Monitoring change - Other monitoring systems

4 important questions on Monitoring change - Other monitoring systems

What is the balanced score card (monitoring)?

It links the:
  • Vision and strategy to the financials
  • The internal business processes
  • The learning and growth
  • The customers.
Every perspective has four goals, and each goal has two KPIs. 

What are KPI's (monitoring)?

Key performance indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect strategic performance of an organisation.

For example, a goal is to increase new accounts by 155 in 2015. The KPI is 120 new accounts per region.

What are KSFs (monitoring)?

An industry's key success factors (KSFs) are competitive factors that most affect industry members' ability to succeed in the marketplace. There are usually 5/6 KSFs.
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Which three questions does a company need to ask itself to determine KSFs (monitoring)?

  1. What product attributes are critical?
  2. What resources and competitive capabilities does a company need to be competitively successful?
  3. What shortcomings are going to give the company a disadvantage?

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