The Best Way to Measure Business Performance: The Truth behind the Metrics

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How do you measure a company's performance effectively? Join us for a lively exploration of performance measurement in organisations, complete with a humorous sketch that pokes fun at the murky world of target setting. We unravel the history of performance measurement, tracing its roots from the chaos of the Industrial Revolution to the precision of today's AI-driven insights. Discover how methodologies have evolved over centuries and how companies today strive to balance efficiency with societal goals like sustainability and corporate social responsibility.
From the post-war emphasis on customer satisfaction to the balanced performance measures of the 1980s, we highlight how the landscape has dramatically shifted. The conversation then takes a modern twist with the introduction of tools like the balanced scorecard and OKRs, and how real-time insights provided by big data and advanced analytics are disrupting traditional metrics. Are OKRs poised to replace KPIs, or do they coexist in a complex performance ecosystem? What the hell does that even mean?
Finally, we dive into the challenges inherent in the traditional focus on quarterly targets, particularly in large public organizations. The implications for employee morale and the systemic pressures tied to these targets are scrutinised, as is the critical relationship between learning and growth. With a blend of humour and insight, we critique the flaws of conventional metrics and advocate for a more holistic approach that values employee well-being and customer experience. Tune in for an episode that promises to transform the way you think about performance measurement and its role in personal and organisational growth.

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1. The Best Way to Measure Business Performance: The Truth behind the Metrics (00:00:00)

2. Performance Measurement in Organisations (00:00:02)

3. Evolution of Performance Measurement Over Time (00:15:33)

4. Measuring Performance Over Time (00:20:41)

5. Quarterly Targets and Performance Measurement (00:27:21)

6. Measuring Impact of Learning on Growth (00:36:58)