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In our world, there’s no
shortage of data. Instead, our
challenge is creating good
key strategic indicators that
measure both those items that
can easily be counted and the
more intangible items that are
harder to quantify. Establishing
milestones and key indicators,
both tangible and intangible,
that provide valuable insights
into your business, keeps you
on track and moving forward.
The Intangible items that
you’ll want to measure have
probably already been defined
in your vision. These Indicators
are more difficult to ascertain
and measure, yet vital to the
operation of your business,
some examples are:
Customer
satisfaction
and
service
Core values and positive work
environment
Marketplace positioning and
innovation
Here’showtoestablisha tracking
system for those intangibles
:
Create a Scoring System for
Intangible Indicators
along
with a rating sheet. Be objective
in how you rate your intangible
indicators. Specify how you
score each intangible indicator
and identify the ratings you give
to each.
For example, assign a range of
numbersbothpositiveandnegative
for each indicator. Let’s say you are
rating “employee satisfaction” - you
then create a scale that goes from
minus 10 to plus 10 and define best
case (+10) and worst case (-10) and
a fewpointsbetween. For example
the summary definition of various
employee satisfaction points could
go like this:
+10 – Employees love working
here, they feel appreciated and
useful
+5 – Employees enjoy working
here; they often feel appreciated
and useful.
+1 – Employees think working
here is just OK, it’s a job
-5 – Employees dislike working
here; they often feel ignored,
unproductive, andunderutilized.
-10 Employees hate working
here, they feel ignored and
unproductive
Creating A System for Measuring
Intangible Strategic Indicators
By Michael Kaplan
This quote, attributed to Albert Einstein, applies to us today!
Not everything that can be counted,
counts, and not everything that counts,
can be counted
.”
SOAR TO SUCCESS
/
J
uly
2016
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Business Acceleration Strategies