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Business
Excellence Tools for Improvement
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This page
is
a service provided by TQA to provide access to educational tools for
quality and business improvements. Improving performance involves
applying the appropriate methods to become better, faster and more
cost-effective. These tools will allow you to apply a systematic
approach to your improvement strategies. TQA will routinely change
to featured tool.
Key Performance Indicators; a.k.a.
KPIs
KPIs are extremely useful in achieving
results that count and can lead to Business Excellence;
IF they are properly employed. We
can think of KPIs as those performance measures that are true
indicators of the health of the business.
It is similar
to some of the key health metrics that are used to determine our
state of health. These might include Body Mass Index (BMI),
Cholesterol levels, Blood Counts, Pulse Rate, Blood Pressure,
etc. Why do physicians focus in on these? Because they are Key
Indicators of our health or lack of it.
Top level
business KPIs typically include Revenue/Growth, Pretax Profit or
EBITDA, Market Penetration, Customer Satisfaction, New Products
as a % of the Total Portfolio, etc.
Beginning
this month, TQA will issue a series of articles, which can help
your organization use KPIs in a way that bring excellent
results.
The first article is a "KPI
Tutorial", including a collection of questions to consider when
viewing KPI output. Click on the download button to view this
tutorial. (Note: the next article in this series will enumerate
the "7 Deadly KPI Sins")
It
is important to remember that KPIs do not
produce business excellence but acting on them in an appropriate
way can!
Submitted:
January 2011 |
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