Key Performance Indicator

Examples of Key Performance Indicator in the following topics:

• The Importance of Performance Targets

  • Managerial effectiveness is often assessed on the ability to achieve performance targets.
  • Three basic concepts are involved in communicating and achieving targets: key performance indicators, goal setting, and motivation.
  • A key performance indicator is a tool for performance measurement used by organizations.
  • It is used to set a performance standard for an organization, a business unit, or an employee.
  • Challenging goals tend to result in higher performance than easy or no goals.

• The Myers-Briggs Personality Types

  • The Myers-Briggs Type Indicator is a commonly used personality test exploring 16 personality types.
  • The Myers-Briggs Type Indicator (MBTI) assessment is a questionnaire designed to measure the psychological preferences that shape how people perceive the world and make decisions.
  • That initial questionnaire grew into the Myers-Briggs Type Indicator, which was first published in 1962.
  • Management can use this tool to minimize conflict and optimize performance.

• Scorecard Measurement

  • These concrete objectives allow the actual performance data to resonate and generate meaningful results.
  • Gap analysis is a tool that helps companies compare actual performance with potential performance.
  • If a company or organization does not make the best use of existing resources, or foregoes investment in capital or technology, it may produce or perform below its potential.
  • What is important is that the data collected should be appropriately analyzed within the context of the targets and performance goals of the organization.
  • Indicate the value of measuring progress on objectives in effectively employing a score card in the workplace

• Cognitive Biases as a Barrier to Decision Making

  • The Myers-Briggs Type Indicator (MBTI) is a widely used diagnostic for identifying personality characteristics.
  • It is the perception, for example, that if someone does well in a certain area, then they will automatically perform well at something else regardless of whether those tasks are related.
  • This can include the certainty one feels in her own ability, performance, level of control, or chance of success.

• Key Behaviors of Transactional Leaders

  • Transactional leaders focus on performance, promote success with rewards and punishments, and maintain compliance with organizational norms.
  • Transactional leaders focus on managing and supervising their employees and on facilitating group performance.
  • Respond to deviations from expected outcomes and identify corrective actions to improve performance
  • The rules for a sports team allow for little flexibility, and adherence to organizational norms is key; even so, effective coaches can motivate their team members to play and win, even at risk to themselves.
  • Performance ratings can be used to measure results.

• Building a Culture of High Performance

  • A high-performing culture is defined by a focus on generating and accomplishing objectives.
  • An effective way to achieve high-performing culture is to create high-performing teams.
  • High-performance teams are a central building block of high-performance culture, and they thrive in innovative and empowering environments.
  • In short, shared values are key to creating strong team dynamics.
  • Open and clear communication – As always with group dynamics, communication is key to success.

• Measuring Organizational Performance

  • Performance measurement provides useful insights for conducting annual reviews of managers and employees and is also important for understanding how a company is performing compared with its competitors.
  • There are many different performance measurement tools available, such as organizational and employee performance evaluations.
  • Developing performance metrics usually follows a process of:
  • Best practices: In the context of evaluating internal operations (comparing core processes to effectiveness and efficiency standards), how does current performance compare to benchmarks of past performance, performance in the industry, and political expectations?
  • While there are a wide variety of perspectives on controlling performance, each more or less appropriate depending on the objectives and industry of the organization, a few key metrics exist.

• Consolidation Strategy

  • The dominant rationale used to explain M&A activity is that acquiring firms seek improved financial performance.
  • The following motives are considered to improve financial performance: economy of scale, economy of scope, increased revenue or market share, cross-selling, synergy, taxation, geographical or other diversification, resource transfer, vertical integration, and hiring.
  • However, on average and across the most commonly studied variables, acquiring firms' financial performance does not positively change as a function of their acquisition activity (King, D.
  • "Meta-analyses of Post-acquisition Performance: Indications of Unidentified Moderators."

• Team Communication

  • Effective communication is often a key to the successful performance of team tasks.
  • When team members communicate well, they can avoid common pitfalls such as misunderstandings, lack of trust, and conflict that can undermine team performance.
  • These include lack of shared vocabulary or understanding of key task-related concepts, divergent personal styles of expression, and insensitivity to differences in individual characteristics such as age or gender.

• Delivering Constructive Feedback

  • Constructive feedback, both positive and negative, can help individuals learn and improve their performance.
  • Critical assessments are essential to learning and performance improvement.
  • A performance appraisal (PA) or performance evaluation is a systematic and periodic process that assesses an individual employee's job performance and productivity in relation to certain established criteria and organizational objectives.
  • While performance appraisals are documented in writing, usually a manager will meet to provide and discuss feedback with an employee.
  • This after-action review entails a candid analysis of work product, communication practices, individual effort, coordination and planning, and other key aspects related to the project.