Business Performance Improvement, also known as BPI, is a strategy for assessing business performance using technology that can measure and manage performance against strategic goals. As with any theory, business performance management uses terms not commonly used in everyday language.
In applying or understanding theory, it helps to be acquainted with Business Performance Management key terms, such as KPI (key performance indicator), or the more well-known term ROI (return on investment). Another term for business performance management is corporate performance management.
1. Business performance management is a method of analyzing a company's strengths and weaknesses to better measure the success of strategy on real outcomes.
2. Some key terms are used across the board in other business theories.
3. Getting acquainted with business improvement terms will aid in applying and understanding the theory.
4. Business performance management falls under the umbrella of business intelligence (BI) -- a broader business concept.
Look up Business Performance Management key terms in business dictionariesAs children, we were told to look up words we didn't know in the dictionary! Well, it's a good habit to have instilled and to cultivate it.
Look for websites on business performance improvement and corporate performance managementWebsites for business performance management can also give you definitions of the key terms used in BPM, important if you want to get the most out of performance management consulting advice.
Look up acronyms used in business performance managementSome writers use acronyms without ever spelling out the words they stand for. You can Google the acronym and get a fairly good definition as well as the real words behind the letters.
- You might notice discrepancies in some of the explanations and definitions of Business Performance Management key terms, but don't be alarmed. Generally discrepancies are due to sloppy writing. Consider the source of the key terms and do more digging if necessary.