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Purpose and benefits of Business Matrix

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Purpose and benefits of Business Matrix Application of Business Matrix to practical business situations and using them to provide solutions to different business situations. What is Business Matrix? • In order to get the most from business metrics, the business must keep the metrics simple. Businesses must not define the metrics instead put them directly to use. • Good metrics will: • Drive the strategy and direction of the organization • Provide focus for an organization, department or employee • Change and evolve with the organization • Drive performance • Help make decisions • Produce good internal and external public relations How John Smith can define the metrics • The following 5 steps will help John Smith in implementing the business metrics. 1. Define the metrics 2. Secure buy-in from senior management and employees 3. Understand what data is needed and how to collect it 4. Measure and share the results 5. Do not forget the “continual” part of improvement Defining Customer Service • First Response Time • The customer response time must be stated within the possible and reasonable time. The customer expects their complaints to be addressed in clear manner. The metrics can be stated as follows; • “90% response rate within 24 hours”. Defining Customer Service • Changing the medium of communication can result into reducing response time, such as the use of telephone as a means to communicate to the customers. • This will reduc ...
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