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Most Recent Articles
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- Balanced Scorecard Design Toolkit
Balanced Scorecard concept is about measure and control. The first step is to determine the goal of Balanced Scorecard: it should help to measure and control the performance of business unit. The next step is to assign a target performance values and develop a plan to archive the target results. The final step is controlling the performance, re-thinking business and separate business processes. Balanced Scorecard must be a document packed with performance information. That’s why it is the best way to share management and business goal ideas with colleagues.
Robert Kaplan and David Norton in early 1990’s suggested performance measurement perspectives: Financial Perspective, Customer Perspective, Internal Processes Perspective, Employee Learning and Growth Perspective. These perspectives are must-use basic groups. Even if it’s necessary to describe the business unit that is not involved in sales, financial perspective must be taken in account. Using these four perspectives is a guaranty that all aspects of business will be considered carefully. - How Many Key Performance Indicators Should Be Taken Into Account To Manage Business?
Managing large business is a hard task as CEO should take into account a lot of factors that affect or may affect business. It's important to see what business was in the past, what business is now and what it is going to be.
On of the approaches to managing business is developing key performance indicators which will tell how the business is working, where the problems are and what can be done about this. Business performance indicators base on metrics as a way to measure performance in numbers, for instance, if CEO should evaluate and manage it security within a company, then "Security Controls" metric should be developed to determine the efficiency of closing significant system weaknesses. - You Company Is Growing Fast? It's A Time To Think About Possible Information Leakages.
Do you know all possible ways to take information out of company so that no one would know about this? I'm sure, even there are some certain security rules there are still some possible ways for information leakage. Let's think about how can we control this process.
First, it's necessary to understand that there no any absolute means about security. Even if USB port it blocked, it's still possible to write some data to USB, if there is system that controls outgoing mails, then it's still possible to use some trick that intruder might use to send out important data out of the company. - Get A Valuable Feedback From Your Presentation
It's quite easy to prepare presentation and do a speech, actually you will still need some skills, but there are many people and services willing to help you with slides. Some suggest you a custom tools, which will simplify the process of PowerPoint presentation development, other suggest to buy a nice looking graphics, so that your presentation will look professional.
What do you miss? If you have the most successful slides in the world you will still need to prepare a nice speech and make people who listen to you believe what you talk about. It's really important not just to talk about the topic, but get the feedback. - Kpi Start-up - Learn How To Design, Fill With Data And Use Key Performance Indicators
KPI term is for key performance indicators, the KPI concept is about measuring and controlling business performance focusing on the most important performance indicators. Does this concept works? How to make use of it?
There might be a number of viewpoints on KPI, and this concept can be used on various level of organization. For instance, CEO might use KPI to measure and control business, also, some managers can design and use KPI for their department. - World-clock: What Time Is In Japan Now?
Computer clocks are they for fun or for profit? I guess both. If you are doing international business, then I'm sure you'd like to know what the time is now in Tokyo, I know it's easy to calculate the time difference, but I guess it's not what most people like to do. That is the reason why most market traders put the analogue clock on the wall to see what the time is.
People like to have visually appealing clocks and it is confirmed by what Microsoft company is doing now. Old days there were just clocks in system tray, telling the time in format "10:41", for now in Vista you will find nice looking analog clock with looks more like wrist-watch clock that digital clocks. - Balanced Scorecard Vs. Kpi
Balanced Scorecard concept reefers to the theory of metrics linked by the specific rules, where the total value is calculated using specific formulas. Balanced Scorecard is talked a lot about, but there are some applications of Balanced Scorecard concept which are sometime overlooked.
For instance, combination of metrics, used in Balanced Scorecard can be easily used for benchmarking, e.g. comparing your product or service against competitors. What metrics should be used to compare your product to your rival's solution? There are many opinions, but the most reasonable answer sounds as: "Why should I reinvent something new, I can use the same metrics as I use for my business". - Performance Managed Customer Support Service
Customer service is not something which will generate you a sales directly, but customer service is something that is really important for any business. Actually, good customer service can generate you a sales as good as a well-trained sales agent does. The question is: how to make a customer serviced that will generate sales?
