Alumni

How to Avoid Irrelevance—Selecting the Right Measures to Support Your Strategy

Chicago Booth Alumni Club of Chicago

May 15, 2015: 7:30 AM - 8:45 AM

Strategic Management Practice and Issues

Where

Sopraffina Marketcaffe
222 West Adams Street
Chicago, Illinois

Event Details

Whether you believe, or not that business performance ultimately boils down to ROI, strategically, there are additional variables that inform your relative advantage, market position and effectiveness in which what you do connects with growth in demand.

In your business or function, how do measures you monitor relate and ensure business results? The growing availability and access to additional data makes new indicators possible and also require evaluation over time to determine their significance and relationship to other metrics.

Business Intelligence, and the corresponding report automation and dashboards suggest measuring key performance indicators (KPIs) matters. The increasing availability of data and has also fueled attention in storytelling and spanky visualizations.

In spite of report automation tools and quality controls, getting the right data and showing the appropriate measure requires actual hard work. Understanding why "bad" metrics prove most useful requires strategic thinking and business analysis skills, often beyond the capabilities of data scientists.

•Does your exec team use the same indicators to insure their functional areas' performance connect and align with the business strategy?

•Do your board's insights ever materialize into new indicators, or conversely

•Do early warning messages get the attention of the wider management team early enough to make a difference?

Do Check out our blog (https://strategyinsight.wordpress.com/) where we try to post some of the discussion notes, for those unable to join us.

Articles

Resilience: How Companies Prepare for Success in the Future
http://facultyresearch.london.edu/docs/Likierman_Resilience_PARC_meeting_2007.pdf

Uncommonly powerful performance metrics

http://www.forbes.com/sites/brettnelson/2014/01/29/uncommonly-powerful-performance-metrics-for-business-managers-part-1/

The trouble with Dashboards

http://www.informationweek.com/it-life/the-trouble-with-dashboards/a/d-id/1318643

Optional:

Inside the fall of BlackBerry: How the smartphone inventor failed to adapt

http://www.theglobeandmail.com/report-on-business/the-inside-story-of-why-blackberry-is-failing/article14563602/?page=all

Cost

No Charge

Questions

Rachel Kaberon