57972023 Improvement tools: Critical success factors and key performance indicators | Agriculture and Food Menu Climate, land & water Crops vestock & animal weed Food & Tr Agribusine: Biosecurity & quarantin & support Key performance indicators (KPIs) are the way to measure whether the CSFs are working. Using CSFs and KPIs helps a business stay focused on the key actions that will keep it on track to achieving its goals. ‘The best way to start to understand critical success factors (CSFs) and key performance indicators (KPIs) is to see some examples. Also included in the examples below is the idea of targets. These are the level of performance that is needed to reach the goals. The examples also include SMARTT goals. SMARTT stands for specific, measurable, achievable, relevant, targeted and timeframed. Example 1: A restaurant Goal: Increase profit by 5% by January next year by increasing throughput by 10% in lunch and dinner trade without reducing our gross margins, SF KPI Target Market share % of business within a Skm radius 10% Customer satisfaction % of customers who are satisfied 95% hitpsiwwwagre.wa, gov auimpravementtools-crtcal-success-facors-and-key-performance-ndicalors M657972023 Improvement tools: Critical success factors and key performance indicators | Agriculture and Food Menu Climate, land & wate Crops vestock & animal weed Food & Tr Agribusine: Biosecurity & quarantin & support Using example 1 this type of thinking would look like this To achieve the goalit is critical to have a share of the market, satisfied customers and quality meals. The best indicator of whether we have market share will be how much business we get relative to other restaurants (market share) in a five kilometre radius, We will know we are on track to our goal when we have 10% market share. Developing CSFs, KPIs and targets takes practice. Having them means you focus on the things that matter most and you can keep track of progress towards your goals. Situations change and CSFs, KPIs and targets may also need to change. They should be reviewed regularly Other tools to use with CSFs and KPIs CSFs and KPIs can be used in steps 1, 4, 5, 6 and 8 of the Cl&l - Continuous improvement and innovation process. Develop target outcomes and use the SMARTT goal tool before you develop CSFs and KPIs. hitpsiwww-agrie.wa,gov-auimpravement-tools-rtical-success-facors-and-key-performance-indicalors 26sie/2023 Improvement tools: Critical success factors and key performance indicators | Agriculture and Food Menu land & wate Crops ivestock & animals Pests, weeds & diseases Agribusiness Food & Trade Biosecurity & quarantine About us Tools & support ‘Short URL https://agric.wa gov.au/n/2186 About Department of Primary Industries and R op) Iture and Food division committed to growing and griculture and Head office 3 Baron-Hay Court South Perth WA 61 ‘al hitpsiwww-agrie.wa,gov-auimpravement-tools-rtical-success-facors-and-key-performance-indicalors57972023 Improvement tools: Critical success factors and key performance indicators | Agriculture and Food Menu Climate, land & wate Crops vestock & animal weed Food & Tr Agribusine: Biosecurity & quarantin & support hitpsiwww-agrie.wa,gov-auimpravement-tools-rtical-success-facors-and-key-performance-indicalors 41a