Another Year Older, But Are We Another Year Wiser?

By Rob Wright, Chief Editor, Life Science Leader
Follow Me On Twitter @RfwrightLSL

Welcoming the new year brings a period of reflection for people, companies, and organizations. People contemplate how they did as human beings. Were they a good parent, spouse, person …? Despite our best efforts, we rarely measure up. This is why most New Year’s resolutions focus on personal improvement (e.g., drinking less, saving more, getting in shape, and losing weight). Charitable organizations look at inputs, outputs, and outcomes. Inputs: how’d they do with people volunteering time, money, and resources? Outputs: how’d they do in the number of activities conducted? Outcomes: how’d they do in making society better? Companies focus on KPIs, which include financial measures, such as sales growth and earnings per share (EPS) growth, and nonfinancial (e.g., loyalty and product quality).