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  • Will You Add? - What 'Balanced' Really Means for Measures

    The Way - May Not Be The Only Way
    As an entrepreneur and an innovator in my career I was careful to keep up with all the trade journals in the interrelated industry sectors that I participated in. In fact I would constantly be reading the information from the various industry associations to learn as much as possible. What I found was something very interesting.The industry associations often liked to interview us to see what we were doing and asked us how to do things, or what our secrets were for being so efficient and growing so fast in the marketplace. One thing
    , and you need to track these too!

    Short Term, Medium Term, Long Term

    The Japanese apparently plan with future generations in mind, decades into the future. The Western world considers long term planning to be 5 or maybe 10 years from now, but really only manages within a 12 month timeframe. Better balance will come from sorting which results are day to day, which are month to month, which are year to year, and which are truly longer term. This balance helps put the right measures into the right decision processes.

    Test your strategy for balance before you design measures.

    One of the most frequent reasons (if not the supreme reason) for poorly balanced measures is starting with a poorly designed strategy. If your strategic plan reads like a case study of motherhood statements and management-speak, you

    Utilize the Services of A CFO Advisor to Assist You in Managing the Financial Resources of Your Firm
    Throughout your business lifecycle, your business and management team will face ongoing challenges. Some of these are within your area of expertise and others force you to learn new skills and achieve new insights as a business leader or owner. How well you respond to these business challenges will dictate how well your business performs.For every new business hurdle, a professional, independent CFO Advisor can help you. With a CFO Advisor, practical solutions are developed to take you through the most critical analyses of your prese
    When most of us hear the term 'balanced measures' we see the Balanced Scorecard flash before our eyes. The success of this decade-and-a-half old framework has been both a windfall and a worry. Yes, our mid-1990's fever for good measures that actually measured what mattered was somewhat tempered by Kaplan and Norton's medicine. But it's unprecedented success brought on a new fever: the expectation that a balanced suite of measures is a simple plug-and-play bolt-on to your business' performance scorecard. No thinking required, just grab some KPIs and stick 'em in the right perspective (financial, customers, internal processes or learning and growth).

    Many of the organisations I work with share with me this rationale for seeking help from a performance measure specialist: the Balanced Scorecard hasn't made measurement any easier for us. They aren't using the four original Balanced Scorecard perspectives, and if they are, they aren't really comfortable with the fit to their unique organisation. The natural remedy is to turn our brains back on, and think more deeply about what balance really means to our unique organisation, BEFORE we worry about balanced measures. Here are some prompts that will help you improve the balance in your organisation's overall performance.

    Stakeholder Groups

    How does each stakeholder group with some investment in your organisation define success for your organisation? What's important to your shareholders, regulators, owners, customers, partners, employees, and community, important enough that doing it better would mean they feel your organisation is more successful, and they ramp up their support for it's future success?

    Business Processes

    How you do business is more important that what business you do. Your end-to-end processes impact very significantly on the results your organisation gets through their very design. What are the impacts of service delivery, research and development, marketing and sales, procurement, and other essential business processes on your overall organisational success? Ignoring any of the important processes is balance-heresy, and makes it too easy for parts to succeed at the expense of the whole organisation.

    Strategic, Tactical and Operational

    You don't have one scorecard, a single basket of measures. If any one person in the organisation wants to know all the measures throughout the organisation, they are micro-managing and thus mis-managing. Which results are strategic, which are tactical, which are operational? Better balance comes hence when there is a logical cause-effect relationship between these layers of results (and thus their measures). This balance does wonders for throwing resources at the right initiatives for success.

    Lead Versus Lag

    If you're like me, you are completely over hearing the "driving a car by looking in the rear vision mirror" metaphor for managing organisational performance with lag measures. But it's still a good point. Which results are the end products or ultimate outcomes for your organisation? Measures of these are your lag measures, and it's still important to track them. Which results offer clues about what those end products or ultimate outcomes might look like in the future, based on how things are now? Measures of these are your lead measures, and you need to track these too!

