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02 Nov 08

RIP: ROI :: Blog :: Headshift

Because traditional financial accounting measures like ROI give misleading signals about continuous improvement and innovation, more integrated approaches to performance measurement are needed. An obvious candidate here is Kaplan & Norton's Balanced Scorecard (BSC), which assess performance from the perspectives of (i) staff development/learning (ii) internal processes (iii) customer service and satisfaction and (iv) financial effectiveness, efficiency and cash flow.

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Veni Vidi Luxi » Beyond Enterprise 2.0 ROI, evaluation and management of knowledge in the workplace

Excellent, but that is only one part of the job. Now, the prestige we are seeking manifests itself in measurement. Too often social software enthusiasts and evangelists overlook this fundamental aspect (knowingly or otherwise). Where the mindset is fixated on measurement = financial, responsibility will commonly be considered to fall at the feet of management accountants. This is exacerbated because (well before it got momentum behind the firewall) there was a perception that social software is a web thing developed by web people, which puts it outside the remit of ‘accountants’.

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ROi metrics measurement socialsoftware balancedscorecard knowledge knowledgelawyers

Measurement is the translation of an operational function into an economic reality that facilitates monitoring of activities and benchmarking of performance between organisations (and their offerings). That enables businesses to attract and/or inform shareholders who ultimately capitalise the visions and goals outlined in a strategic plan.
Some people may be reluctant to that as they consider reporting a ’sacred cow’. In fact, the measurement of activity divides into contractual and non-contractual measures. Contractual elements are compulsory and objectives as defined a priori, negotiated and accepted: they are normed. This type of measures is used for both internal and external purposes. Non-contractual elements are desirable and subjective (as consensus is specific to the organisation). This type of measure is used for internal purpose, principally for driving the activity.
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- 2. Insertion into official reporting procedures. Some of the metrics I have mentioned below are already used in organisation. But the drawback is the adherence to local reporting. What is required here is the extension of those analytics to organisational reporting. Failure to make this extension into reports that fuel senior management decision making, will at best see the maintenance of the status quo or at worse regression and oversight of key operational issues. That is my experience gained whilst I designed, implemented and managed a sales reporting process in a multinational (world-leading) company. One way to relate knowledge-related analytics (i.e. to enrich organisation-wide reporting) is via the Balanced Score Car

15 May 08

Critical success factor analysis as a tool for strategy execution « Enduragement

This is how it basically goes: Split any of your critical success factor in to three parts: 1) Assets needed to manage the factor, 2) Capabilities - people - needed to execute the factor and 3) Systems (not IT) needed for managing the business process of that particular critical part.

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strategy execution balancedscorecard strategymaps

04 May 08