Key Indicators
What are Key Indicators?
Key Indicators allow you to
Track the Health and Performance of your Business.
They are developed by identifying the critical values you need to be aware of in
your Business. A range of possible values is defined and then the actual values
are measured over time. A chart is used to monitor the performance of the Key Indicator
as well as allowing you to become aware of potential problems before they occur
in your Business.
What is the Problem with Key Indicators?
When a Business has taken the time to define Key Indicators, quite often
they are
not measured and evaluated on a regular basis. Key Indicators
are of little use unless they are actually measured and evaluated regularly.
Another problem with Key Indicators is that the results are often
not communicated
to relevant Employees in the Business. If the Employees in the Business
are not aware of the critcial numbers in the business, they will
not be able
to consistently work towards achieving the goals of the business.
What are the Benefits of Using
Key Indicators in your Business?
Most Business owners and Managers would insist that they have 'a good feel'
for their Businesses. They suggest that they don't need to actually measure the
important values. What we have found is that a Business will
move much more
rapidly towards its goals when the critical numbers in the Business
are defined by Key Indicators and regular schedules established to measure and track
the Key Indicators
How does BusinessSystemsManager.com
handle Key Indicators?
BusinessSystemsManager.com has extensive Key Indicator functionality.
- A Key Indicator Wizard assists you to
define and schedule the measurement of Key Indicators.
- Key Indicators can be assigned to Tasks, Appointments
and Business Systems allowing them to
become a regular part of your Business's Operations.
- The Key Indicator Explorer provides an
easy interface for Employees to measure, edit, chart and monitor the Key Indicators
assigned to them in the Software.