3 Steps to Measure Implementation for Leaders
1. Introducing Strategy Maps and the Balanced Scorecard
The Balanced Scorecard (BSC) has helped individuals in organizations understand the importance of strategic objectives and lead and lag indicators as well as tracking more than financials (a lag indicator of performance) to include such indicators as Customer, Process and Learning & Growth.
2. Identifying the Right Measures
Creating a Scorecard is not simply a task of identifying the measures that will track the implementation performance. It is a powerful methodology that can unite the leadership team, create a deeper understanding of how the strategy affects the business and provide a management system.
3. Guiding the Implementation
Once the right measures are in place, they will guide leaders in managing the business. The difference between measuring the business and managing is using measures to drive decisions that guide the implementation. By regularly reviewing the measures that track the implementation, leaders make small changes along the way that keep it on track. During your discussions, the changes may not appear overly significant, but the value of regularly reviewing your progress and making the right adjustments cannot be stressed too much.
More about Measure
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1. Translate your strategy into objectives
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