| > | | | | between and amongst companies that belong to the |
| For a company to use the most appropriate KPIs for | | | | same industry. This is simply because no two or three |
| their balanced scorecards, much research should be | | | | companies would have the same needs to attend to |
| done. Companies should be prepared to shell out just | | | | and the same goals to achieve. Thus, there would be |
| that. When it comes to the development of KPI, or key | | | | inevitable differences in the KPIs that companies would |
| performance indicators, there is a need for the | | | | make use of. The underlying principle would always be |
| company concerned to do a certain amount of | | | | the fact that the KPIs would depend on the very |
| research. This has to be done so that the proper | | | | nature of the organization. For the typical school or |
| identification of KPIs can then be facilitated. After all, it | | | | university, a useful metric would be the rate or number |
| would be the organization itself that would be affected | | | | of graduates per academic year. For a call center, a |
| by the implementation of the balanced scorecard, | | | | key metric could be the AHT or the average handling |
| which would contain the KPIs identified, right? Thus, it | | | | time. For the typical business, one of the key metrics |
| would be better to go about the process the right | | | | could be the number of return customers, or even |
| way, so that only the proper KPIs would be identified | | | | CSAT or customer satisfaction. Now, with this last |
| and then plotted out onto the balanced scorecard to | | | | metric, you could very well say that this can be used |
| be used by the organization itself. | | | | by both the business and the call center, simply |
| Let us go back to the very first step in building an | | | | because there are customers to satisfy in the |
| organization or company. When your organization is | | | | process. However, this is the classic example of how |
| done analyzing its mission and vision, and it has | | | | companies have different needs. The way the typical |
| identified all of the possible stockholders, then the next | | | | business measures CSAT would certainly be different |
| thing to do is to analyze what goals and objectives it | | | | from the way the call center measures it. Thus, it is |
| wants to achieve. These goals and objectives would | | | | important for the KPIs to reflect the nature and the |
| surely be both short-term and long-term. To check on | | | | needs of the organization that they work for itself. |
| the progress of the organization towards the | | | | The only way to do this is to analyze the nature, |
| achievement of these goals and objectives, it would | | | | needs, goals, and objectives of your organization. This |
| be better to implement a systematic way to measure | | | | way, you can choose the most appropriate KPIs to |
| such progress. Here lies the importance of KPIs. | | | | use for your company. And this entails further |
| KPIs are the quantifiable measures that reflect CSFs | | | | research into the matter. This is precisely why |
| or critical success factors of a business or | | | | companies need to do extensive research when they |
| organization. Since companies have different needs, | | | | are in the process of developing the KPIs to use for |
| goals, and objectives, then it is inevitable for KPIs to be | | | | the BSCs. |
| different as well. Yes, they would still be different | | | | |