If You Can't Measure It, You Can't Manage It

In business, "if you can't measure it, you can't manage it."

When it comes to executing your business strategy, you must first translate the strategic plan into short-term operating objectives or metrics - and progress must be monitored and measured regularly.

To achieve strategic objectives, your organization must develop short-term measurable objectives that logically relate to the company's strategy, as well as a plan for how your organization plans to compete: how you will be different from your competition.

Unfortunately, this is where most strategic planning sessions end; in a 3-inch binder sitting on a dusty shelf.

What needs to occur next is translating your organization's strategy into actionable plans and initiatives, and perhaps most importantly, translate these plans into measurable gradecards or scorecards which are continually monitored.

BOTTOMLINE: Continual monitoring progress toward organizational goals (both short-term and long-term) helps to keep you focused on what's important, which is an integral and vital part of the execution process. The earlier that course corrections can be made, the better.