This Just In: Performance Measurement Works
Do management techniques like monitoring performance and setting targets really work? Most managers are convinced, and those who hire them would like to think so. Where's the evidence? The first-of-its kind study by researchers from Stanford, the London School of Economics and the consulting firm McKinsey & Company suggests the answer is yes (see Scott Thrum’s September 8, 2008, Wall Street Journal column “Theory & Practice: The “Same 01” Is Actually Good Enough for Many”). This is good news, especially for performance measurement. Like management in general, performance measurement needs more than anecdote to assure its widespread adoption, especially in the courts community. Unlike management in general, performance measurement and management techniques are not broadly accepted and are still widely viewed as innovative and experimental. The study, including more than 4,600 midsize factories in 12 countries, is based on responses to surveys of plant managers and examinati...