Q The article entitled "Staying on Course with Strategic Metrics" explains that there are two major categories of metrics: management and strategic. Management metrics focuses on the vision and goals of the organization. Both metrics must be clear, meaningful, objective, and measurable. Destination metrics, which is a new term for me, answers the question "How will we know when we have arrived?" (Krentz, DeBoer & Preble (2006).

Q In most companies, strategic metrics at the vision level, are reviewed annually, and goal level strategies are reviewed semiannually or annually. Management metrics at the strategy level are reviewed weekly, monthly, or quarterly. Tactical level metrics are reviewed daily, weekly, monthly, or quarterly. The section on setting targets was also interesting because you have to decide where to set your targets. If they are set too low and are easily achievable, is that target really benefiting the organization? Stretch goals should be set at a reasonable level, one that can be met with extra effort and innovation. Setting target corridors is useful because markets change, and can be unpredictable. Setting a low and high target gives a range that can be accomplished. Krentz, S., DeBoer, A., & Preble, S. (2006). Staying on course with strategic metrics. Hfm (Healthcare Financial Management), 60(5), 86-93 8p.