It’s human nature to want to know how we compare to others. The same is true for businesses when it comes to gauging performance compared to other similar organizations. A way to make these kinds of comparisons is to engage in an exercise called benchmarking,...
In a recent article – Business Intelligence: Can Your Company Benefit? – I discussed the continuing relevance of business intelligence tools, both today and in the future.
I also described how business intelligence tools focus on assessing historical and current data with a critical goal: gain...
The management dashboard has become a hot business topic in recent years. In the same way that a car’s dashboard has gauges and lights that alert drivers to potential problems, a management dashboard can alert you to problems that might be lurking beneath the surface...
This is the time of year when many businesses start preparing for next year’s budgeting process. In doing so, they will be gathering information and data with key personnel from various departments to obtain forecasted revenues and associated costs. Among the techniques that could be employed in this process...
Many Los Angeles and Southern California business leaders have adopted the practice of measuring company performance by monitoring key performance indicators (or KPIs). However, monitoring KPIs is just the first step in gauging business performance. There needs to be some standard against which KPIs are measured and compared. The process...
Managing Director Resource Planning Solutions Corporation Previously in this series we discussed the importance of first designating the critical success factors necessary for an organization to achieve its stated objectives, and then assigning key performance indicators (KPIs) in order to accurately measure such factors. We...
Managing Director Resource Planning Solutions Corporation This is the third in a series of articles detailing best practices for the implementation of strategic planning and methods for performance measurement. Previously we discussed methodologies for the outlining of critical success factors, which are the activities or...
Managing Director Resource Planning Solutions Corporation This is the second in a series of articles focused on best practices for the implementation of strategic planning and performance measurement. Such methodologies are integral to the success of all kinds of businesses, from small-scale enterprises to multinational...
Managing Director Resource Planning Solutions Corporation Strategic planning and performance management are of significant importance to the survival of today’s businesses. From small businesses to multinational, Fortune 500 companies, these factors are critical to their operational success. This series of articles will outline a number of...