Time based Key Performance Indicators provide significant insight to how quickly your organization responds to the needs of internal and external customers. They tell a story that every leader needs to pay attention to. Which of the following time based Key Performance Indicators (KPIs) are being tracked in your company?
Recently, I was working with a senior leadership team who was convinced that the key issue in their business was industry knowledge. They were thinking that a lack of industry knowledge was the root cause of their issues in the marketplace. It was difficult to get them to focus on the other issues in their business. While I agree industry knowledge is important, it is only one of the seven business processes every business needs to do well in order to be successful. In this case, the people running the business knew their industry very well, but were lacking knowledge in many other areas. If too much emphasis is placed on one area such as industry knowledge, then the business is likely to realize mediocre results. Businesses need to: (more…)
