Monthly Archives: May 2012

2405, 2012

The myths of KPIs numbers 16 & 17

By |May 24th, 2012|0 Comments

Myth 16: Indicators Are Either Lead (Performance Driver) or Lag (Outcome) Indicators

I have lost count the number of times I read Kaplan and Norton’s original masterpiece “The Balanced Scorecard: Translating Strategy into Action” to try and understand the lead lag indicators argument until I realized my difficulty in understanding lead lag indicators was a result […]

1905, 2012

Giving Recognition Freely

By |May 19th, 2012|0 Comments

Recognition is more important than most of us understand. I believe it is one of the most important driving forces in performance. Yet so many companies, managers, and leaders believe it has to be given sparingly, as if too much recognition would water it down. There appears to be a tax on recognition. McDonalds and […]

1705, 2012

The myths of KPIs numbers 13 to 16

By |May 17th, 2012|0 Comments

Myth #13: Monitoring Monthly Performance Measures Will Improve Performance

Show me a monthly performance measure and I will show you a result indicator, a key result indicator or a performance indicator. It will never be a KPI! How can it be key to your business when you are looking at the measure well after the damage […]

1505, 2012

Communicate the Organization’s Critical Success Factors (CSFs) clearly to the Staff

By |May 15th, 2012|0 Comments

Truly great companies know their critical success factors (CSFs) and communicate these to their staff (Drucker called these key performance areas). Yet many organizations have not distinguished their critical success factors from the myriad success factors. Teams are thus often travelling in a direction very different from the intended path.

As Exhibit 1 shows even though […]

1005, 2012

The myths of KPIs numbers 10 to 12

By |May 10th, 2012|0 Comments

Myth 10: There Are Only Four Balanced Scorecard Perspectives

For almost 20 years the four perspectives listed in Kaplan and Norton’s The Balanced Scorecard: Translating Strategy into Action (Financial, Customer, Internal Process, and Learning and Growth) has been consistently reiterated by them.

I recommend that these four perspectives be increased by the inclusion of two more perspectives […]

1005, 2012

Big Hairy Audacious Goals (BHAGs)

By |May 10th, 2012|0 Comments

BHAGs were first mentioned in Jim Collin’s book “Built to Last”, however it is important to note that Druck, Welch, Hamel and Peters and Waterman are very consistent with this message.

They all agree that incremental improvement will never stretch your thinking. With BHAGs we are asking what would we need to do to achieve this […]