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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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There are three universal truths about traditional performance appraisals. They are widely used, universally despised, and are known to be ineffective.
Story by Christopher D. Lee on October 1, 2020
I have heard around always knowledge workers need special type of attention compare to blue collar jobs.
Story by Chris Shayan on February 9, 2013
Current management structures are bureaucratic and tend to suppress worker participation in decision making.
Hack by IMD Group 13 on November 7, 2011
In a world in a financial crisis it is easy to think about today and not tomorrow.
Barrier by Josse Kunst on April 19, 2010
He lost consciousness twice. Of the first time, he could remember the lightning through the dark clouds. The shudder going through the ship’s hull as it crashed down onto the heavy sea.
Story by Bernhard Sterchi on November 20, 2018
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
Sales commission programs are intended to maximise the revenue generated from sales activity in order maximise company revenues and profits for its stakeholders.  But is it delivering the results
Hack by Andrew Crabb on October 10, 2012
I don't know the answer to either part of this compound question, but I think we have to answer the first part, before we can answer the second part.  To that end I have begun a research project
Hack by Samuel Peffers on January 19, 2013
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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