Thursday , February , 22 , 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”.
Over the last 10 years we have seen a tremendous change in the healthcare industry. Whether it is a shift in philosophy to focus on more value-based care or navigating the impact of implementing the Affordable Care Act here in the United States, significant shifts and changes have occurred and are occurring every day. Given the relative unpredictability of how...
Let’s say our organization needs to buy a fleet of vehicles and we have two procurement teams. We tell team 1 that we want quiet, blue, four-door, fuel-efficient cars. We tell team 2 that we want world-class, high-quality, great-value, high-performing cars. Then we give both teams a few weeks to find their vehicles. Guess which team will be able to produce measurable...
Complacency is a big reason why useless KPIs stay. A sense of urgency is what’s needed to spark the change to better KPIs. But it must be authentic, and speak to the head and the heart.
KPIs have a bad reputation, from bad pasts experiences people have with them. But we can’t let their reputation become the truth about them.