scholarly journals STRATEGIC PLANNING OF SHOPPING CENTRE ACTIVITIES BASED ON KPI

2021 ◽  
Author(s):  
Inna Koblianska ◽  
Nataliia Stoyanets
Keyword(s):  
Strategic Planning ◽  
Performance Indicators ◽  
Success Factors ◽  
Business Processes ◽  
Planning Process ◽  
Key Performance Indicators ◽  
Operating Costs ◽  
Shopping Center ◽  
Complex Object ◽  
Efficiency Indicators

Trade is one of the most intensive growing industries in Ukraine. This necessitates the study and deepening of the methodological foundations of strategic management of enterprises in this industry using modern tools, in particular, key performance indicators. The purpose of this article is to characterize the main business processes and to develop key performance indicators that can form the basis for strategic planning of the shopping center. There is suggested that the overall efficiency of the mall depends on a set of success factors: space, administration, and marketing. In view of this, focusing only on marketing aspects is not sufficient, when determining the key performance indicators for the shopping center; other parameters of the mall’s activities need to be reflected in the strategic plan too (through the relevant goals and indicators): production and operational, administrative. There is proposed a system of Key Performance Indicators to measure the activity of the mall as a complex object: results, cost, functioning, and efficiency indicators. The group of indicators measuring results includes the following KPIs: revenue, profit, use of the area of the mall. Cost KPI group embraces operating and capital expenditures. The group of functioning indicators involves the following KPIs: the number of visitors for the period, the share of permanent leasers, the share of leasers who terminated the lease agreement for the last year, the share of visitors who positively assess mall’s services, and the share of vacant space. The group of efficiency indicators includes the following KPIs: operating costs per unit of area, operating costs per 1000 visitors, profit per unit of area, rental rate. The proposed integral KPIs for the mall as a complex can be transformed into a system of indicators at the level of individual business processes (production and operation, administration, marketing), certain departments, and positions. Use of these indicators allows both to improve the quality of the mall’s strategic planning process and to form an appropriate informational basis for further control.

Balanced Scorecard: Myth and Reality

2005 ◽  
Vol 30 (1) ◽  
pp. 51-66 ◽  
Author(s):  
I M Pandey
Keyword(s):  
Strategic Planning ◽  
Performance Measures ◽  
Balanced Scorecard ◽  
Success Factors ◽  
Business Processes ◽  
Planning Process ◽  
Tracking System ◽  
Successful Implementation ◽  
Strategic Planning Process ◽  
The Balanced Scorecard

The performance improvement process is a critical component of the strategic planning process. Call it by any name, the process is very vital, and it has always been practised by many companies worldwide for a long time. This process has been recently dubbed as the balanced scorecard. The balanced scorecard is a system of combining financial and non-financial measures of performance in one single scorecard. It includes performance measures for four perspectives: financial, customer, internal business processes, and learning and growth (innovation). It need not be restricted to four perspectives; more may be added. The social responsibility and environmental concerns are two possible candidates. The balanced scorecard focuses on the link between business processes and decisions and results. It is considered as a device to guide strategy formulation, implementation, and communication. It also helps in tracking the performance and providing quick feedback for control and evaluation. A number of companies in the USA and a few companies in India have implemented the balanced scorecard. The success of the balanced scorecard or a similar device will depend on the clear identification of non-financial and financial variables and their accurate and objective measurement and linking the performance to rewards and penalties. The proponents of the balanced scorecard claim that it aligns with strategy leading to better communication and motivation which causes better performance. This assumption could be the single most important reason for the popularity of the balanced scorecard. However, this may or may not be true in practice. This is an empirical question. There is a need to document the experiences of the balanced scorecard companies and establish the cause-effect relationship. There are several reasons for the use of the balanced scorecard by organizations: The balanced scorecard is a comprehensive tool to understand the target customers, their requirements, and the performance gaps. The balanced scorecard provides logic for focusing on creating intangible and intellectual capital which under the traditional financial performance systems was difficult to do. The balanced scorecard is able to articulate the strategy of growth with business excellence which requires greater focus on non-financial initiatives. The balanced scorecard enables employees to understand strategy and link strategic objectives to their day-to-day operations. The balanced scorecard facilitates performance review and feedback on a continuous basis. The balanced scorecard, we strongly believe, will be useful to an organization when it is a part of the strategic planning process. A successful implementation of the balanced scorecard has the following other prerequisites: Top management commitment and support Determining the critical success factors (CSFs) Translating CSFs into measurable objectives (metrics) Linking performance measures to rewards Installing a simple tracking system Creating and linking the balanced scorecards at all levels of the organization Setting up a sound organizational communication system to harness advantages of the balanced scorecard Linking strategic planning, balanced scorecard, and budgeting process for better allocation of resources.

