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  • Writer's pictureAnthony Cerantonio

Key Performance Indicators

WHAT ARE KPIs AND HOW TO USE THEM IN BUSINESS


In simple terms KPI’S are a measure value in determining how a company or business is achieving its objectives as determined in its Projected Profit and Loss Statement.

KPI’s can only be relied upon provided the financial statements are prepared in accordance with the Australian Accounting standards.


KPI’s provide ongoing assessment on the performance of specific areas of a business to determine areas of deficiency and to enable management to implement strategies to overcome those deficiencies. Key Performance Indicators can also motivate employees to achieve organisational objectives and improve the operations efficiency, productivity and profitability levels.

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