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Meaningful Metrics for a Smart Society
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Date: 2018-12-12 Page is: DBtxt001.php L07-ABOUT-VISION-STRATEGY

ABOUT / VISION / STRATEGY
BETTER METRICS ARE FUNDAMENTAL TO SUCCESS ... YOU MANAGE WHAT YOU MEASURE
CHANGING THE WAY THE GAME IS SCORED WILL CHANGE THE WAY THE GAME IS PLAYED
ESSENTIAL TO MEASURE WHAT REALLY MATTERS

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THE TVM INITIATIVE
ENHANCING ACCOUNTING TO IMPROVE SYSTEM PERFORMANCE
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MEASURE WHAT MATTERS
MODERN METRICS ARE DANGEROUSLY DYSFUNCTIONAL
GO TOP
Peter Drucker famously said 'You manage what you measure'
This is undoubtedly true ... in the corporate world, the components that go into making profit are measured intensely in order to improve profit performance ... and it works!
Unfortunately, we don't do anything like the same amount of measuring in order to improve society and avoid degrading the environment ... and we don't have any easy way of talking about social performance and environmental performance in the same way that we are able to talk about corporate performance and investment portfolio performance. This has to change

It is difficult to measure and manage in a complex system. Some say it impossible, and from a purely mathematical perspective this may be valid, but in the everyday world there are many ways to improve substantially the progress and performance even in very complex situations.
From the engineering viewpoint, very complex systems may be improved by addressing small parts of the system and making that part better. I think about the development of the Boeing 747 aircraft that first flew some 50 years ago. Many aspects of the plane are more or less the same, but there have been thousands and thousands of improvements to the plane over time, and it is a far better plane now than when it was first flown more than 50 years ago!
It is also possible to lokk at the way nature evolves over time. Nature is incredibly complex, but it seems to manage itself to become better over time and to reinvent itself as needed.
An economic system and a social system may be improved in a similar way ... one small initiative at a time, always aiming to make both the immediate impact better while also having a positive impact on the bigger system. This is what a management system should be aiming to do, and this is how TrueValueMetrics (TVM) wants to function.
THE FOUNDATIONAL REASON FOR METRICS LIKE TVM
Conventional accounting and financial reporting does not enable meaningful accountability in a very big complex system for many different reasons. The goal of TrueValueMetrics (TVM) is to enhance conventional financial accountancy in ways that will make it possible to measure better and then be able to manage better in order to have a better less unsustainable world.
The following table outlines the framing that informs the design of an enhanced accountancy system.
Perhaps most important in this framing is that the same construct of measurement (numbering) is used not only for the reporting about a business organization, but about everything that makes up the complete complex socio-enviro-economic system and it respects the idea that different results will emerge depending on the perspective of the reporting entity. An obvious case of this is the case of payroll, where a bigger paycheck is good for the income of the employee while not being so good for the profit of the employer!
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Accounting and Accountability for ALL the
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VISION
TRUE VALUE METRICS
Accounting and Accountability for ALL the
SOCIO-ENVIRO-ECONOMIC SYSTEM

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STRATEGY
TRUE VALUE METRICS
Accounting and Accountability for ALL the
SOCIO-ENVIRO-ECONOMIC SYSTEM




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TrueValueMetrics (TVM) is an Open Source / Open Knowledge initiative.
It has been funded by family and friends plus donations from well wishers who understand the importance of accountability and getting the management metrics right.
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