Strategic planning in grassland farming: Principles andapplications

1997 ◽  
pp. 191-197
Author(s):  
W.J. Parker ◽  
N.M. Shadbolt ◽  
D.I. Gray
Keyword(s):  
Strategic Planning ◽  
Performance Indicators ◽  
Cost Effective ◽  
Key Performance Indicators ◽  
Strategic Plans ◽  
Effective Manner ◽  
Farm Business ◽  
Pastoral Farming ◽  
Financial Environment

Three levels of planning can be distinguished in grassland farming: strategic, tactical and operational. The purpose of strategic planning is to achieve a sustainable long-term fit of the farm business with its physical, social and financial environment. In pastoral farming, this essentially means developing plans that maximise and best match pasture growth with animal demand, while generating sufficient income to maintain or enhance farm resources and improvements, and attain personal and financial goals. Strategic plans relate to the whole farm business and are focused on the means to achieve future needs. They should be routinely (at least annually) reviewed and monitored for effectiveness through key performance indicators (e.g., Economic Farm Surplus) that enable progress toward goals to be measured in a timely and cost-effective manner. Failure to link strategy with control is likely to result in unfulfilled plans. Keywords: management, performance

Alignment and Identification of the Relationships between Key Performance Indicators in a Multilevel Tree Structure to Support Transportation Agency Decisions

2021 ◽  
pp. 036119812110190
Author(s):  
Hector Donaldo Mata ◽  
Mohammed Hadi ◽  
David Hale
Keyword(s):  
Machine Learning ◽  
Performance Indicators ◽  
Business Processes ◽  
Key Performance Indicators ◽  
Ordinary Least Squares ◽  
Learning Tools ◽  
Least Squares Regression ◽  
Upper Level ◽  
Selection Operator ◽  
Transportation Agencies

Transportation agencies utilize key performance indicators (KPIs) to measure the performance of their traffic networks and business processes. To make effective decisions based on these KPIs, there is a need to align the KPIs at the strategic, tactical, and operational decision levels and to set targets for these KPIs. However, there has been no known effort to develop methods to ensure this alignment producing a correlative model to explore the relationships to support the derivation of the KPI targets. Such development will lead to more realistic target setting and effective decisions based on these targets, ensuring that agency goals are met subject to the available resources. This paper presents a methodology in which the KPIs are represented in a tree-like structure that can be used to depict the association between metrics at the strategic, tactical, and operational levels. Utilizing a combination of business intelligence and machine learning tools, this paper demonstrates that it is possible not only to identify such relationships but also to quantify them. The proposed methodology compares the effectiveness and accuracy of multiple machine learning models including ordinary least squares regression (OLS), least absolute shrinkage and selection operator (LASSO), and ridge regression, for the identification and quantification of interlevel relationships. The output of the model allows the identification of which metrics have more influence on the upper-level KPI targets. The analysis can be performed at the system, facility, and segment levels, providing important insights on what investments are needed to improve system performance.

scholarly journals IT Effect Assessment for Non-profit Organization

2019 ◽  
Vol 8 (4) ◽  
pp. 8854-8858
Keyword(s):  
Performance Management ◽  
Performance Indicators ◽  
Business Processes ◽  
Key Performance Indicators ◽  
Federal State ◽  
Non Profit ◽  
Core Business ◽  
The Core ◽  
Commercial Activities ◽  
Non Profit Organizations

The article is devoted to assessing the effect of the implementation of information technologies in non-profit organizations. The purpose of the assessment is to evaluate the effect of IT implementation and its impact on key performance indicators of an organization. The indicators characterizing the results of the organization’s activities in accordance with the State Assignment and the results of commercial activities were used as the key performance indicators. For federal state budget NPOs, it has been shown that a positive IT effect for auxiliary business processes does not directly ensure positive performance indicators for the core business processes. Hidden effects of the use of IT were assessed by changes of the indicators of the core business processes. Performance indicators characterizing the results of commercial activities may demonstrate a negative effect. Understanding the specifics of non-profit organizations, as well as metrics and performance parameters characterizing the effectiveness of such organizations, is important to ensure a correct approach to the digitalization of business processes and their performance management.

