About This Chapter
Introduction to Measuring Business Performance - Chapter Summary
This chapter offers an introduction to performance measurement in business. Designed for supervisors, the chapter's short lessons break down the fundamentals of key performance indicators (KPIs), performance analysis tools, balanced scorecard metrics and more.
Lessons are accompanied by quizzes that reinforce key terms and concepts. You can share these resources with your supervisors at any time, and the chapter is accessible on all Internet-enabled devices.
How It Helps
- Builds awareness: The chapter helps users to develop a high-level understanding of business performance measurement methods.
- Covers essential business KPIs: Lessons show employees in supervisory roles how to effectively measure and analyze business performance.
- Improves performance evaluations: Supervisors who work through the chapter will be able to use the balanced scorecard approach to improve the effectiveness of performance evaluations.
By the end of the chapter, your company's supervisors should be able to:
- Describe the importance of KPIs in business
- Use tools to measure and analyze business performance
- Interpret balanced scorecard metrics
- Utilize a balanced scorecard approach when conducting performance evaluations
1. What are Key Performance Indicators (KPIs)? - Definition & Business Importance
What are Key Performance Indicators and why are they important? In this lesson, more about these metrics, including what they are and what they mean to a business.
2. How to Measure Performance in Business: Tools & Examples
How can you measure performance in your business, and why would you want to do so? In this lesson we'll discuss common tools for performance measurement, why you'd use them, and what to do with the results.
3. Business Performance Analysis: Reports & Tools
There are a number of tools available to analyze business performance and generate informative reports about a business. This lesson explores those tools and reports and their use in business analysis.
4. What Is a Balanced Scorecard? - Metrics & Examples
One of the most effective ways to determine the success of one's business, product, strategy, or employees is to measure results via performance appraisals. This lesson discusses one form of performance appraisal, the balanced scorecard.
5. Balanced Scorecard Approach to Performance Evaluations
Companies set goals and visions for their future. In order to meet those goals and visions they must rely on business methods and tools. In this lesson, we'll learn about one of these tools, called a balanced scorecard.
6. Practical Application: Utilizing the Balanced Scorecard Approach
Companies use a balanced scorecard to assess their growth in several key ways. This practical application walks you through the four major areas on a balanced scorecard and an example scorecard you can use now to assess your organization.
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