From the course: Business Math
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How many KPIs should an organization have?
From the course: Business Math
How many KPIs should an organization have?
- Organizations use many numbers as they monitor performance on a daily basis. The most important of these numbers are called key performance indicators or KPIs. For example, a retail store chain might carefully track its sales per square foot. A higher number means that the company is using its building more efficiently to generate sales. A high tech company might track its overall research and development spending, as well as the amount it spends on R&D per employee. It makes sense for all businesses to numerically measure and monitor customer and employee satisfaction. Here's a little history about key performance indicators or KPIs. In the 1870s, Albert Fink was an executive for the Louisville and Nashville Railroad. The financial panic of 1873 placed financial stress on the railroad and caused Mr. Fink to look closely at railroad costs. He focused on just a few key measures, the most prominent being the cost per ton mile, the cost of shipping one ton of freight one mile. Mr. Fink…
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Contents
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Numerical planning and everyday decisions4m 42s
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Create, monitor, and evaluate your budget4m 29s
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How many KPIs should an organization have?6m 21s
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How the market responds so fast to an earnings announcement3m 42s
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Forecast the timing and amount of a business loan6m 1s
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