Employee Engagement

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Jan 25, 2023

Looking Back: Measuring Company Success

by Jake Burgess

When trying to evaluate “success,” there are a million different key performance indicators (KPIs), stats, and figures that companies can use as yardsticks. It’s easy to focus on pretty numbers that mask hard truths, or view data in isolation so that things look great with a small sample size but are trending downwards on a longer scale. With that in mind, we want to look at some reliable touchstones that companies can use to see how well they met their 2022 goals, and how well-positioned they are for success going forward. The areas we’re going to focus on include: Financial performance Customer and employee satisfaction Market share Social responsibility Financial performance Simply looking at your accounts and saying, “Well, our income was higher than our expenses—we’re successful!” would be a gross oversimplification. In some cases, extremely successful companies can even operate at a loss for several years. Nonetheless, finances are the obvious place to start. Because whatever else is going on, you need to be bringing in business and trending upwards. A solid recap of the year’s success can be summarized in just two financial documents: Income statement Balance sheet 1. Income statement What is an income statement? A report that shows a company’s revenues and expenses for a defined period of time. While revenue statistics can be abused (e.g. masking a huge loss by citing record revenue), they are extremely helpful when used correctly. Revenue is a key measure of a business’s performance, as it indicates the demand for […]

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