The answers must focus on measure and control. One must measure and control the performance of call center trying to identify potential problems and good solutions, it's important to find and share both - good and bad experience, it's important to make a training process perfect, it's important to make the control process better than ever, as it's very easy with up today technologies. - Measure And Control Human Resources Performance
The business success is about taking right people to the right place on right time. So what is the problem? Actually, if you need to manage not one, but five employees or better five groups of employees, then you face the problem of measuring and control. It's hard to tell whether one group is performing better or not, it becoming hard to compare one employees success against other one, it's hard to see the unique features of people. So what the solution is? The key metrics and key indicators, which will tell you how to manage your stuff right.
There are two approaches I suggest to take into account when thinking about human resources (HR) at your company. First, you can think in terms of process, second you can think it terms of how do employees affect the whole business. - Metrics To Measure And Control The Performance Of Sales Department
The salespeople and company sales force are those who actually generate your income dollars. Sure, it's important to have a good product, support which can respond fast, pretty design and make people write about your company in magazines, but still the most important part is to get the resulted leads converted into actual dollars.
It's quite easy to organize the sales department. For instance, you can hire someone who have experience in managing this kind of department in other company. He or she will hire a team of sales professionals and they will generate some revenue for your business. - Metrics For Talented Employees
What is the most important task of any HR department? I think the one thing they can do is to find and keep talented people within company. The problem is that these people are usually not like others (that's why you want to hire they!), they do not pay much attention to salary you suggest, they don't want to have stock options and don't think in terms of profit and loose. You goal is to find these people, hire them and keep them in company as long as you can. That is the main goal of any HR department.
Let's discuss how to manage talents in your company. The first task is to find gifted people, I'm sure you know how to find people to hire, but the task here is to find talented? How to do it? Well, I cannot advise much here, you will need to talk with hundreds to find the one, more over you will probably need to provide some people with test job to find the right person. But there is an indicator that you are performing well: if you will find something that is not usual and is extraordinary, pay attention to this person. - Cutting Call-center Costs
The call-center is theoretically the place with a lot of phones and people sitting next to each other talking at the same time. But does this is a call-center you should dream about? I'd prefer if my phone would ring just few times a day with a very particular questions, focused on my business or better sales-oriented question.
There is a lot you can do to cut your call-center expenses. But the first step is to measure them and measure the performance of your call-center. It's a good idea to start with running costs. How much does it cost to run a single seat? What if you will be outsourcing some questions to a more cheaper operator. More over, there are some questions that your web-site can answer easily, for instance if you will put product brochures, manuals or frequently asked questions online, then you will save huge time. - Call Center Performance Management
Call Centers, or customer services receiving and transmitting multiple requests by telephone, were introduced as offshoots of telecommunications providing streamlined service for consumers of large companies with extensive customer support needs. Normally, a call center is able to handle a considerable volume of calls at the same time, i.e. to screen calls and forward them to skilled support staff, where most issues can be resolved. Organizations starting from mail-order catalog companies and telemarketing companies to computer product help desks use call centers.
Typically, there are two types of calls ? inbound and outbound. The latter suggests the agent's calling potential customers with intentions to sell or service which is amply used in telemarketing. Apart from it inbound calls are made by the customer to get information or ask for help reporting malfunction of the product.
That's where the problem of management performance is acute. Performance measures and benchmarking are indispensable to any well-run call center to eliminate criticism of call centers on common themes such as non-expert operators, poor training of agents incapable to process customers' requests effectively, automated queuing systems resulting in long hold times, operators working from a script, etc. Benchmarking, typically associated with strategic management, presupposes evaluation of business processes in relation to best practice and helps to develop plans with the aim of increasing performance levels. At large benchmarking reforms all the levels of the company ? from the state of mind of the employees to that of top managers, penetrating into the whole hierarchical organization of the organization. The gist of benchmarking is to break the resistance to change by employing methods different from the currently used ones that might be less effective in order to increase certain aspects of performance. - It Is Important To Measure A Performance
Is it really important to measure a business performance? I think if you will even need to purchase someone's business, then you will never ask this question and the answer will be "Yes! Sure!", because if you do not measure the performance of the business that you are going to purchase you will be going blind. Then why people don't like to measure the performance of their own businesses?
