Determining of key performance indicators in business
CitationMazlum, Ahmet Rasim. (2017). Determining of key performance indicators in business. (Yayımlanmamış yüksek lisans tezi). İstanbul Ticaret Üniversitesi, Sosyal Bilimler Enstitüsü, İşletme, İstanbul
As a result of technological developments, the impact of globalization on the social and economic environment is rapidly and constantly changing. Since increasing competition is not only within the borders of the country, all businesses have up-to- date strategies and have to put them into practice. Many state and private sector businesses, which are aware of this change, have sought to find a strategy that is diverse, feasible and capable of achieving their goals. In addition, performance management plays an important role to sustain companies’ assets and competitiveness. In this sense, key performance indicators (KPIs) that are the cornerstone of performance management are defined and explained in this study. KPIs are financial or non-financial metrics used to quantify objectives to reflect the strategic performance of the organization. Characteristics, principles of KPIs are mentioned respectively. The aim of this study is to show how businesses can determine which KPI is the best for their companies in order to reach their goals. Choosing the right KPIs have been mentioned in Chapter 1 in detail. Some examples of the KPIs are also given at the end of this section. In Chapter 2, the concepts of performance and performance management have been emphasized in detail. Then, “Balanced Scorecard Method” (BSM) which is one of the multi-dimensional performance measurement methods is discussed. Balanced scorecard measurements are a management system that allows organizations to clarify their visions and strategies and transform them into action.