Are Key Performance Indicators (KPI’s) necessary for success?

Business Exposure Group

During a recent Business Exposure Group meeting the question raised was ‘whether Key Performance Indicators (KPI’s) were necessary for success’. 

What became clear from the start was that the MD’s around the table were from two different schools of thought.  There were those who swore by them explaining that KPI’s tell the business owner the reality of the business.  Stating it allows the owner to react and make constant changes to the operation of the business, instead of waiting until it is too late.

Others, around the table, took the view that KPI’s only look at the past.  The metrics can concentrate on the wrong goals and therefore what’s the point.

However, after a lively debate, all agreed that KPI’s are important to a business because it helps all staff to focus on common goals and ensure that those goals stay aligned within the business.  KPI’s help the business to…

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