Are key performance indicators KPI necessary for success?

[tyrim88]

I feel it is not a compulsory issue rather it is a necessity,this will really work for the large scale and not the smaller scale business that are still struggling with o survive

I think it would not only be a factor that would be applicable to large organisation only,because any business that is desirious of growth would apply such measure to measure growth.

 

[Syldan]

Yes, as you have said, they are key indicators which shows if the business organisation is moving forward or it has some setbacks. If you as an entrepreneur knows much about the performance of your organisation, it helps you in making policies to promote your interest.

 

[Josephjossy]

i need any business needs it. it will make you understand if your business is gong up or going down. you need to be analyzing your business from time to time

 

[tyrim88]

That is very true and correct,because any serious business man would set goals and objective for his organisaton and possibly timeline to acheive such,and and some analysis are put in place to know if these goals are being meet.It will tell how the firm is doing.

 

[Sincerem]

KPI is important factor to take note of as a business owner. Because this serve as a indicator for the growth rate and efficiency of the business. This would enable the business to know it flaws and this improve on it.

 

[Shigobad20201]

The key performance indicator will helps you in knowing if your business is doing well or you are running at loss , and like you said , the key performance indicators helps with your business in many ways.

i need any business needs it. it will make you understand if your business is gong up or going down. you need to be analyzing your business from time to time

 

[Sotherefore]

Most business organisation here are not making use of that. They are always trying as much to manage the business they have established on their own. I believe with good management the progress of a business can perfectly be predicted

 

[tyrim88]

Not everyone is familiar with Key Performance Indicators because it isn’t a core value in all business or organizations. KPI are set of performance measurements that shows how effective an organization is achieving their goals and key objectives. They are called indicators which means they require data to help measure and track performance over time which means there can be failure of data are not accurately collected.


Do you really think KPI is the determination of a business success?

Definitelly they are things the business owners usually put in place to ensure that their set goals in the short term and long trem as well are actually measurable and fall in line with the projected success they want to acheive.