YOUR TUESDAY TIP – How to Audit and Adjust Scorecards

Business scorecards change and evolve over time. On average, a scorecard is revised six times before it is meaningful and measuring the right metrics. Every 90 days a scorecard audit needs to occur. Here are three tips for conducting an audit and making the necessary adjustments.

  1. Check Trends – Check for any trends indicating a need for goal adjustment. Metrics which are green for more than 90 days provide an opportunity to raise the goal and drive continuous improvement. Conversely, if any metric is red for 90 days with a valid corrective action plan in place, consider breaking the metric down further to determine underlying causes.
  2. Corrective Actions and Impact – Can a corrective action improve results? If the team is unable to impact the metric with a corrective action plan, discuss whether or not to keep it on the scorecard.
  3. Ask Questions – Where did you get the metrics? Make sure it’s tied to organizational strategy and priorities. Do you have too many metrics? Too many cause confusion and too many things on which to focus. Is the metric providing meaningful data? May need to revise, replace, or remove the metric.

If you would like more information on auditing Scorecards, join our free webinar on June 8th entitled “The Pitfalls and Payoffs of Using Business Scorecards or Dashboards” or contact us today.

Request Invitation to Webinar or to Learn More

“To do great things is difficult; but to command great things is even more difficult.”  
– Friedrich Nietzsche

 

YOUR TUESDAY TIP – Why Your Excel Spreadsheet Fails as a Scorecard

One of the most popular uses of spreadsheet software is for Business Scorecards. Is this a good decision? Electronic spreadsheets arrived in the late 1970s as a replacement for bookkeeping tasks traditionally done on paper. Are they capable of handling your scorecards in 2017?

Studies Show a Disappointing Reality

  • 94% of spreadsheets contain errors
  • 57% of spreadsheet users have never received formal training
  • 72% of spreadsheet users report having no audit process to check for accuracy

Do you feel safe in using a spreadsheet to compile your critical business data for tracking performance and making important decisions? Here are some things to consider.

  1. It’s similar to a ‘full body scan’ – A well-executed BI tool should be able to give users a detailed look at their entire business from top to bottom. Instead of clicking through multiple tabs, BI tools can quickly aggregate the data so managers can make more informed decisions.
  2. Provide your business with a single source of truth– In today’s world, data drives many of our decisions. However, without the necessary controls to ensure your data isn’t suspect, are you making the right decisions? BI tools remove this concern by ‘locking down’ the data.
  3. Identify key trends and track what you are doing to improve – Instead of handing out the latest spreadsheet, a BI tool offers a number of ways to visualize the information. In addition, by linking and displaying corrective action plans, leaders can quickly see not only how the organization is tracking, but also what is happening to improve those under-performing metrics.

Stop using spreadsheets! If you would like more information, join our free webinar on June 8th entitled “The Pitfalls and Payoffs of Using Business Scorecards or Dashboards” or contact us today.

Request Invitation to Webinar or to Learn More

“Only the guy who isn’t rowing has time to rock the boat.”  
– Jean-Paul Sartre

SHANE YOUNT & FRANK HACKER FROM ROCKLINE WILL SPEAK TODAY AT THE 2017 INDUSTRY WEEK EVENT

 

COMPETITIVE SOLUTIONS & ROCKLINE INDUSTRIES TEAM UP TO GIVE GREAT PRESENTATION

Cleveland, OH:  Shane Yount, Principal / Author with Competitive Solutions, Inc. (CSI), and Frank Hacker, General Manager with Rockline, will be speaking today at the 2017 Industry Week Manufacturing & Technology Conference & Expo

The title of his presentation is “Business Bootcamp: How Successful Organizations are Increasing Engagement, Execution, and Earnings.”  This session will challenge attendees to examine their current operating system and team functionality, while providing proven and practical solutions for improvement

Competitive Solutions, Inc. (CSI) has over twenty five years in leadership training and consulting experience.  CSI specializes in helping organizations develop meaningful business metrics, create culture of true accountability and improve communication within the organization deploying a business methodology called Process Based Leadership®.  This methodology achieves total process connectivity and consistency of utilization within all layers and departments in the organization.

