The 3 Truths: Why Every Organization Needs A Scorecard
Does this sound familiar? “We’ve tried to set up a Scorecard in the past, but with limited team resources and a growing list of projects we had to push that aside”?
It seems at the beginning of each fiscal year, setting up a scorecard is a top priority, however, between getting new projects rolling and dealing with everyday business proceedings, the Scorecard always gets pushed aside.
An incomplete or inaccurate scorecard leads to poor strategy alignment and missed opportunists. However, setting up a scorecard can be achieved and in a reasonable timeframe- and the truth of a scorecard is, taking the time and effort is incredibly advantageous:
Truth 1: Business is too complicated not to be orderly
With limited resources and a confined number of hours in a day, your team needs to not only work hard but also smart. With a Scorecard, Management can easily lay out a clear picture, throughout the organization, that outlines which products and activities will drive sales each fiscal year and determine which objectives and processes need to be put into place to achieve their goals.
Truth 2: That which gets measured, gets done
A Scorecard that is set up correctly will accurately measure your current performance against your projections and goals, allowing you to lead your team to strive a little harder and allowing you to reward their efforts.
Truth 3: Yesterdays home runs don’t win today’s games
Experience only gets you so far with your decisions- to stay ahead of your competition you need to utilize all of your available tools, especially your data. Indicators and alerts allow you to see trends while they are still developing. So you can act, not react, while KPI’s keep you focused where it counts.
Don’t let setting up your scorecard get pushed aside any longer-take the first steps into gaining valuable insights.