Law of FrequencyFail FasterEvery company has some degree of tolerance for being off-track. Both the actual time a company spends off-track and the magnitude of its deviation are determining factors in what is referred to as “frequency.” In other words, frequency can be thought of as the amount of time that goes by, after a decision is made, before a company realizes that the decision has or has not brought forth the anticipated improvement. It also takes into account the amount of time that goes by between that awareness and any efforts to take corrective action.The Law of Frequency is vital to a company's well-being and includes several key components: > Clear targets, with agreed-upon parameters spanning from unacceptable to outstanding > Frequent measurement of results against these same targets > Constant and immediate efforts to address discrepancies between targets and results > Bold commitment to getting it right Other areas where frequency should be applied are: > Budgets and financial reporting > Organizational structures and measurements > Sales and marketing > Business objectives > Employee review systems Companies who overlook any one of these crucial aspects of the Law of Frequency will, without question, hinder their effectiveness. Companies who incorporate all of these, however, will see dramatic improvement. |
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