Nowadays, key performance indicators (KPIs) are common management tools that enable managers to better understand their business and improve performance. Although their terminology may vary from one company to another (performance indicators, performance measures or KPIs), in essence all these terms have the same meaning. According to The KPI Institute, a key performance indicator is a measurable expression for the achievement of a desired level of results in an area relevant to the evaluated entity’s activity.
The field of performance management is a relatively new area, where tools and techniques may not be very well structured and terminology is sometimes ambiguous. Bringing more clarity in regards to key concepts can reveal a more efficient way of using KPIs.
Selecting KPIs is an important step in the process of measuring performance. In order to ensure the right KPIs are chosen for each objective, managers should have a wide understanding on what KPIs are. KPI typologies present various ways to look at performance indicators and create logical clusters. Grouping KPIs on specific criteria provides more clarity in regards to what is measured in relation to the objective assigned.
Frequently referred to as the blood which fuels an organization’s operations, cash is an economic reality that cannot be overlooked. Fulfilling cash requirements on a short term by either collecting, managing or investing is a fundamental responsibility of business managers and corporate treasurers.
Acknowledging employee feedback regarding their activities is an important element in increasing organizational performance. The USA government is committed to making such an annual assessment of its federal employees’ opinions. The tools has proven to be highly efficient and helpful both for leadership and staff.
When you say Nicholas Felton, you say data visualization, performance, creativity and passion. Felton is an infographic designer, mostly known for his activity as part of Facebook’s product design team, as well as for his Personal Annual Reports. The latter compile daily measurements into graphs, maps and statistics, mirroring the year’s activities, from food and drinks to travels, communication and relationships.
The Mayor’s Office for Policing And Crime (MOPAC) from London, UK, is the strategic authority that coordinates the Metropolitan Police Service (MPS), making sure that the London Police operates efficiently and effectively.