YOUR TUESDAY TIP – Using Your Scorecard Data Effectively

Whether it is too much data, too complex data, or most often, the lack of acute business acumen to process the data, most companies today are drowning in useless reports.

At CSI, we believe that business data must take the form of an “Active Positioning Device not a Passive Report.” The most successful organizations today view data as a process, not a report. These organizations recognize that points are not given for colorful bulletin boards and fancy email attachments, but rather a simple and concise system that allows every team within the organization to utilize their performance data to “Drive the Business Forward.”

Are Your Scorecards Passive Reports or Active Positioning Devices?

Do you receive email attachments of data that you don’t bother to open because you already know it is irrelevant?

Do you pass by bulletin boards of dashboards and scorecards without a second glance because you don’t believe what is posted really moves the business forward?

Do you have your own set of business indicators that you track for yourself because the other reports are convoluted or simply of no value?

Do you have too much information, and are you unable to determine what data is meaningful and what data is not?

If you answered “Yes” to any of the above questions, join our Webinar on June 8th entitled “The Pitfalls and Payoffs of Using Business Scorecards or Dashboards” to learn how to effectively use Business Scorecards.

Request Invitation to Webinar

“Hold yourself responsible for a higher standard than anybody expects of you. Never excuse yourself.”  
– Henry Ward Beecher

YOUR TUESDAY TIP – Why Use Data to Measure Your Business Performance?

Business Scorecards and Dashboards are performance management tools that display historical trends and compare strategic goals against actual results. These tools allow management to implement its strategy by aligning performance with goals. Similar to a grade school report card, your data should measure periodic results (weekly, monthly, quarterly, annually) against a predetermined goal, allowing users to gauge how their performance stacks up against expectations.

Data drives better performance. The evidence is clear. When people and groups throughout an enterprise know how they are doing and what needs improving, they are more engaged and driven to perform better.

Business Scorecards and Dashboards implement strategy. Business Scorecards and Dashboards can translate your strategy into concrete, measurable and actionable metrics. With concise and focused Business Scorecards and Dashboards, the data presented can highlight what are the areas of opportunity and where are the operational issues.

Having the right data to measure. A group of measures implemented without a well-thought-out performance model in mind or, worse yet, imposed from the outside, seldom brings focus or desired results. Effective Business Scorecards and Dashboards are, by nature, consciously and purposefully constructed. In building one, you develop a logical structure that helps everyone know what should be measured, how his or her team aligns with the rest of the organization and what does not belong.

Do you have effective business scorecards or dashboards that drive positive business results? If not, click below to request the 5 Truths of Business Scorecards or to join our Webinar on June 8th entitled “The Pitfalls and Payoffs of Using Business Scorecards or Dashboards”

5 Truths of Business Scorecards

“I can give you a six-word formula for success: Think things through–then follow through.”  
– Edward Rickenbacker

YOUR TUESDAY TIP – Podcast of Business Bootcamp

Everyone is raving about Shane Yount’s Business Bootcamp presentations at the American Manufacturing Summit and the North American Manufacturing Excellence Summit. Since many of you didn’t have the opportunity to hear Shane, we wanted to provide you with the opportunity to learn about this insightful methodology.

Hear Shane speak on these Key Points:

  • Drive Business Acumen at a tactical level
  • Move accountability from a concept to a practice and elevate engagement
  • Eliminate hours of meetings a week by re-calibrating intent
  • Moving from abstract OPEX tools to business critical necessities
  • What are the eight essential elements of 21st century leaders?

Click the link below to access Shane Yount’s presentation:

Business Bootcamp Podcast

“The price of greatness is responsibility.”  
– Winston Churchill

SHANE YOUNT WILL BE THE KEYNOTE SPEAKER AT THE 2017 ISPE CONFERENCE ON QUALITY CULTURE & QUALITY METRICS

SHANE YOUNT SPEAKING TODAY AT

2017 ISPE CONFERENCE ON QUALITY CULTURE & QUALITY METRICS

Bethesda, MD:  Shane Yount, Principal / Author with Competitive Solutions, Inc. (CSI), will be giving the keynote address at the 2017 ISPE Conference on Quality Culture and Quality Metrics today. 

