Results: How do you know ‘it’ works?

Colleagues

In working with my MBA students in one of their recent assignments, our discussions focus on the concept of results: how do you know when ‘it’ works? I am struggling to create good habits for my students in general to ensure that it is not what you know, but what you can prove that is of importance to the end user (the boss, the C-Suite Team, the consumer).  Particularly the C-Suite, business owners want to look at results, return on investment (ROI), and  the ability to justify investment with a high probability of success.

Again, I pose the questions:

  • How can you PROVE or SUPPORT your argument?
  • How do you know ‘it’ works? or could work?
  • How do you know your proposed strategies have a high probability of success and effectiveness?

I welcome suggested best practices as my goal is connecting academic theory and research with actual results.  Good habits start in college where we faculty prepare our students for what they may find in the ‘real world’ of business.  Even as established experts in our fields, our opinions are not always able to stand alone.  Instead, we need to support our opinions with research or benchmarking of programs or measurable results that have achieved historical success perhaps of increased sales, effectiveness, or increased quality.  In other words, how does one qualify success?  We look to our SMART goals so that we can measure through empirical results and probability regarding our proposals.  Our opinions will often not be enough to convince our boss or those in the C-Suite, why we should proceed to invest their monies without some assurance of a measured outcome.

I look forward to your thoughts.

My best,

Dr. Cheryl Lentz
The Academic Entrepreneur™ is passionate about closing the gap between academia and the business world. http://www.DrCherylLentz.com,

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April 11th, 2014 by admin

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