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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
President Roosevelt mantra was “if you have consensus on a major decision don’t make the decision because the homework has not been done.” Drucker said that that there should be conflicting views and these should be evaluated before a decision was made.
Jack Welch would throw everything he could to challenge any new idea making sure […]
Great leaders are able to manage their emotions and avoid emotional outbursts that could damage relationships with their staff. Shackleton was the master of conflict resolution: He avoided emotional outbursts. He would gently point out the reason why it should be done a different way. He would only tell staff off in private and when […]
Shackleton understanding of psychology played a big part in saving the lives of his team. He appreciated the importance of understanding the team’s physical as well as psychological needs.
On the hike over the mountains of South Georgia, his two team members wanted to rest. Shackleton knew that this would be the end of them and […]
Jack Welch puts celebrations in his top eight traits of a leader, that is how important it is. As he says “Work is too much a part of life not to recognize moments of achievement. Grab as many celebrations as you can. Make a big deal out of them.” Welch was all about making business […]