that they can contribute. Show them the score against the game and if the game is reducing extraneous part runs, well how many do we have now? Take score and see what actions to take,” Malone concludes.
This is a guest blog post from our partners at Navigate Management Consulting.
If you would like more information how Navigate can help you achieve better business results you can reach us at: email@example.com
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