Measurement

In this episode of the Lazy CEO Podcast, host Jim Schleckser discusses the importance of measurement and different measurement methodologies. He introduces KPIs (Key Performance Indicators) as backward-looking measurements that inform how the business has performed in the past. Financial metrics are highlighted as an example of backward-looking measurements that provide a scorecard view of the business's financial performance.

Jim explains the concept of the balanced scorecard, which incorporates financial, internal, customer, learning and growth metrics. He emphasizes the interconnectedness of these metrics and their alignment with the organization's strategy. The balanced scorecard provides a comprehensive view of the business's performance and helps identify areas for improvement.

Another measurement approach discussed is the strategy map, which takes the balance scorecard one step further by linking strategic goals to specific objectives and key results. Strategy maps create visibility and accountability within the organization, ensuring that everyone understands how their efforts contribute to the overall strategy.

.css-j9qmi7{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;font-weight:700;margin-bottom:1rem;margin-top:2.8rem;width:100%;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:start;justify-content:start;padding-left:5rem;}@media only screen and (max-width: 599px){.css-j9qmi7{padding-left:0;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;}}.css-j9qmi7 svg{fill:#27292D;}.css-j9qmi7 .eagfbvw0{-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;color:#27292D;}