A Driver-Based Approach to Airport Valuation

2010 ◽  
Vol 1 (1) ◽  
pp. 20-47 ◽  
Author(s):  
Hans-Arthur Vogel ◽  
Anne Graham
Keyword(s):  
Stock Market ◽  
Performance Indicators ◽  
Success Factors ◽  
Peer Group ◽  
Group Analysis ◽  
Key Performance Indicators ◽  
Key Success Factors ◽  
Alternative Concept ◽  
Financial Position ◽  
True Value

This paper presents the first part of results of extensive research on an alternative concept to airport valuation. It reviews raditional and alternative valuation measures, illustrated by a sample of eight publicly quoted European airports. The main objective is to derive a model taking account of the underlying key value drivers.A peer group analysis shows that only few sector multiples applied by the investors’ community are significantly correlated with key performance indicators based on business fundamentals. By contrast to the results of this alternative driver-based valuation approach, these market multiples are affected by stock market fluctuations and do not adequately reflect the financial position and true value, and hence supports this paper’s view that airports should be valued by recognising key success factors.

Strategic Planning for E-Learning in a Polytechnic

2011 ◽  
pp. 47-65 ◽  
Author(s):  
Tony Bates
Keyword(s):  
Strategic Planning ◽  
Faculty Development ◽  
Performance Indicators ◽  
Strategic Plan ◽  
Key Performance Indicators ◽  
Core Values ◽  
Face To Face ◽  
E Learning ◽  
And Training

This chapter is a case study of how a polytechnic developed a strategic plan for e-learning. It describes the institution’s rationale for moving more strongly into e-learning, the processes followed by the institution to develop a plan and ensure its acceptance through the institutional community, and the factors that facilitated the process. It indicates that attention to objectives, core values and principles, and faculty development and training, are critical for the successful transition from mainly face-to-face teaching to e-learning. The development of key performance indicators will allow the success of the plan to be measured in 2010.

scholarly journals Review of Key Performance Indicators for Process Monitoring in the Mining Industry

Energies ◽  
2020 ◽  
Vol 13 (19) ◽  
pp. 5169 ◽  
Author(s):  
Paulina Gackowiec ◽  
Marta Podobińska-Staniec ◽  
Edyta Brzychczy ◽  
Christopher Kühlbach ◽  
Toyga Özver
Keyword(s):  
Process Monitoring ◽  
Performance Indicators ◽  
Business Strategy ◽  
Lean Manufacturing ◽  
Process Management ◽  
Business Processes ◽  
Mining Industry ◽  
Key Performance Indicators ◽  
Sensor Data ◽  
Monitoring And Control

The sustainable development of an organisation requires a holistic approach to the evaluation of an enterprise’s goals and activities. The essential means enabling an organisation to achieve goals are business processes. Properly managed, business processes are a source of revenue and become an implementation of business strategy. The critical elements in process management in an enterprise are process monitoring and control. It is therefore essential to identify the Key Performance Indicators (KPIs) that are relevant to the analysed processes. Process monitoring can be performed at various levels of management, as well as from different perspectives: operational, financial, security, or maintenance. Some of the indicators known from other fields (such as personnel management, finance, or lean manufacturing) can be used in mining. However, the operational mining processes require a definition of specific indicators, especially in the context of increasing the productivity of mining machines and the possibility of using sensor data from machines and devices. The article presents a list of efficiency indicators adjusted to the specifics and particular needs of the mining industry resulting from the Industry 4.0 concept, as well as sustainable business performance. Using the conducted research and analysis, a list of indicators has been developed concerning person groups, which may serve as a benchmark for mining industry entities. The presented proposal is a result of work conducted in the SmartHUB project, which aims to create an Industrial Internet of Things (IIoT) platform that will support process management in the mining industry.

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