Saturday , April , 21 , 2018
The Institute Way Blog
One of our clients decided to build their strategy map and balanced scorecard themselves after some training. They created a draft strategy map with 12 strategic objectives, linked together in a cause-effect chain--the strategy map--that showed how value was being created for their customers and the owners of the business. A few months after the training, the number went from 12 objectives to 32. Why? – a lack of discipline around the strategy development process and a feeling by a few folks who did not attend training that “more is better”.
As part of the KPI Basics series of content we are developing as part of the launch of the KPI.org website, I thought I would introduce the different types of key performance indicators. As I describe in the accompanying video, we like to use a framework called the Logic Model to describe the first four types.
Most MBA programs pride themselves as being the ”practical” degree that will best prepare its students for any number of management roles. But it wasn’t until I became a Balanced Scorecard Professional that I learned the following principles that I have found to be key to being a good manager and leader.
We’ve received a lot of interest in our new KPI Certification Program. In fact, one woman said she couldn’t wait until the first scheduled program offering. She also wanted to know if we had a handy list of the most important principles – she wanted a cheat sheet! So in the interest in tiding her (and others) over, below I have compiled a few of the most...
Some of our clients use Franklin Covey’s methods to improve human and organizational performance, including the use of WIGs (Wildly Important Goals). I’ve wrestled with how to integrate Covey’s approach, which is sometimes loosely or creatively applied, into the balanced scorecard framework in a way that is disciplined, consistent, and simple to understand.