The title of his presentation is “TEAMS 2.0 – Creating and Sustaining Clarity, Connectivity, and Consistency.”   This keynote presentation will provide the attendee with the true essence of performance management and how it can benefit their organizations.  Individuals will take away examples of how companies are successfully using performance management to retain, motivate, and engage their workforce.

Competitive Solutions, Inc. (CSI) has over twenty five years in leadership training and consulting experience.  CSI specializes in helping organizations develop meaningful business metrics, create culture of true accountability and improve communication within the organization deploying a business methodology called Process Based Leadership®.  This methodology achieves total process connectivity and consistency of utilization within all layers and departments in the organization.

SHANE YOUNT SPEAKING TODAY AT THE TEXAS SHRM LEADERSHIP MEETING

SHANE YOUNT SPEAKING TODAY AT  THE TEXAS SHRM LEADERSHIP MEETING

Austin, TX:  Shane Yount, Principal / Author with Competitive Solutions, Inc. (CSI), will speak at the Texas SHRM Leadership Meeting today.  Shane will speak at 8:30 am.

The title of his presentation is “Accountability Bootcamp – Elevating Expectations of Engagement, Execution, and ultimately Earnings.”  One of the hottest topics for leaders and managers today is around Accountability.  Nearly everyone is attempting to measure, track progress and create the best possible work environment to improve accountability levels and in turn boost overall performance.  To sustain a culture of accountability, an organization must create, document and audit business systems that support an accountability mindset. 

Competitive Solutions, Inc. (CSI) has over twenty five years in leadership training and consulting experience.  CSI specializes in helping organizations develop meaningful business metrics, create culture of true accountability and improve communication within the organization deploying a business methodology called Process Based Leadership®.  This methodology achieves total process connectivity and consistency of utilization within all layers and departments in the organization.

YOUR TUESDAY TIP – The Engagement Attributes of Ownership for Development and Collaborative Mentoring and Coaching

Engaged employees identify strongly with the statement, “You own your career”. They do not wait luck, chance, or to be tapped for the next promotion, instead they take deliberate steps to reach their destiny that require both planning and commitment.

Owning your professional development requires purpose, planning and people. Search for others to mentor and coach you along your journey and engage in the development of others. You may be surprised as to how much you learn about yourself while actively engaging with others.

10 Tips for Owning Your Development:

  1. Understand your purpose – why do you exist, what is it that you were meant to do?
  2. Narrow down your larger purpose –if your purpose is to help others, what are the types of things that you are interested in that would allow you to do that?
  3. Understand what in your past, present and future that will help and hinder you in achieving your purpose and take actionable steps. Consider things like cost, other commitments, experience (both at work and volunteer.)

The good news is, you can take control of your career and development back at any time and live the life that you were meant to live. Click below to request the complete list of tips.

10 Tips for owning Your Development

“It is amazing what you can accomplish if you do not care who gets the credit.”  
– Harry Truman

SHANE YOUNT SPEAKING TODAY AT NORTH AMERICAN MANUFACTURING EXCELLENT SUMMIT

SHANE YOUNT SPEAKING TODAY AT

NORTH AMERICAN MANUFACTURING EXCELLENCE SUMMIT

Chicago, IL:  Shane Yount, Principal / Author with Competitive Solutions, Inc. (CSI), will speak at the North American Manufacturing Excellence Summit.  Shane will speak at 11:40 am.

The title of his presentation is “Business Bootcamp – Driving Greater Execution, Engagement, and Ultimately Earnings!”  Without Non-Negotiable systems, Organizational leaders will never be able to truly “Transform the Business.” The ability to collectively harmonize often contrasting functions into a cohesive team is a must.  This presentation will challenge attendees to examine their current operating systems and functionality, while providing proven and practical solutions for improvement.

Competitive Solutions, Inc. (CSI) has over twenty five years in leadership training and consulting experience.  CSI specializes in helping organizations develop meaningful business metrics, create culture of true accountability and improve communication within the organization deploying a business methodology called Process Based Leadership®.  This methodology achieves total process connectivity and consistency of utilization within all layers and departments in the organization.