TABLE OF CONTENTS
Why we need a dashboard
This is a fundamental question, since a scorecard can be the key to making the best decisions to improve results.
It may be a no-brainer for some, but for others, its usefulness is not so clear.
We will explore the advantages of having a dashboard and why you should consider having one, whether in business, marketing or any other area.
Performance overview
Often, we get caught up in the day-to-day routine, which prevents us from seeing where we are headed. We work hard and sometimes achieve our goals, but not necessarily because we have monitored them closely throughout the year.
A scorecard provides us with a global view of performance, which we often lose when we are immersed in day-to-day tasks.
Strategic decision making
Imagine that you sell a product or service and, halfway through the year, you have already reached your revenue targets. This gives you the opportunity to adjust your strategy, perhaps increase margins or explore new sales opportunities.
Having clarity on the status of your objectives makes strategic decision making much easier.
Better understanding of objectives
A scorecard improves the understanding of objectives. In an organization, different people may have different interpretations of the objectives if they are not properly communicated.
A scorecard helps to align the understanding of objectives, which is essential for joint success.
Strategy implementation
The scorecard also improves strategy implementation. If the indicators reflect good performance, it means that the strategy is working.
If the indicators show problems, it is time to rethink the strategy. This makes everyone in the organization understand the state of the strategy and be willing to make changes if necessary.
Efficient coordination
Coordination is greatly facilitated when everyone shares a common understanding of objectives and strategy. By identifying problems more effectively, steps can be taken to address them.
Imagine two people using different dashboards: both will be able to identify a problem at a specific point and coordinate to solve it.
Team motivation
Finally, a scorecard can increase team motivation. When team members understand how the scorecard contributes to the achievement of objectives, they are more motivated to work together toward a common goal.
Proper communication and explanation of the scorecard is key to ensuring that everyone understands its usefulness and is motivated to work in harmony toward a shared goal.
In short, a scorecard is not just a tool, it is a valuable aid for strategic decision making, understanding objectives, efficient coordination and team motivation.
Whether in business, marketing or any other area, considering the implementation of a dashboard can make a difference in the success of your organization.
