Finding the Right Performance Measures Simplifies Strategic Planning
A strategic plan is useless if it does not lead to strategic thinking and strategic acting. Developing a strategic plan under such circumstances is wasted effort. The process and steps of identifying desired performance measures serve as a simplified and, in many ways, a superior approach to strategic planning. Because they are unambiguous and actionable, effective performance measures provide a more direct path to strategic thinking and acting than formal strategic planning. A focus on finding the right performance measures also side-steps many of the processes and exercises that engage busy managers (often for lengthy periods of time) – visioning, SWOT analysis, and identifying cognitive styles – but have questionable practical value for making better current decisions. Plumb the Meaning of Life or Watch Your Cholesterol Suppose you’re a 50 year old who is taking stock of your life. You’re ready to tackle important issues like personal health, family, and work. Because you’re a ...