How do you judge the success of your organisation?
By the profits you generate?
It makes sense, doesn't it? After all, that is why we are in business.
The problem with profitability is that it only tells us how well we did in the last accounting period. It tells us nothing about how well we might perform in the future.
So we need additional measures to ensure we are both healthy ... and fit ... for the future.
those additional measures will depend on the kind of business you run ... but might include customer satisfaction levels, repeat business, employee satisfaction (and motivation), etc.
I urge you to think about what you might measure to judge your fitness.... something more than simply taking your temperature (which is what profitability does).
By the profits you generate?
It makes sense, doesn't it? After all, that is why we are in business.
The problem with profitability is that it only tells us how well we did in the last accounting period. It tells us nothing about how well we might perform in the future.
So we need additional measures to ensure we are both healthy ... and fit ... for the future.
those additional measures will depend on the kind of business you run ... but might include customer satisfaction levels, repeat business, employee satisfaction (and motivation), etc.
I urge you to think about what you might measure to judge your fitness.... something more than simply taking your temperature (which is what profitability does).
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