‘On the Spot’ Effectiveness that Translates Strategies into Business Results
An Espoir worldwide Initiative
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Member: American Society of Training & Development
An Espoir Worldwide Initiative
Espoir was founded in 2005 by a team of industry professionals working with leading global companies specializing in Technology, Engineering, Human Resources, Finance, Arts and Management .
We create innovative, cutting-edge skill-building programs that help people learn automatically, and also bring them out of their “Unconscious Incompetence”. We develop new methodologies & technologies for this.
We are passionate about what we do. We are happy with our creations because our users are satisfied with what they achieve in real life situations as a result of trusting our products and programs.
We don’t advertise. We believe, if you are really in need, you would search and find us. We also believe, ultimately, you are responsible for your future. We can sincerely help. Let us meet on ‘Let’s Meet’ page.
Measurement is the first step that leads to control and eventually to improvement. If you can’t measure something, you can’t understand it. If you can’t understand it, you can’t control it. If you can’t control it, you can’t improve it.
Marty Rubin once said, “Every line is the perfect length if you don't measure it.” That is true with human beings too.
Most of us don’t like to measure performance. Part of it is a natural resistance to measurement, the fear that, if I measure my performance, somebody is going to use the results of those measures against me. That’s a justifiable concern, but it ignores the opportunity to use the results of those measures to demonstrate your value to the organization. ChiefMentor programs stress the importance of performance measures and how the results can be used to improve and not to punish, then identifying personal performance measures can help you do your job better.
Responsible and confident executives ask apt questions, and expect relevant data in response. How do you work? Do you gather and integrate data and information from all sources to support daily operations and organizational decision making? Then, how do you measure performance in your department/division or in your organization? Why were these measures selected? Which metrics do you look at to evaluate daily operational performance? And, which metrics do you look at to evaluate overall organizational performance?
Self-belief, or self-efficacy, is the kind of feeling you get when you have mastered these skills, and with its help you can achieve your’s and the company’s set goals.
“Familiar things happen, and mankind does not bother about them. It requires a very unusual mind to undertake the analysis of the obvious.” - Alfred North Whitehead
Analysis refers to extracting larger meaning from data and information to support evaluation, decision making, improvement, and innovation. Analysis entails using data to determine trends, projections, and cause and effect that might not otherwise be evident.
Gathering relevant data and analysing them objectively is the foundation and lifeline of any business. Whether one wants to arrive at some marketing decisions or fine-tune new product launch strategy, data interpretation and analysis is the key to all the problems.
Successful companies have processes for selecting, collecting, aligning, and integrating data and information, and they have processes for using that data and information to do their jobs and make critical decisions. Management by fact is a core value evident in the performance measurement systems of successful companies. Powerful communication is the cornerstone of using data interpretation for success.
Recently, IBM surveyed nearly 400 business leaders worldwide about how they use information and apply business intelligence. It compared top performers, and lower performers in the bottom two quintiles. Twice as many top performers as lower performers had mastered three basic characteristics of information management:
“If a measurement matters at all, it is because it must have some conceivable effect on decisions and behaviour. If we can't identify a decision that could be affected by a proposed measurement and how it could change those decisions, then the measurement simply has no value” ― Douglas W. Hubbard, How to Measure Anything: Finding the Value of "Intangibles" in Business .
In many companies there are disputes about what measure as many executives fear measurement. ChiefMentor programs stress that data bases should be built with a plan, rather than something that just evolved over time. Macro measures must be derived from company’s strategic objectives, or analysis of future success factors!
Have you tried to identify the co-relations between customer satisfaction measures and financial performance? What are the correlations between measures of product/service quality and customer satisfaction?
These correlations are eye openers. Successful companies use analysis of relationships between individual performance measures to make key business decisions. Continued monitoring of trends and correlations is done to identify changes in correlations and to identify new ones. Coaching, Mentoring and Guiding can be of greater meaning when it is based upon analysis of data and an understanding of how each measure relates to others.
It is imperative to communicate the results of organizational level analysis to work group and other functional -level operations to enable effective support for decision making. That means, organisational analyses must be communicated to all appropriate employees and stakeholders.
Similarly, it is imperative to gather relevant data from variety of sources at a frequency decided in the strategic objectives.
Networking plays an important role in gathering of the data, to communicate the results of data analysis and to test the validity of the analysis results.
“Not everything that counts can be counted, and not everything that can be counted counts”
― Albert Einstein
To make it effective, it is important to think about the type of data you collect relating to performance, and to examine the process by which you analyse those data in order to make decisions.
“Management by Fact” is a core value adopted by all successful organizations. Their key decisions depend on the measurement and analysis of performance. Successful organizations ensure that such measurements derive from business needs and strategy, and they provide critical data and information about key processes, outputs, and results.
As we know, many types of data and information are needed for performance management. Data should be segmented by, for example, markets, product lines, and workforce groups to facilitate analysis.
1. Applied Professional Excellence
3D Executive Excellence Framework
1. Applied Professional Excellence
2. Applied Personal Excellence
3. Applied Language Excellence
2. Applied Personal Excellence in Data Interpretation
3. Applied Language Excellence
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