Strategy bites: Fish, Chips, & KPIs

Most managers are comfortable with goal setting and usually do a good job at it, especially if they use the tried and tested SMART approach. A common problem is that people confuse the process of establishing Strategic Objectives (important SMART-Goals) with the setting of KPIs.

Think of it this way: Readings from the speedometer and odometer in your car help you assess the likelihood of you reaching the beach house by lunch time. In other words, your present speed and distance travelled are your Key Performance Indicators for this trip.

Likewise in business; we need Strategic Objectives for our destinations and KPIs to assess our progress.

And remember, 100 kilometres per hour does guarantee fish ‘n’ chips on the dunes by noon – but it’s more likely.

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