April 30, 2015
Business Chops Hot Tip #4: What's On Your Dashboard?
It's true that what gets measured gets done. Being able to quantify goals and objectives is a step toward making them realistic and achievable. Good firms have financial metrics and goals. Great companies also have non-financial goals that they quantify and track. But having detailed, multi-faceted metrics doesn't alone insure enterprise-wide management focus. In the best firms, these strategic and tactical goals are front-and-center throughout the organization. How? It's the companies that condense key metrics into a dashboard that's viewable and sharable on a frequent basis that are better poised to steer the company to its goals.
Hot tip: Design a dashboard of key metrics to track ongoing without the need for complex digging, mining, and analysis. Keep an eye trained on your dashboard of salient metrics.
Stiernberg Consulting provides strategic and tactical business planning services for manufacturers, and other companies in the audio-video, music products, entertainment technology industries.