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Succession – key performance indicators

In Family Business Succession Planning Guides and comments on March 13, 2011 at 5:56 pm

Key performance indicators (KPI’s) are some measurable data related to the operation of your business.  For example, in the movie outsourced, the goal was to reduce the time per phone call for a call centre from 5 minutes down to 2 minutes.  This was a measurable outcome, had little, if anything to do directly with the financial operation of the business.  However, it did provide a measurable and most importantly tangible target for all of the staff to work towards.

What are your KPI’s?  The attached article is enlightening.

http://www.ap-institute.com/Key%20Performance%20Indicators.html

Now that you have considered this matter, what are some of the more important operational measures in our business?

Once you have established these measures, then you should determine

1.  how to gather this information

2. set a baseline for the numbers

3. establish targets for the KPI

4. follow up on a regular basis with a measurement of the KPI

5. determine corrective action, if any

Good luck.

Learn, think, apply.

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  2. […] 1.  have you identified the company’s key performance indicators (KPI’s), http://successinsuccession.wordpress.com/2011/03/13/succession-key-performance-indicators/ […]

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