KPIs, or “Key Performance Indicators”, are essential elements for measuring performance and under the right circumstances enable an organization to achieve its set objectives. The right indicators are chosen individually for each company and its specific situation. An external manager has the advantage of a more objective point of view in their selection and establishment of such indicators where as an internal employee may find difficultly in setting KPIs for himself or his colleagues.
In order to document and compare the performance of companies in relation to other companies in the same industry, it is necessary to first ensure objective measuring of the results of its divisions, regions or departments. The specific method is again always adapted to the specific needs and circumstances of each company. Benchmarking is a tool that is used for mapping and documenting the current state of the company compared to its competitors. That it is usually followed by the introduction of standardized continuous procedures of the implementation of benchmarking in the company and upon agreement implementation of this procedure in the controlling department of the company. I can provide more information regarding this process at a meeting discussing your specific situation.
Quotes and Comments
“If you can´t measure it, you can´t manage it.“