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KPIs-Tools for Business Performance Management1 min read
Every business, large or small, regardless of industry, depends on getting certain things right on a regular basis. Survival depends on it. These things we like to call the Critical Success Factors.
Critical Success Factors relate to the business processes and activities that REALLY drive business results. At the top level, these are:
Processes and activities that are important to acquiring and holding customers
Processes and activities that determine revenue
Processes and activities that impact efficiency and productivity
Processes and activities that determine team morale
To know how well your business is managing these Critical Success Factors, you need a system of measurement. In effect, Key Performance Indicators ARE these measures. It’s important to understand how you can develop a set of KPIs that will allow you to monitor your business’ performance on these critical processes and activities.
We’ll begin a series of postings related to establishing and monitoring Key Performance Indicators in your business. For more information or one-on-one consultation, please call Simons Bitzer at (317) 782-3070 or visit us on the web at www.SimonsBitzer.com.
By Simons Bitzer
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