In today’s fast-changing business environment, having both “lagging” and “leading” KPIs is important.
If you wrote the draft e-mail below, would you be bold enough to hit “Send”?
What Drives Your Retail Customer?
Iit is not enough to know the key drivers; you should also find out the factors within those drivers that are key.
Self-help books and newspaper advice columns, such as the famous Ann Landers column, are prevalent for issues involving relationships, money, or etiquette. What if there were an advice column for CEOs?
Have you ever worked for an organization where you doubted the leadership capability of your CEO, managing director, division president, or agency head?
Accounting does not show how value is created….
Just imagine you put some KPIs in place and instead of measuring and improving performance, they lead to the opposite: A mindless chasing of numbers, resulting in reduced performance.
Finance can be far more dangerous than poor quality because scrap, rework and customer returns all make themselves known very quickly. Financial performance metrics that drive dysfunctional operational behavior are, on the other hand, the elephant on the shop floor that simply does not go away.
In the Wizard of Oz, Dorothy expresses her fear of lions and tigers and bears. Some of us who head to work each morning have a fear of performance-management-buzzword animals like BSC - Balanced Scorecard, KPIs - Key Performance Indicators, and OKRs - Objectives and Key Results.
What are the key questions that an executive team should consider if they want to assess how they might manage the business strategy and their organization’s execution capability gaps.