Business Strategy Navigation 2009 - Part 7

July 30, 2009

Welcome Back. We've got lots of in depth business strategy to share with you today.

 You Can’t Manage What You Can’t Measure

Management, by definition, requires intimate knowledge of what is being managed. And business knowledge depends on measurement. Good Strategic execution plans encourage and demand constant measurement of progress toward each initiative and objective. This measurement occurs via both internal and external feedback. Each consists of hard-and-fast performance measures (financial growth, percent customer retention) in key strategic areas, as well as qualitative responses to the changes taking place. The mechanism of measurement encourages adaptability: external feedback notifies managers of relevant (and sometimes urgent) changes in the environment, while internal feedback efficiently integrates employee innovation and input.  

I’d like to hear from you on 2 measurements.  1. What are some of the metrics you use in your business?  2.  How are we measuring up with the information we are providing here at BobJonas.com?  Please let us know.

Tomorrow we will wrap up with Business Strategy Navgation as we take a look at “The Problem of Strategy.”

Strategically Yours,
Bob

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Posted by Bob Jonas | Filed Under Business Strategy, Corporate Strategy, Strategic Planning, Trends Analysis 

Comments

One Response to “Business Strategy Navigation 2009 - Part 7”

  1. Business Strategy Navigation 2009 - Part 6 : BobJonas.com on September 10th, 2009 1:31 pm

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