Implement systems and key performance indicators

[Midfielder]

Fuller details..Implement systems and key performance indicators/targets to monitor business performance and customer satisfaction.

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[ashrafun]

Key Performance Indicators define a set of values used to measure against. Key performance indicators (KPIs) are ways to periodically assess the performances of organizations, business units, and their division, departments and employees. Accordingly, KPIs are most commonly defined in a way that is understandable, meaningful, and measurable. They are rarely defined in such a way such that their fulfilment would be hampered by factors seen as non-controllable by the organizations or individuals responsible. Such KPIs are usually ignored by organizations. In order to be evaluated, KPIs are linked to target values, so that the value of the measure can be assessed as meeting expectations or not.

Business performance management is a set of management and analytic processes that enable the management of an organization's performance to achieve one or more pre-selected goals. Business performance management is contained within approaches to business process management.

Business performance management has three main activities:
1. selection of goals,
2. consolidation of measurement information relevant to an organization’s progress against these goals, and
3. interventions made by managers in light of this information with a view to improving future performance against these goals.

On the other hand customer satisfaction means the degree of satisfaction provided by the goods or services of a company as measured by the number of repeat customers.
Thus to make a business successful one need to implement systems and key performance indicators / targets to monitor business performance and gain overall customer satisfaction from blending this activities whether it is big or small.

[nirmala]

A performance indicator or key performance indicator (KPI) is an industry jargon for a type of performance measurement. KPIs are commonly used by an organization to evaluate its success or the success of a particular activity in which it is engaged. Sometimes success is defined in terms of making progress toward strategic goals, but often, success is simply the repeated achievement of some level of operational goal (for example, zero defects, 10/10 customer satisfaction, etc.). Accordingly, choosing the right KPIs is reliant upon having a good understanding of what is important to the organization. 'What is important' often depends on the department measuring the performance - the KPIs useful to finance will be quite different to the KPIs assigned to sales, for example. Because of the need to develop a good understanding of what is important, performance indicator selection is often closely associated with the use of various techniques to assess the present state of the business, and its key activities. These assessments often lead to the identification of potential improvements; and as a consequence, performance indicators are routinely associated with 'performance improvement' initiatives. A very common method for choosing KPIs is to apply a management framework such as the balanced scorecard.
KPIs can be summarized into the following sub-categories:
Quantitative indicators which can be presented as a number.
Practical indicators that interface with existing company processes.
Directional indicators specifying whether an organization is getting better or not.
Actionable indicators are sufficiently in an organization's control to effect change.
Financial indicators used in performance measurement and when looking at an operating index.
In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy.
Within organizations, customer satisfaction ratings can have powerful effects. They focus employees on the importance of fulfilling customers’ expectations. Furthermore, when these ratings dip, they warn of problems that can affect sales and profitability. These metrics quantify an important dynamic. When a brand has loyal customers, it gains positive word-of-mouth marketing, which is both free and highly effective.

[anilla]

Key Performance Indicators, also known as KPI or Key Success Indicators (KSI), help an organization define and measure progress toward organizational goals.
Once an organization has analyzed its mission, identified all its stakeholders, and defined its goals, it needs a way to measure progress toward those goals. Key Performance Indicators are those measurements.

What Are Key Performance Indicators (KPI)
Key Performance Indicators are quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an organization. They will differ depending on the organization.
•A business may have as one of its Key Performance Indicators the percentage of its income that comes from return customers.
•A school may focus its Key Performance Indicators on graduation rates of its students.
•A Customer Service Department may have as one of its Key Performance Indicators, in line with overall company KPIs, percentage of customer calls answered in the first minute.
•A Key Performance Indicator for a social service organization might be number of clients assisted during the year.
Whatever Key Performance Indicators are selected, they must reflect the organization's goals, they must be key to its success,and they must be quantifiable (measurable). Key Performance Indicators usually are long-term considerations. The definition of what they are and how they are measured do not change often. The goals for a particular Key Performance Indicator may change as the organization's goals change, or as it gets closer to achieving a goal.

