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Develop holistic performance measures

“We need new measurement systems that capture the things that really create value.”

A shortlist of the limitations of traditional measurement systems:

(1) they’re lopsided, in that they overweight the achievement of certain outcomes (e.g. short-term earnings), while under-weighting the achievement of others (e.g. building new growth platforms);

(2) they take insufficient account of critical externalities (e.g. the environmental and social costs of corporate policies);

(3) they give inadequate attention to the things that drive success in the “creative economy,” (e.g., the value of customer-authored innovation).

Organizations will need to create holistic measurement systems that capture the many, interrelated variables that drive success.

34 Stories
88 Hacks
4 Barriers

Develop holistic performance measures

“We need new measurement systems that capture the things that really create value.”

A shortlist of the limitations of traditional measurement systems:

(1) they’re lopsided, in that they overweight the achievement of certain outcomes (e.g. short-term earnings), while under-weighting the achievement of others (e.g. building new growth platforms);

(2) they take insufficient account of critical externalities (e.g. the environmental and social costs of corporate policies);

(3) they give inadequate attention to the things that drive success in the “creative economy,” (e.g., the value of customer-authored innovation).

Organizations will need to create holistic measurement systems that capture the many, interrelated variables that drive success.

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I think a generally underappreciated (even when it's explicitly discussed), but highly influential factor in any workplace is the power of metrics.
Hack by Sean Schofield on May 31, 2011
In a taxonomically organized world human resources are managed with structured approach: organizational graph, job role, job description, hierarchical or functional controls.In every day activity peop
Hack by Luca Grivet Foiaia on May 31, 2011
When we rate in status quo hierarchies - (What's best and what's worse?) we pretend one whole is superior to another and before seeing novel possibilities of either, we stack
Hack by Ellen Weber on May 26, 2011
In emerging markets, the lack of talent forces HR dept to concentrate more on recruiting more people rather than devising strategies towards retaining the existing employees.
Hack by Gaurav Varma on March 20, 2011
Cost Accounting chokes business by focusing on parts rather than the relationship between parts. As the primary feedback mechanism for business and organizations it leads to bad decisions.
Hack by Dan Strongin on March 19, 2011
With globalization and technology, skills become obsolete rapidly. The traditional approach of performing specialist work is less effective.
Decision makers change organizations from time to time.Organizations come and go.Instead of measuring whole organizations, measure the impact of the decision makers.
Hack by David Rader on March 14, 2011
To be innovative, a company needs to understand how it can take what it already does and do that better.
Hack by Ryan Thorpe on March 11, 2011
Both economic thought and management practice are based on the so-called free market economy or competitive markets and all measures of performance or success are always relative.To get out of this "c
Hack by Srinivasan Abhinavam on February 9, 2011

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