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Rules For Selecting And Using Key Performance Indicators For The Service Industry

Author

Listed:
  • Alexandra - Elena RUSĂNEANU

    (Bucharest University of Economic Studies)

Abstract

There is no question that performance is the desired result of every activity or action. In order to correctly measure an organization’s performance it is necessary to select key performance indicators (KPIs) that will deliver long-term value to the company. KPIs are presenting performance information for all levels of the organization and they are reflecting the progress made so far to achieve strategic objectives. The selection of the key performance indicators must be made according to the organization’s industry and activity. The company must truly understand its business and its mission. Also, KPIs must be closely linked to the strategic objectives. The focus of this research is to present effective rules for defining key performance indicators for the Service industry. This sector of economy consists in generating intangible goods like experience, expertise and information. Therefore, monitoring this type of services requires a different approach when defining performance indicators compared to the manufacturing industry.

Suggested Citation

  • Alexandra - Elena RUSĂNEANU, 2014. "Rules For Selecting And Using Key Performance Indicators For The Service Industry," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 4, pages 661-666, July.
    • Handle: RePEc:cmj:seapas:y:2014:i:4:p:661-666
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    More about this item

    Keywords

    KPI; Performance Indicators; Service Industry;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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