Our focus would be on what are the correct metrics that are to be measured, what can be the pitfalls in doing so and what is an ultimate paradigm model of measuring the right metrics.
Whatever can be measured can be easily managed. So it is necessary to identify the correct parameters.
Let us examine a case-
John is a marketing executive in a marketing company Mark-Up.
His job is to generate leads for the companies business.
John was excellent at his job- being the first one in the history of the company to generate that many leads in a single financial year.
However, after a year has sacked.
Why?
Because the leads he generated did not get converted into customers/clients!
Thus in this, we see if we measure an incorrect metric, in this case, the number of leads generated by John, to get an indication of the businesses that are to come, it will be a loss of time and energy and money for all.
So such loopholes are to be avoided – organisational goals are to be aligned with individual goals for example.
Certain techniques to review the leads could have served as a warning sign for the Company and John as well. Like if they were selling TVs , they could have noted down whether the leads already had a TV or not and their monthly income .
So measuring the right metrics is very important.