Paying attention to all of the things all of the time requires help. Effective and well thought out indicators are the key to handling more than seems possible and they come in many forms both analytical and ethereal.
Principles for establishing indicators and targets
- Indicators either lead or lag the operation of your organization.
- Leading indicators that predict the future are hard to define but the most valuable.
- Ensure that indicators don’t just monitor the same aspect of business operation
- Lastly, what an organization measures, monitors and targets begins to define how it operates, be careful not to manage to metrics and measures that ignore the big picture.
- Setting targets: