Business Performance Management Key Terms

The terminology of business performance management

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 dictionaries

As 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.
Try: 12 Manage's online glossary and dictionary is constantly updated with new terms and definitions. You can find many of the key terms used in corporate performance management. This is especially important if you are considering getting performance management consulting for your company. Another helpful glossary is provided ISSEL, a provider of business performance management software.

Look for websites on business performance improvement and corporate performance management

Websites 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.
Try: Free Management Library is a good resource for informed explanations of key terms used in performance management. Bnet's articles on BPM highlight key terms as they are used throughout the article. You can click on the key terms as you read and get an explanation, as with the term "balanced scorecard."

Look up acronyms used in business performance management

Some 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.
Try: OLAP is one of the stranger looking acronyms, standing for "on-line analytical processing." It is a difficult term to understand and the author of this report gives a detailed explanation. Business dashboard is a catchy term for getting a lot of information at a glance, same as a quick look at your dashboard.

 

• 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.

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