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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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