New Strategic Thinking in Mitigating the Challenges in Implementing Key Performance Indicators (KPIs) and Increasing Efficiency in Corporate Performance Management in MENA Region

Abstract

The implementation of key performance indicators (KPIs) is a challenging task for many businesses. Yet, effective implementation of KPIs is among the major determinants of performance and success of an organization. This study explored the new strategic thinking in mitigating the challenges in implementing key performance indicators (KPIs) and increasing efficiency in corporate performance management in the Middle East & North Africa (MENA) region. The study sought to test three hypotheses: (i) there is a significant relationship between having enough training and awareness sessions before implementation and effective implementation of KPIs; (ii) there is a significant relationship between having KPI professionals and specialists and effective implementation of KPIs; and (iii) there is a significant relationship between having clear KPI goals and objectives, on one hand, and the effective implementation of KPIs on the other. Hypotheses 2 and 3 were proved to be true while results for hypothesis 1 were inconclusive. A total of 1007 participants from across the MENA region were involved in the study. The findings demonstrate the importance of having clear KPI goals and objectives and KPI professionals or specialists to oversee the KPI selection and implementation process. Further research should be conducted to establish whether there is a significant relationship between having enough training and awareness sessions before implementation and effective implementation of KPIs.