Get Clear Strategic Insights with KPIs
How can Board members get better insights into what the road ahead looks like for their company? Board reports help directors see past results, but that is history. Understanding what is coming next is the critical foresight needed to set the strategic direction.
It is essential to have “lag” indicators (KPIs) that measure what has already happened, but you also need “lead” indicators (KPIs) that show you what might happen in the future. These might be KPIs such as customer satisfaction, competitor actions or market share. For not-for-profit entities, it might be member satisfaction, membership growth or donor engagement.
Lag indicators are beyond your control, they have happened. Lead indicators are still in control of the Board to do something about. Make sure you have strategic KPIs for all aspects of your company and monitor them.
Remember if I can be of any help to your business simply email at info@tappadvisory.com.au or ring me on 0411111588 and I will be happy to assist, at no cost to you.
Warren Tapp
Tapp Advisory, Business Consulting Gold Coast.
Business Profits Made Easy.
Resources from the Tapp Advisory Store:
-
Board Basics – Hard Copy – A simple introduction to the roles and responsibilities of Directors on Boards. It is a non- technical book you can use as a handy reference guide if you report to a Board, or you are appointed to one in Australia. It is a 68- page paperback.
Questions for Company Directors – Hard Copy
The book ‘Questions for Company Directors’ is a simple handbook to inform directors about the questions they need to put to management as part of their oversight role.
Directors should keep this book handy at all times – and keep asking those questions!
You may be interested in…
Club Board Training to improve your Club Governance
Club Governance Online Training Program is for all Board and Committee Members
Does your Organisation’s Board, Committee and each of the Directors know how to do their jobs?
Now there is a solution to ensuring your Board or Committee know how to do their job and protect your Organisation!
Club Governance Online Training Program is for all Board and Committee Members
Does your Organisation’s Board, Committee and each of the Directors know how to do their jobs?
Now there is a solution to ensuring your Board or Committee know how to do their job and protect your Organisation!
