Developing scorekeeping metrics is a critically important yet undervalued role of the chief financial officer. CFOs ignore this role at their and their organizations’ peril, because if they don’t set the scorekeeping metrics, others will, and will make a mess of it.
It never ceases to amaze me how retailers continually struggle with the concept of customer experience.
My customer experience blunder award for this past holiday season goes to Best Buy for providing a single experience that demonstrated the worst AND best of retailer customer experiences.
So you selected a vendor and conducted an employee engagement study. You even compared the results to the global benchmark and presented the findings to your CEO and his team.
They were all concerned and reiterated the importance of this program and how critical the well-being of employees is to the future of the organization.
The data was shared with all managers, and guidelines as to how to address the gaps were distributed promptly.
And here you are a year later and nothing changed. Nothing significant, at least. Your CEO is not happy and you are about to venture down the same road again.
Well, stop for a moment.
Ask yourself, what went wrong the first time? Even your employee engagement survey company confirmed you were doing all the right things, so why didn’t the needle move?
Both EBITDA and Free Cash Flow are metrics that look “better” than their closest GAAP equivalents because they are calculated by adding back certain expenses and expenditures. For that reason, even if CTCT asserts that these are the most appropriate and valid metrics – a highly arguable assertion, but let’s leave that aside for now – presenting those metrics to the complete exclusion of their GAAP equivalents is certain to raise questions in the minds of some in the audience – questions like, “Why don’t they want us to look at the GAAP numbers?” “Are they hiding something?”
Again I ask: Is the potential benefit of spinning your information worth the potential impact on how you are perceived as a presenter
Remember those family events where the adults sit at one table and discuss grownup subjects, while the kids sit at another table chatting about entirely different things? This is natural. What interests kids and adults are poles apart and, as anyone with teenage kids knows well, the two groups speak a different language. Attempts to get the two groups to share a conversation often fail.
In organizations, cynicism arises amid negligence, and it only takes one cynical employee to ensure cynicism will spread into the […]
But one thing that is certain is that no matter which scenario comes to dominate the retail space, change is on the way, and you are going to have to get closer to your customer. You are going to have to know more about them, their changing buying and channel habits, and the type of shopping experience they prefer. Customer analytics will come to drive your business strategy in recognition of the fact that it has always been the consumer that ultimately decides whether that business strategy is a success or a failure.
In recent posts we’ve seen how tiny changes in the way we present numbers can have a huge impact on how well the information is understood. In this post, we look instead at how those little things can affect how your integrity or your ethics might be perceived.
Even in their most optimistic moments, business and IT executives will confess that there are two things that consistently undermine their […]