Business Management Metrics
Business Management Balanced Scorecard Metrics Pack
The pack includes 6 Business Management metrics:
- Business Mission and Vision. For smooth functioning of a business it is important to have a fair degree of appropriateness in the formulation of mission, vision and values. The idea is to make these criteria always focused and relevant. KPIs in this regard can be formally placed under four major perspectives- Strategic Intent, Shareholder Value Perspective, Customer Value Perspective and Other Stakeholder Value Perspective.
- Business Strategy. It is imperative for the management of an organization to follow the performance of strategy that has been formulated after a long enough analysis of the operations. KPIs can be put in place to effectively achieve this end. Some of the key areas that KPIs can be used to consider are Financial Perspective, Customer Perspective, Internal Processes and Education and Growth.
- Public Sector. Public Sector Organizations are often an integral part of the government and carry out several key functions on its behalf. These agencies are accountable for their workings not only to the government but also to the people they serve directly or indirectly. KPIs can be used as a great tool to effectively manage the operations of these units. KPIs in Public Sector Organizations can be formulated under four perspectives- financial, internal processes, citizen focus and H.R. and growth perspective.
- Non-Profit. Non-profit organizations play a important role in the development of any society through their efforts taken in the public interest. As these entities work from the perspective of charity; therefore the task of performance management in these organizations should be carried out with great care. In this regard, KPIs can be arranged under four main perspectives- financial, customer, process and learning and growth.
- Private Sector. While keeping profit generation as their top priority, private sector organizations require a standard framework that can help in providing a holistic view of all the business activities and can guide the organization towards a right path. KPIs can be effectively used in this context to facilitate such a business to deal with the crucial issues with ease. KPIs for Private Sector Organizations can be tagged under four major perspectives- financial, customer, internal processes and employee.
- Service Level Agreement. Devising a service level agreement is an inherently complex task and it is always advisable to use proven strategies to negotiate this task. BSC (Balanced Scorecard) is a strategy for counting the progress that is being made in a given direction. Thus, when it comes to SLAs, the principle holds quite well and helps in calculating the steps in an impartial and unbiased fashion. The categories that can be used for this purpose are ‘structure’, ‘usage’, ‘quality’ and ‘delivery’.
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