    Short Term, Medium Term, Long Term

    The Japanese apparently plan with future generations in mind, decades into the future. The Western world considers long term planning to be 5 or maybe 10 years from now, but really only manages within a 12 month timeframe. Better balance will come from sorting which results are day to day, which are month to month, which are year to year, and which are truly longer term. This balance helps put the right measures into the right decision processes.

    Test your strategy for balance before you design measures.

    One of the most frequent reasons (if not the supreme reason) for poorly balanced measures is starting with a poorly designed strategy. If your strategic plan reads like a case study of motherhood statements and management-speak, you'

    What is a Criminal Background Check?
    Sadly, in the world that we live in, there are some people that will lie and cheat in order to get something that they want. In order to find out the truth about a person’s history, their background and whether they have a criminal history, many people use a background check.A criminal background check is a complete search of a person’s history. Many employers use a criminal background check on their employees to make sure that they know who it is they are hiring, as well as gauge how truthful, and trust worthy a person is, before hir
    easier for us. They aren't using the four original Balanced Scorecard perspectives, and if they are, they aren't really comfortable with the fit to their unique organisation. The natural remedy is to turn our brains back on, and think more deeply about what balance really means to our unique organisation, BEFORE we worry about balanced measures. Here are some prompts that will help you improve the balance in your organisation's overall performance.

    Stakeholder Groups

    How does each stakeholder group with some investment in your organisation define success for your organisation? What's important to your shareholders, regulators, owners, customers, partners, employees, and community, important enough that doing it better would mean they feel your organisation is more successful, and they ramp up their support for it's future success?

    Business Processes

    How you do business is more important that what business you do. Your end-to-end processes impact very significantly on the results your organisation gets through their very design. What are the impacts of service delivery, research and development, marketing and sales, procurement, and other essential business processes on your overall organisational success? Ignoring any of the important processes is balance-heresy, and makes it too easy for parts to succeed at the expense of the whole organisation.

    Strategic, Tactical and Operational

    You don't have one scorecard, a single basket of measures. If any one person in the organisation wants to know all the measures throughout the organisation, they are micro-managing and thus mis-managing. Which results are strategic, which are tactical, which are operational? Better balance comes hence when there is a logical cause-effect relationship between these layers of results (and thus their measures). This balance does wonders for throwing resources at the right initiatives for success.

    Lead Versus Lag

    If you're like me, you are completely over hearing the "driving a car by looking in the rear vision mirror" metaphor for managing organisational performance with lag measures. But it's still a good point. Which results are the end products or ultimate outcomes for your organisation? Measures of these are your lag measures, and it's still important to track them. Which results offer clues about what those end products or ultimate outcomes might look like in the future, based on how things are now? Measures of these are your lead measures, and you need to track these too!

    Short Term, Medium Term, Long Term

    The Japanese apparently plan with future generations in mind, decades into the future. The Western world considers long term planning to be 5 or maybe 10 years from now, but really only manages within a 12 month timeframe. Better balance will come from sorting which results are day to day, which are month to month, which are year to year, and which are truly longer term. This balance helps put the right measures into the right decision processes.

    Test your strategy for balance before you design measures.

    One of the most frequent reasons (if not the supreme reason) for poorly balanced measures is starting with a poorly designed strategy. If your strategic plan reads like a case study of motherhood statements and management-speak, you

    Outsourced Payroll Results in Fewer Tax Penalties, Study Finds
    A new study reveals that outsourcing payroll functions reduces payroll tax penalties. The study, conducted by Empagio Human Resources Outsourcing, was conducted online during the month of September 2006. 209 financial and human resource executives participated in the study. The titles of these people ranged from CEO, CFO, president, vice-president, director, and manager. The results of the study did not reveal the sizes of the companies represented.Reduced Dollars Spent on Penalties72% of those participating in the study
    's future success?

    Business Processes

    How you do business is more important that what business you do. Your end-to-end processes impact very significantly on the results your organisation gets through their very design. What are the impacts of service delivery, research and development, marketing and sales, procurement, and other essential business processes on your overall organisational success? Ignoring any of the important processes is balance-heresy, and makes it too easy for parts to succeed at the expense of the whole organisation.