When you are inside, you see a lot, I would say you can see to much business and business mechanism, you are flowed with unimportant data, you having too many things to care about and sometime you even don't understand where this business is going. If you are a manager, then it is not a problem, but if you are CEO, then you have to think about things like this. - Helpdesk Performance Metrics
As more and more business are making use of helpdesks to interact with customers, both in terms of orders and customer complaints or technical questions, it is apparent that such call centers should have standardized measurements to use in determining level of performance for both the individual customer representative and the entire facility. Some of the common performance measurements which are used to track helpdesk performance are listed below.
Wait time in the queue - This is usually stated in minutes on the average, that the caller is likely to experience in the wait line. Some helpdesk software will inform the caller with statements such as 'the estimated wait time is XX minutes' The caller can then determine whether or not he wants to wait for a helpdesk professional to come on the line. - Business Kpi: Measurement Of Success
Business KPI or business key performance indicators are also known as key success indicators (KSI) are created for the purpose of measuring and defining the progress of the organization toward reaching its stated goals. When a business goes through the process of analyzing its mission, naming those who have a stake in the mission and stating its goals, the business then ready to define how it will measure the progress toward reaching the goals. These measurements are known as key performance indicators.
Several characteristics of key performance indicators are important to keep in mind in selecting them - Call Center Kpi's - Getting The Most Out Of Metrics
A business adage is that you can't manage what you don't measure, but given the huge amounts of data available where do you begin ?
Implementing a software based CRM will allow you to rapidly collect data from a huge array of sources, while integrating this with other data collection processes such as accounting, will produce even more. So where do we start with all of this and, more importantly, at what point do we need to stop. First principles, ask yourself how is the call center performing? If you can't answer that question but have reams of performance metrics pouring out of your ears, this article is for you. - Call Center Management - Problems With Kpi Measurement
Using KPI's for performance measurement is a well documented, tried and tested management tool. Issues arise however, with what the metrics are actually telling us and the validity of the underlying raw data. You can see what we mean when you consider some of the top metrics commonly used to measure call center performance; call quality, service level, customer satisfaction, average speed of answer, first call resolution, employee satisfaction and so on. The fact is that many of these metrics are subjective and not qualitative.
Achieving consistency across the metrics being gathered becomes even more problematic when you consider the number of different sources from which the raw data is collected. Call time is easily and accurately measured, however customer satisfaction comes from the customer themselves and one customers perception will differ from another and the same applies to employee satisfaction. Other KPI metrics, such as adherence to call center telephone policies will fall to be reported by a supervisor or other observer adding yet another source of metric data and broadening the problem of consistency with the raw data. - Brand Evaluation Using Balanced Scorecard And Kpi
Strong brand is the most valuable intangible asset of the company. Although brands are not listed on corporate balance sheets, they play key role in determining the company's success in the long-term perspective. Successful brands allow companies to effectively manage premium prices, reduce relative power of the trade, increase communication effectiveness, attract managerial talent, and reduce vulnerability to downturns. Scorecards or KPIs based on the drivers of brand value, provide focused and actionable measures for optimal brand management.
According to the research conducted by Interbrand, one of the leading brand consultancies, strong brands account for over a third of shareholder value. Share prices of companies with well-known brands have significantly higher investment returns and lower risk rate when compared to the stock market as a whole. - Measure Customer Service Performance: How To Treat A Customer Like A Customer.
There are many measurements and choices of what to measure in order to decide whether an adequate guarantee of customer service is being met. However, it is unfortunate that many businesses select the wrong factors to measure or the select the correct elements to measure but make some logic leaps which means the collected data is false or misleading.