Key Performance Indicators Reflect The Organizational Goals
An organization that has as one of its goals "to be the most profitable company in our industry" will have Key Performance Indicators that measure profit and related fiscal measures. "Pre-tax Profit" and "Shareholder Equity" will be among them. However, "Percent of Profit Contributed to Community Causes" probably will not be one of its Key Performance Indicators. On the other hand, a school is not concerned with making a profit, so its Key Performance Indicators will be different. KPIs like "Graduation Rate" and "Success In Finding Employment After Graduation", though different, accurately reflect the schools mission and goals

management.about.com/cs/generalmanagement/a/keyperfindic.htm

[poonam]

Implement system and key performance indicators to monitor bsiness performance and customer satisification:
Key Performance Indicators, also known as KPI or Key Success Indicators (KSI), help an organization define and measure progress toward organizational goals.
Once an organization has analyzed its mission, identified all its stakeholders, and defined its goals, it needs a way to measure progress toward those goals. Key Performance Indicators are those measurements.
KPIs serve to reduce the complex nature of organisational performance to a small number of key indicators in order to make it more digestible for us. This is the same approach we use in our daily lives. For example, when you go to your doctor he might measure blood pressure, cholesterol levels, heart rate and your body mass index as key indicators of your health. With KPIs we are trying to do the same in our organisations.
Business performance management is a set of management and analytic processes that enable the management of an organization's performance to achieve one or more pre-selected goals. Business performance management is contained within approaches to business process management.

Business performance management has three main activities:
1. selection of goals,
2. consolidation of measurement information relevant to an organization’s progress against these goals, and
3. interventions made by managers in light of this information with a view to improving future performance against these goals.

On the other hand customer satisfaction means the degree of satisfaction provided by the goods or services of a company as measured by the number of repeat customers.
Thus to make a business successful one need to implement systems and key performance indicators / targets to monitor business performance and gain overall customer satisfaction from blending this activities whether it is big or small.

www.ap-institute.com/Key%20Performance%20Indicators.html
management.about.com/cs/generalmanagement/a/keyperfindic.htm

[rosebud]

Identifying relevant controls
Controls are generally defined as a systematic measure that is implemented by management to:
• Conduct business in an orderly and efficient manner;
• Safeguard assets and resources;
• Deter and detect errors, fraud, and theft; and
• Confirm accuracy and completeness of accounting data.
Risks identified in this Guide that are related to the HR function are not all equal in likelihood, impact or in financial significance.
The consideration to implement controls should have due regard to the cost benefit of mitigating identified risks.
A commonly asked question is ‘What is a relevant control?’ While there is no authoritative definition for relevant controls, there are
a number of factors that are relevant in determining which controls to implement. For example:
• Relevant controls often support more than one control objective. For instance, user access controls support the existence of financial transactions and segregation of duties. In most cases, a combination of relevant controls is an effective way to achieve a particular objective or series of objectives. Placing too much reliance on a single control could create a single point of failure.
• Preventive controls are typically more effective than detective controls. For example, preventing a fraud from occurring is far better than simply detecting it after the fact.
• Automated controls are generally more reliable than manual or process controls and the reliability of automated controls is dependent upon an entity maintaining an effective control environment. For example, automated controls that force periodic changes to user passwords are more reliable than generic policies.
Customisation vs configuration
The Gershon Review9 of 2008 stated that “Many submissions indicated that there are no specific inhibitors to using commercial off-the-shelf (COTS) solutions without customisation…there is often unnecessary excessive customisation by agencies. This erodes the inherent benefits offered by commercial off-the-shelf products, and increases costs.” The report noted that as a means to reduce expenditure, entities should reduce expenditure associated with customisation of software.
For the purposes of this Guide:
• Customisation is defined as programming changes made to the application that directly change the source code or the underlying table structures. Customisation may cause an increase in costs due to the difficulty of subsequent upgrades and could hinder future adoption of new features or functions that may be offered in later software releases.
• Configuration is defined as parameter changes that can be made without manipulating the source code or underlying table structures. Configuration is a non-invasive change to software settings or options that alters the business logic and configuration.
The system controls identified in the Online Supplement of this Guide as better practice considerations for implementation of effective system controls relate to available functionality, and do not require customisation.
www.anao.gov.au/~/media/Uploads/BPGs/2011/HRIM_Risks_and_Controls_2011.pdf