How to Use Benchmarking with Performance Metrics The question is ‘compared to what?’. It is important and we must measure our progress and compare our results today with our progress in the past, however is this enough? Do we need a better benchmark – an external benchmarking for our business performance. While we can still … Read more
What is the single KPI (only one) that can drive your business performance? While the majority of business organizations will answer that the single most important metric is the net profit – they are right but you need to come up with the one KPI which will motivate and directly drive your performance. … Read more
Easily Compare Your Actual and Target KPI / Metrics Values Are you struggling to visualize the performance of your key performance indicators (KPIs) and metrics? Look no further! Our Effective Actual vs Target Chart Excel is designed to help you effortlessly compare your actual results against your target values. With this user-friendly tool, you can … Read more
Performance Management All of these different levels of performance have to be linked to each other effectively to make sure all organizational activities on every level are streamlined and leveraged into the desired direction of achieving the overall strategic goals and objectives for the company. 1. Organizational Performance At the highest level of organizational performance … Read more
The Seven Quality Tools 1. Fishbone diagram Fishbone diagram or chart also known as cause and effect or Ishikawa chart / diagram is a quality management tool which is mainly used where there is a requirement for organized and structured grouping, segmentation or categorization of information and data. The fishbone analysis helps quality professionals to … Read more
Planning Management Succession Will your company be ready to potentially lose a large amount of employees all at the same time? Many companies operate without a succession plan. Truth be told, an official or at least unofficial succession plan should always be in place regardless of turnover anticipation. While today’s job market is slim and … Read more
Improving Customer Retention The specific time period is determined by the company’s specific business and average frequency of purchase by the customers. Retaining customers (reducing customer turnover) is critical for profitability and business success. Marketing and Sales Managers who develop Customer Retention approaches to improve the current retention rate are making very effective and profitable … Read more
Creating Reliable Measurement and Rewards System In today’s especially difficult economic climate, finding unique, clever ways to motivate employees to prevent turnover can be a challenge. Instituting a system of rewards is a smart option, as is integrating performance management and performance standards into the strategic planning and each individual job description and employee performance … Read more
Blue Ocean Strategy The four questions that are critical for developing blue ocean strategy: 1. What are the factors, which your industry takes for granted, but should be eliminated? This question helps you to think about removing certain elements which often organizations within your industry utilize as their competitive differentiators. All those factors are usually … Read more