What leads to success? Measuring strategies!

Times are changing; people are living longer and companies are fading out quicker. The way we measured corporate and performance prior to 2008 can be quite different from what will be required in 2016 and beyond. And this applies to our personal goals as well. 

Measuring strategies

To come to grips with these facts of life, the reader is invited to contemplate designing new measurements for what will come next in goal achievement. With the right measurements, readers may have the satisfaction of knowing that progress is being made towards a goal. With the wrong measurements, we and management may just end up somewhere else. For example consider the following fields of endeavor: Corporate Management, Workplace and office, Service Sector goals, Manufacturing, Public Sector Performance Criteria, Not-For-Profits, Web-based Performance and Worker Happiness; yes, they can now be measured.

What can I do today in order to be ready for tomorrow and beyond, for myself, my department and my company?

To answer that question think in personal terms of your own job skills, changes in technology affecting your company and your career, cybersecurity, natural resources, stress-test yourself and your company for risk scenarios, be prepared for the unexpected and share your insights and benefit from the collective wisdom of this Bookboon readership.

 
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What if:

• You manage a factory and you are judged by efficiency, that is, produce the most output with the least input, but the stuff actually does not sell well and winds up in a warehouse?
• You schedule large customers first at the expense of many small ones?
• Your company profit-sharing plan can be gamed with measurements and scheduling?
• Your company does not yet capture information that resides in transactions, web blogs and digital information?
• You can’t define how sustainability applies to your company or how social media analysis may help?
• You know increasing capacity is required but you are not clear on the nature of the constraints that hold you back?
• One random natural disaster could possibly wipe your company out if you are not prepared. Would stress testing your firm make you prepared?
• You are asked to do more with less. Would refocusing on the mission statement help?
• You want to empower all employees by increasing their authority and thus reduce oversight cost. Any idea on how to measure that?
• Are your employees as happy with their jobs as can be? There is an index for that!

Then you need to:

1. Start reading the eBook Performance Measurements by Dr. Frank Wolf.
2. Begin contemplating your own situation, offer a commentary in this blog, and receive feedback from other readers that may then lead to learning and a solution for your problem. Good luck, you are not alone!

 
Contact the author Dr. Frank Wolf at wolff@nova.edu

 
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