Which metrics are used to measure effectiveness, efficiency, and adaptability?
- You have values and goals.…You have some metrics in place.…You probably developed a few metrics…to ensure all of the values and goals were being supported.…Alignment is within reach.…Now the question is: does the company…have metrics to support all three of…the main categories of measurement?…Effectiveness, efficiency, and adaptability.…So look at your list.…My guess is you have quite a few metrics…that measure effectiveness.…
You might even have a few that measure efficiency,…and if you're like lots of other companies,…you're probably a bit thin in adaptability measurement.…Let's take a moment to look at some…very simple examples of metrics in all three categories.…In basketball, we measure effectiveness…with points scored.…Efficiency, we measure with minutes played…and shots taken, and for adaptability,…we can measure how the player did…in home games versus road games,…how the player did versus left-handed players…or right-handed players.…
For a student in school,…effectiveness is measured with grade point average.…
- 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
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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