Tuesday, May 15, 2007

My Company's Future - To Guess...? or To Measure...?

No CEO, however busy, would risk his company's future without measuring its financials - frequently. Knowing that to use the financials alone to judge future performance is like driving a car using only the rear-view mirror.

The smarter CEO measures the KPI's (key performance indicators) as well. Knowing that using these - still trailing but earlier expressions - is no better than driving by looking out the side window. (Many believe this is as good as it gets.)

However, the wise and prudent CEO measures the root causes, the drivers of performance. They predict the future at the very time they are creating it.

  • They can be identified. Easily.
  • They can be measured. Quickly.
  • They can be transformed. Readily.
The Exec Report of the Illinois State Chamber of Commerce, carries a review of an article on the subject of performance prediction. (Click on icon below.) The full article was the lead in the May 2005 edition of The CEO Refresher.



To read the review, click here.



Another article on a similar subject appeared in the journal of the Turnaround Management Association. Titled
The Preemptive Turnaround it was written as a kind of prequel (?) to the Refresher article.
 
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