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SBP017: What is a Key Performance Indicator (KPI)?
Roger Knocker • Jan 17, 2024
SBP017: What is a Key Performance Indicator (KPI)?
What is a Key Performance Indicator?
A KPI is a measure of performance used to measure Progress towards a target / a goal / a desired state.
A KPI is different from a metric. A metric is anything that can be measured:
- Height
- Length
- Weight
- The number Sales orders
- The Value of fixed assets
A metric becomes a KPI when you link it to a goal and have a clearly defined target to pursue and evaluate against. It also needs to be assigned to someone.
Tip:
Ensure that your KPIs are aligned to goals and have clearly define targets and someone is accountable.
9 Steps to Master Successful Strategy Execution with KPIs - This piece is a detailed step by step guide on how to master strategic execution. Unlock the secrets to successful strategy execution with KPIs. Learn 9 essential steps to master effective strategic execution and achieve your goals. through actionable objectives.
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