Dear All, Can anybody help with the KRAs of the Director of the company? We are a travel-based company Reagrds Jhuma
From India, Mumbai
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82From India, Mumbai
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Hi Jhuma,
Ideally, it would need to cover mainly the following areas, like:
- Internal operations
- Market development
- Profitability
- Organizational structure
- Organizational vision and mission
- Asset and liability management
- Board of directors' relationship
- Productivity
- Financial strategy
- Business development
- Technology
- Customer satisfaction
- Community relations
- Regulatory compliance
Do let me know if this helps.
Thanks,
Dia
From India, Bangalore
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Ideally, it would need to cover mainly the following areas, like:
- Internal operations
- Market development
- Profitability
- Organizational structure
- Organizational vision and mission
- Asset and liability management
- Board of directors' relationship
- Productivity
- Financial strategy
- Business development
- Technology
- Customer satisfaction
- Community relations
- Regulatory compliance
Do let me know if this helps.
Thanks,
Dia
From India, Bangalore
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The trick to devising good, or rather smart, objectives for a Director of Marketing lies in understanding the management vision and the planned forecast, especially in a product-related business setting.
Key Result Areas for a Director of Marketing
For a Director of Marketing, the general three KRAs (Key Result Areas), which more or less remain the same throughout, are:
1. Sales to be achieved (topline)
2. EBIT (profits)
3. New business clients/ventures/products introductions, etc.
A fourth KRA could be related to Customer Feedback, specific market regions/territories (domestic/exports), increase in the number of customers/traders, etc. The fifth KRA could be related to his skills/abilities/competencies in leadership, teamwork, problem-solving, multitasking, strategic thinking, etc., which are desirable.
Challenges in Preparing KRA-KPI
The real challenge in preparing the KRA-KPI (Key Performance Indicators) lies in writing down the KPIs so that they give a clear indication of how performance is to be measured. Remember the word "SMART." The "SMARTer" the objectives (both the KRA and the KPIs) are, the easier it is to measure performance. However, the KPIs are generally figures—so they are quantitative—or could be related to time (which is measurable) or activities (either done or not done). Therefore, the key to ensuring that objective setting is perfect is to make sure the KPIs are "SMART" and not difficult to understand.
I hope you find my views useful.
Cheers,
A.B.
From India, Mumbai
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Key Result Areas for a Director of Marketing
For a Director of Marketing, the general three KRAs (Key Result Areas), which more or less remain the same throughout, are:
1. Sales to be achieved (topline)
2. EBIT (profits)
3. New business clients/ventures/products introductions, etc.
A fourth KRA could be related to Customer Feedback, specific market regions/territories (domestic/exports), increase in the number of customers/traders, etc. The fifth KRA could be related to his skills/abilities/competencies in leadership, teamwork, problem-solving, multitasking, strategic thinking, etc., which are desirable.
Challenges in Preparing KRA-KPI
The real challenge in preparing the KRA-KPI (Key Performance Indicators) lies in writing down the KPIs so that they give a clear indication of how performance is to be measured. Remember the word "SMART." The "SMARTer" the objectives (both the KRA and the KPIs) are, the easier it is to measure performance. However, the KPIs are generally figures—so they are quantitative—or could be related to time (which is measurable) or activities (either done or not done). Therefore, the key to ensuring that objective setting is perfect is to make sure the KPIs are "SMART" and not difficult to understand.
I hope you find my views useful.
Cheers,
A.B.
From India, Mumbai
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