From the course: Leading with Purpose
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Metrics vs. mediocrity
- "If you can't measure it, you can't manage it." It's a famous quote touted by CEO after CEO. It's from Edward Deming, the scholar who transformed the auto industry. But as a stand-alone, it's actually a misquote. What Deming really said was, "It is wrong to suppose that if you can't measure it, "you can't manage it." It's a costly myth. So why does everyone misquote it? Because managing to metrics like revenue, profit, and productivity and the like, those are easy. It's cut and dry. It's seemingly inarguable. But it's also a cop-out. You see, it causes a few major problems. First, most quantitative metrics are backward looking. Revenue and profit are a measure of how well you performed last year or last quarter. They're lagging indicators. Second, these metrics don't tell the full story. See, profitability is impacted by your sales reps' ability to establish value, by marketing's ability to reach the right customers at the right time, the operation's ability to support the business…
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