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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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The cure for capitalism is more capitalism. Actual control system provides all-or-nothing instruments that prove to be insufficiently rough.
Hack by Justare Alman on May 4, 2012
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
Extend "first right of refusal" to customers to own the company's stock, whenever there is a need for new/ additional external investment.
Hack by Niranjan Rao on May 10, 2012
The world of management is full of myths and rituals. Many seem to have been with us forever, often explained and justified as “we have always done it like this”.
Hack by Bjarte Bogsnes on January 23, 2017
The Connected Intelligence Operating System formally elevates employees Knowledge, Decisions and Insights to essential work products. 1.
Hack by Vasu Srinivasan on June 24, 2011
It's too easy to be a bad manager.
Hack by Adam Schorr on June 29, 2011
Current management structures are bureaucratic and tend to suppress worker participation in decision making.
Hack by IMD Group 13 on November 7, 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
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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