    Strategic, Tactical and Operational

    You don't have one scorecard, a single basket of measures. If any one person in the organisation wants to know all the measures throughout the organisation, they are micro-managing and thus mis-managing. Which results are strategic, which are tactical, which are operational? Better balance comes hence when there is a logical cause-effect relationship between these layers of results (and thus their measures). This balance does wonders for throwing resources at the right initiatives for success.

    Lead Versus Lag

    If you're like me, you are completely over hearing the "driving a car by looking in the rear vision mirror" metaphor for managing organisational performance with lag measures. But it's still a good point. Which results are the end products or ultimate outcomes for your organisation? Measures of these are your lag measures, and it's still important to track them. Which results offer clues about what those end products or ultimate outcomes might look like in the future, based on how things are now? Measures of these are your lead measures, and you need to track these too!

    Short Term, Medium Term, Long Term

    The Japanese apparently plan with future generations in mind, decades into the future. The Western world considers long term planning to be 5 or maybe 10 years from now, but really only manages within a 12 month timeframe. Better balance will come from sorting which results are day to day, which are month to month, which are year to year, and which are truly longer term. This balance helps put the right measures into the right decision processes.

    Test your strategy for balance before you design measures.

    One of the most frequent reasons (if not the supreme reason) for poorly balanced measures is starting with a poorly designed strategy. If your strategic plan reads like a case study of motherhood statements and management-speak, you

    Essentials to Customer Loyalty
    Every business, whether online or offline, needs customer loyalty in order to be established for the line of work it is trying to be known for. All businesses work hard not just to get a good impression but to make a lasting one of reliability and value that makes them acquire the hard-earned customer loyalty. Especially with industries that are mainly service oriented, having customer loyalty is synonymous to bigger earnings and more opportunities to grow. There are different essential that can pave the road to customer loyalty for business
    which are tactical, which are operational? Better balance comes hence when there is a logical cause-effect relationship between these layers of results (and thus their measures). This balance does wonders for throwing resources at the right initiatives for success.

    Lead Versus Lag

    If you're like me, you are completely over hearing the "driving a car by looking in the rear vision mirror" metaphor for managing organisational performance with lag measures. But it's still a good point. Which results are the end products or ultimate outcomes for your organisation? Measures of these are your lag measures, and it's still important to track them. Which results offer clues about what those end products or ultimate outcomes might look like in the future, based on how things are now? Measures of these are your lead measures, and you need to track these too!

    Short Term, Medium Term, Long Term

    The Japanese apparently plan with future generations in mind, decades into the future. The Western world considers long term planning to be 5 or maybe 10 years from now, but really only manages within a 12 month timeframe. Better balance will come from sorting which results are day to day, which are month to month, which are year to year, and which are truly longer term. This balance helps put the right measures into the right decision processes.

    Test your strategy for balance before you design measures.

    One of the most frequent reasons (if not the supreme reason) for poorly balanced measures is starting with a poorly designed strategy. If your strategic plan reads like a case study of motherhood statements and management-speak, you

    How to Improve the Management Teams Wins for Winning More Business Part 2: Focus on People Skills
    Over 70 years ago, Napoleon Hill realized that success for businesses comes from the people within those organizations. However, many organizations still fail to grasp this realization because soft or people skills still are viewed as secondary to job specific skills.One of the executive coaching activities that I employ when working organizations through a change management process is to ask these three questions and listen to the responses: When a person is promoted here at XYZ Company, it is usually because o
    , and you need to track these too!

    Short Term, Medium Term, Long Term

    The Japanese apparently plan with future generations in mind, decades into the future. The Western world considers long term planning to be 5 or maybe 10 years from now, but really only manages within a 12 month timeframe. Better balance will come from sorting which results are day to day, which are month to month, which are year to year, and which are truly longer term. This balance helps put the right measures into the right decision processes.

    Test your strategy for balance before you design measures.

    One of the most frequent reasons (if not the supreme reason) for poorly balanced measures is starting with a poorly designed strategy. If your strategic plan reads like a case study of motherhood statements and management-speak, you're in trouble. Tease out the results you understand this strategy to be implying (dig deeper behind the jargon) and examine those results for balance using the above prompts to get you started.

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