A frequent error is to make the assumption that any two or more metrics can separated from the others. As an example, a business call center may measure an employee's performance level by setting maximum average times to complete a customer call. On the corporate level, management may count the number of calls handled during a specific time period and assume that more calls answered means better service. - Sales Performance: How To Measure The Effectiveness Of The Sales Department
The performance of the sales department of your organization is probably tied to such measurements as the total revenue or sales revenue per product. You may even have geographical information such as revenue from the Northwest or the Gulf States. But in truth, the revenue is not a totally effective tool to measure the effectiveness of the sales department. As with any key performance indicators, there need to be a combination of measures which take into account by the scope and the quantity.
Calculating the revenue produced with the existing sales department is simple. It's a mathematical calculation. But, by drilling down in the key performance indicators for the sales department, you begin to get a better picture of the effectiveness of the sales department. For example, if the only performance indicator used for the sales department is the revenue for the company, the changes in revenue may have nothing to do with the sales department at all. It could be the effectiveness of the marketing campaign, or it could be the fact that the only other supplier of the product just went out of business. Perhaps the niche group that you're selling the product to just became much larger, such as a product which targets people over the age of retirement. - Determining Kpi Metrics For Measuring Brand Impact On Your Business
The idea of a brand is deeply rooted in the psyche of managers as being associated with the delivery of tangible products to consumers but today we are increasingly delivering intangible services rather than goods so is branding still relevant. Traditionally a business has been viewed by senior management as split into discrete divisions, sales and marketing, production, HR, IT, legal and accounting. Some divisions created revenue and b the brand identity was important for customer recognition and action needed to be taken to maximize that while other divisions created cost that reduced the brand value and this needed to be cut. Following this methodology would logically result in increased profits.
This led in practice to highly dysfunctional decision making with, for example, IT staff being cut only for decreased effectiveness across the business producing reducing sales generation and increasing costs in other parts of the business. - Making The Most Of Your Supply Chain Metrics To Leverage Competitive Advantage
The majority of KPI dashboards are in fact overloaded with metrics and the key to getting the most out of your SCM intelligence is in choosing the most appropriate metrics that are key to providing decision makers with the necessary information to deliver informed decisions when they need it. Using dashboards that are carrying large numbers of KPI's does not deliver information to SCM managers so they can make optimal decisions. Focusing on the key metrics that identify the main source of SCM business performance is vital and reducing the number of metrics used allows managers to understand better and far more intuitively what a metric is actually trying to tell them.
"Less is more" or TMI (Too Much Information) are two of the comments that you will hear from SCM experts who truly understand the components of the business supply chain from procurement, processing and through to customer delivery. In the very recent few years, with the introduction of RFID technology that allows tagging of containers, pallets and individual shipment items replete with a mass of raw data on content, models, color, specification, origination and so on , it is extremely tempting to dive in and start thinking that all this data that we are now routinely able to collect and collate can somehow be manipulated to provide SCM managers with even more information that will help them make better and more profitable decisions. - property metrics,property scorecard,real estate,real estate metrics,real estate scorecard
Getting your supply chain management right can give your business competitive advantage by lowering costs, greater efficiency and improving customer satisfaction by getting goods to customers faster. The impact of technology with the use of RFID tags to track pallets and shipments electronically and merging this into the stock and order management system is making the SCM aspect of a business an area of substantial opportunity for creating competitive advantage.
Now that all sounds fantastic with the ability to track individual shipments through the supply chain and maintaining data on product, serial codes, description, quantity and so on. Combining RFID data with barcode information creates even more information that can be manipulated and collected. - Top Ten Real Estate Performance Metrics For Your Property Scorecard
Today we are in an enviable position with the technology resources available to us that allow collection and almost instantaneous data manipulation and presentation for management. We are now in a position of tracking metrics for our property scorecard that a few short years ago were simply not possible. Unfortunately this massive information collection capacity leads to other problems such as information overload and developing a true understanding of what the metrics are telling us. Ensuring that real estate managers are developing real skill to unleash the potential that metrics and a property scorecard gives them is still an issue, not only using the scorecard to track performance but to use the KPI's to forecast business health and prescribe solutions for problems diagnosed.
So, without any further ado, here are the top ten real estate metrics for your property scorecard:
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