Mastering KPIs: 11 KPIs to Revolutionise your Business
A review of the 11 "essential" business KPIs offered by Forbes Magazine along with other useful measures
The idea that there are only 11 Key performance indicators that any organisation needs to operate effectively is one put forward by Forbes magazine in a 2023 article. This is a brave statement given the wide range of products and services offered to widely differing customers and markets by companies with different operating models.
In this course we test that claim, assessing each of the 11 KPIs put forward by Forbes Magazine for their effectiveness and applicability. We analyse the performance measures in the categories of operational metrics; market and customer metrics, employee metrics and financial metrics, and we introduce other performance measures which businesses find useful.
At the same time, we need to avoid the danger of having too many KPIs. Then the workload of collection and analysis becomes too heavy, and we end up with too much information to make effective decisions.
A relatively small selection of KPIs that work for your business is the optimal outcome. In this course, we seek to identify the most useful KPIs for all types of business.