I have heard my HR dept head speaking of balance score card and KPI and my query is what is KPI? what is its full form, how is it calculated? Thanks Liz
From Australia, Adelaide
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10From Australia, Adelaide
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KPI STANDS FOR 'KEY PERFORMANCE INDICATORS'. These are performance targets set by management for various levels of staff on an annual basis as part of the planning/budgeting process.
EXAMPLES:
1. SALESPERSON
- ACHIEVE A MARKET SHARE OF 15% IN YOUR TERRITORY.
2. CUSTOMER SERVICE MANAGER
- ACHIEVE A 95% LEVEL OF CUSTOMER SATISFACTION, etc.
EVERY DEPARTMENT/INDIVIDUAL HAS A 'KPI'. THE BALANCED SCORECARD IS THE MANAGEMENT SYSTEM USED TO TRACK THESE KPIs.
REGARDS,
LEO LINGHAM
From India, Mumbai
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EXAMPLES:
1. SALESPERSON
- ACHIEVE A MARKET SHARE OF 15% IN YOUR TERRITORY.
2. CUSTOMER SERVICE MANAGER
- ACHIEVE A 95% LEVEL OF CUSTOMER SATISFACTION, etc.
EVERY DEPARTMENT/INDIVIDUAL HAS A 'KPI'. THE BALANCED SCORECARD IS THE MANAGEMENT SYSTEM USED TO TRACK THESE KPIs.
REGARDS,
LEO LINGHAM
From India, Mumbai
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Balanced Scorecard.zip
Balanced Scorecard.pdf