| In the business world, it is not uncommon for | | | | mean that they can be presented as numbers or |
| managers to learn from their colleagues. A | | | | they can be practical indicators which make |
| KPI forum is one avenue where learning and | | | | them evident in existing organizational |
| exchange of ideas take place. This online | | | | activities or processes. These indicators may |
| meeting of people sharing a common interest | | | | also be directional in nature which means |
| is deemed to be one of Internet's greatest | | | | that they determine whether the organization |
| gifts to mankind. | | | | is improving or not or they may be actionable |
| | | | indicators which are capable of determining |
| KPI is actually an acronym of the words, key | | | | in what way an organization can effect change |
| performance indicators. These are metrics | | | | to improve overall performance. KPIs may take |
| used by organizations to determine where they | | | | the form of regional or district sales |
| are in terms of overall organizational | | | | figures or trends, information on supply |
| objectives. These may be financial or | | | | chain activities, personnel statistics and |
| non-financial in nature and may differ from | | | | trends, and any other information that is |
| one group to another depending on the | | | | crucial to an organization's success. These |
| implemented strategy of a company as well as | | | | data are most often presented in reports, |
| the nature of the organization. For example, | | | | charts and spreadsheets. Given the nature of |
| if the organization is a social service | | | | these vital data, many companies have |
| organization, the number of people who were | | | | equipped themselves with special software |
| beneficiaries of company projects could be a | | | | that makes it easier for them to track and |
| relevant KPI. However, for other | | | | monitor relevant data associated with |
| organizations, annual sales volume may be a | | | | organizational KPIs. The digital dashboard or |
| relevant success factor. | | | | executive dashboard is one of the business |
| | | | management tools that are frequently used by |
| It is vital for every organization to | | | | managers. These dashboards display data from |
| determine correct and important KPIs to | | | | various business systems to guide them in |
| ensure the effectivity and efficiency of all | | | | decision-making. These may be used to monitor |
| business processes. When identifying crucial | | | | all organizational functions including |
| KPIs, the acronym SMART frequently comes to | | | | recruiting, sales, operations, information |
| mind. This acronym stands for the | | | | technology, human resources and customer |
| characteristics that KPIs should have, which | | | | relationship management. |
| are as follows: Specific, Measurable, | | | | |
| Achievable, Result-Oriented and Time-based. | | | | The dilemma of most business managers is the |
| Aside from these, it is also a major concern | | | | identification of relevant KPIs. This is |
| for organizations to ensure that data related | | | | brought forth by the realization that the |
| to KPIs are consistent and accurate as well | | | | identification of incorrect performance |
| as readily available. Otherwise, incorrect | | | | indicators could be fatal for any company. In |
| analysis of organizational performance may | | | | KPI forum online, it is noted that managers |
| result. | | | | exchange ideas about which indicators would |
| | | | be most useful. They also exchange ideas |
| Possible indicators of organizational success | | | | about how to improve overall performance of |
| can be categorized into four distinct groups. | | | | business organizations. |
| They can be quantitative indicators which | | | | |