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Those business owners and top managers who have no hands-on experience in strategic planning and implementation of Balanced Scorecard have to get elementary BSC knowledge and analyze examples of KPIs. In this article we will give a brief overview of some popular KPIs used in various industries. Check additional information about kpi example.

It is not easy to make the first steps in implementation of Balanced Scorecard in the company and establishment of an effective strategic management system. Very often business owners and top managers of very light minded towards strategic planning. Statistics show that only a little bit more than 20% of managers in European and the U.S. companies either participate in strategic planning or have the right concept of strategy implementation. The rest of the personnel either has no idea of what the company strategy is or simply have the wrong concept and interpretation of the company strategy. This is a very dangerous situation in terms of correct implementation of a chosen strategy. This especially concerns large companies and corporations consisting of many business units, branches and departments. It may happen that each department understands strategic goals in its own way and thus makes the wrong decisions in terms of general strategy, vision and values for the company.

As known, Balanced Scorecard works through evaluation of key performance indicators (KPIs) which are specifically chosen measures that evaluate critical success factors for a particular business. Very often key performance indicators are chosen in the wrong way. Top managers may select secondary measures that seem important and representative but in fact they are providing top management and business owners with totally unimportant figures that do not influence overall performance of a company. For this reason choice of key performance indicators as one of the most important stage is in Balanced Scorecard implementation.

Those business owners and top managers who have no all very little experience and knowledge in strategic planning and Balanced Scorecard in particular require help, since implementation of Balanced Scorecard is quite an expensive and lengthy process. As a rule, top managers undergo special trainings, but dissipating seminars and gain knowledge online. Extremely high proficiency in key performance indicators is a must. Moreover, one should remember that different businesses required different indicators and something that works perfectly for one company may not work at all for another.

Choice of key performance indicators solely depends on company strategy, its organization structure and problems both in the internal and external environment. In order to make the right choice of KPIs one should certainly look for key performance indicators examples that can be found online. As a rule KPIs are grouped by Balanced Scorecard category, industry or business area, as well as business unit of department.

Thus for example if you're looking for most popular key performance indicators for human resource management in IT companies you should browse KPIs in HR category for IT business. We should stress again that these are just examples, and it doesn't necessarily mean that you have to use the precise sets of KPIs offered at various websites. However, these examples will offer you knowledge on key performance indicators, their explanation and description, the way such key performance indicators are measured etc. Having chosen the first set of key performance indicators run Balanced Scorecard in a trial mode to see how the entire system works.

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Balanced Scorecard Toolkit includes step-by-step manuals, documents, presentations, check lists designed to help business professionals with successful development and implementation of Balanced Scorecard. Learn more about BSC Toolkit.