Editorial
'The best laid schemes o' mice an' men / Gang aft agley'
Often paraphrased as 'The best-laid plans of mice and men / Go oft awry' this poem by Robert Burns in 1785 was included in the Kilmarnock volume also known as Poems, Chiefly in the Scottish Dialect. As the legend goes, Burns wrote the poem after, as the poem suggests, turning up the winter nest of a mouse on his farm. (From Wikipedia/2007)
Wikipedia is the best “5 Minute Researcher” site going…provided you are willing to take the time to do the due diligence necessary to substantiate what is posted…which can take hours. I make this point to zero in on the use of the term “due diligence”…a noun for which Merriam-Webster Online provides the following 2 definitions:
- the care that a reasonable person exercises under the circumstances to avoid harm to other persons or their property
- research and analysis of a company or organization done in preparation for a business transaction (as a corporate merger or purchase of securities)
Today’s popular use of the term centers on blending the two with emphasis on “care that a reasonable person exercises” and “research and analysis.” From Enron to Sarbanes-Oxley one needn’t go far to hear due diligence expressed to communicate that all reasonable efforts are being made to get something done “right” as in “within the bounds of the law.” The term’s use ranks right up there with transparency when it comes to communicating accountability.
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Due diligence has a profound impact on the quality of performance evaluation from a managed process perspective. It is the grease to the wheel of strategy management. The more time and effort an organization puts into developing key performance indicators (tied to each objective) in its plan and commits to consistently collecting data and regular analysis the better position it will occupy at decision-making times. Doing this doesn’t guarantee that leadership interactions at the strategy level will run smoothly or run at all; it does guarantee that regardless of the human dynamics the information will be there to provide a picture of the organization’s strategic level performance.
Oft times this work is acknowledged as important and then left on the back burner with all energy and resources given to measuring financial performance. To take this fight to the strategy management level takes a “good to great” mindset, unwavering resolve (we are doing this!) of an organization’s executive and board leaders and a whole lot of hard work. Our experience confirms this process is years in the making (2 to 3 usually) and is all about culture change…as in “real” culture change.
We’ll never know Mr. Burns thoughts on this but there are great resources available to help you learn more regarding what it takes, along with practical “how to” information from our staff. Please contact us.