Rasmus Ankersen

Strategies to Stay at the Top

 

Lesson 4: Using Metrics to Predict Future Challenges

 

In this GrowthTrack, Rasmus explains how leaders can look at the underlying performance indicators.

Materials Needed

Journel

Pencil

Discover

 

To maintain success over the long haul, you need to understand the difference between lagging and leading indicators. Watch the short video and then move to the questions below.

Lagging vs. Leading Performance Indicators

Rasmus Ankersen explains the difference between lagging and leading performance indicators—and how leaders should use this data to ensure continued organizational success.

Do

 

Schedule a strategy meeting with your team or your supervisor. Use the exercises from this GrowthTrack evaluate the strength of your organizational strategies. Select questions from the list below that would be most helpful for your discussion.

  • What do we think are the causes for our success?
  • How big of a factor was luck in our success?
  • If we were the most critical skeptic, what questions would we ask ourselves?
  • If we were our strongest competitor, how would we beat ourselves?
  • What leading performance indicators should we be tracking to identify potential dark clouds on the horizon?
  • What stretch goals could we put in place that would cause us to think bigger?
  • What potential ways could we expand the category in which our team competes?

Assessment

 

Instructions:

1. Take the assessment below to reflect on what you have learned about organizational strategy in this course. Compare your responses to the ones you answered on Week 1 and note the specific ways you have grown. Use the scale below to score yourself.

Scale:

1 – Never True of Me
2 – Rarely True of Me
3 – Sometimes True of Me
4 – Mostly True of Me
5 – Always True of Me

2. Where have you seen improvement? Make a note in your journal of how you can continue to apply your learnings

3. What have you learned about yourself as a leader? Reflect in your journal about the ways you saw God work in you over the past month.

 

Assessment Questions:

  1. When things are going well on my team, I am driven to be even more successful.
  2. On our team, we set stretch-goals at levels that cause us to think bigger to be able to reach them.
  3. On our team, we define our competitors more broadly than organizations in our same category.
  4. The culture of our team treats success with the same skepticism as failure.
  5. I am able to look at my team from the outside in to see potential areas of strength and weakness.
  6. I have a good idea of the different ways that our competitors could overtake us.
  7. I have a firm grasp on which of our metrics are measuring leading vs. lagging performance indicators.
  8. We measure a sufficient number of leading performance indicators to predict future success or challenges.
  9. I am aware of our team’s biggest weakness.
  10. I have a plan in place to address our team’s biggest weakness.

Deepen

 

Rasmus explained why knowing the difference between lagging and leading indicators can help leaders strategize for continued success. Think about the area of the organization for which you are responsible. Use the questions below to guide your journal time today.

 

  • What are the key metrics you use to measure success in your area? List them in your journal.
  • Next to each metric, identify which ones are lagging indicators and which ones are leading indicators.
  • Looking at your list, do you more often measure lagging or leading indicators? Why do you think that is?
  • Brainstorm 5 leading indicators that you could measure to help identify potential “dark clouds on the horizon”.
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