This video covers searching for misalignment. Determine what is being measured and demanded, and how this impacts behavior.
- You're an online retailer.…You've promised your customers convenience,…security, reliability, and value.…This helps define the organization's goals and values.…Now the question is, what is the organization measuring?…Let's say they're generically measuring customer service,…on-time delivery, sales, products returned,…and the number of returning customers.…Let's try and match those up with our goals and values.…
Customer service, that might be tied…to convenience or maybe value.…On-time delivery matches pretty well…with reliability, I think.…Sales, why do people buy from our company?…Probably because they see value in the purchase,…or perhaps, because they heard we always deliver on time.…And, depending on why customers return products,…products returned could be tied to value,…reliability, or convenience.…
And customers might be returning because they find…the company offers value, reliability and convenience.…As you can see, we have a few problems here.…While some metrics match up well with one particular goal,…
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- Explain why metrics are necessary in business settings.
- Define KPIs.
- Identify the issue of attempting to reach 100% in a given metric.
- Summarize the limitations of metrics.
- Recall the three steps for making a metric understandable for employees.
- Describe the characteristics of an effective metric.
- Compare and contrast the costs and benefits of measuring too many versus too few metrics.
Skill Level Intermediate
Business Analysis Foundations: Fundamentals (2014)with Haydn Thomas2h 13m Intermediate
Balanced Scorecard and Key Performance Indicatorswith Jim Stice1h 17m Intermediate
1. How and Why We Measure
2. Errors and Challenges in Measuring
3. Developing a Good Metric
4. A System of Metrics
5. Performance Measurement Tune-Up
6. Above and Beyond
Next steps1m 57s
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