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the role of metrics and measurement

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A. What is the role of metrics and measurement in the strategy process?

B. Why are they so important to the strategy process?

C. What are the possible outcomes for a company that decides not to put metrics and measurement into its strategic plan?

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the role of metrics and measurement is discussed very comprehensively in this explanation..

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A. What is the role of metrics and measurement in the strategy process?
The role of metrics and measurement is very important in the strategy process. Metrics help measure the objectives, and the tasks. In the strategy process these are crucial because measurement helps understand how much progress has been made. Metrics help monitor the progress of strategy because of periodic comparison of the target metrics with actual performance. Most important, metric s and measurement help assess if the strategy is on course. If at any time the metrics are not on target, the causes of variation can be ascertained and corrective action can be taken to bring the strategy implementation on course.
B. ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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