As business owners and managers, we all have an idea of where our business is heading. yet we find it difficult to articulate that direction to those we empower to operate our businesses. In fact, one of the greatest issues facing senior management is to effectively communicate the vision of the business to the various team members throughout the organisation.
The importance of getting all team members on the same page cannot be understated. Where staff and business are not aligned, you will find the actions of staff being inconsistent or even contrary to the required direction of the business. This mismatch causes waste, a misallocation of resources, and a struggle to achieve strategic objectives.
This misalignment of strategic and operational resources can drag your business in a direction not aligned to your strategy.
Enter the Balanced Scorecard. A one page real time snap shot of how your business is tracking relative to your strategic intent. Simply determine your critical issues required to achieve your strategic direction, assign Perspectives, Objectives and Metrics, assign accountability of your team members and monitor and manage the outcome. Effective real time data allows you to leverage success and opportunity and react immediately to negative results.
Real time measures mean you no longer need to rely on traditional, historical data to see how you are tracking. Make informed decision as the data unfolds.