1. Runninga BusinessbyMetrics
Many businesses were knowntomanage theiractivitiesbymetrics (MBO). Metricsare a measurement
of the effectivitytoyourstrategicplan. They are a tool and not the driverto how to execute adaily
businessmodel. Metricsare useful indetermining yourwhetheryourstrategicplanisworkingbut
businesspracticesshouldnotchange dailyorweeklytocompensate formetricimprovement. We all
knowthat metricsare reviewedanddemandsare floweddownto improve certainelementsbutwe
cannot notfall preyto changingour mode of operationandvaryfrom our strategic plan. If metrics
indicate thatour planisnot executingproperlyorwas mis-definedduringplandevelopment,thenwe
may needtore-groupandrevise ourplan. However,strategicplansare derivedviamultiple
perspectives andwithconcurrence of ourleadershipteam.Itisunlikelythatthe planistotallyflawed
but a redirection afterrepeatingresultsdon’tmeetourexpectationsmaybe necessary.
Don’toverreact to short termmisses. There are times youmuststay the course to redevelopyour
businesseventhoughmetricsmaystate otherwise. Drill downintothe dataandif the metricsvalidate
that the longterm improvementsandenhancements are beingmet,continue the path. Itmayindicate
that the risksassociatedwiththe planwere notrealizedatits conception andthe nexttime you
formulate youryearlyplanyouwill nowunderstandsome of the unrealizedimpacts. Staythe course if
the planis executingproperly. While the worldseemstorecognize shorttime goal attainmentheavily,
youmust drive the businesstonewlevelsbystepchangesandinthe longtermyouwill succeed.