From KPIs to CQIs: Measuring consciousness in financial performance

The emphasis of this article is the evolution of Financial Performance Measurement from traditional Key Performance Indicators (KPIs) to Conscious Quality Indicators (CQIs), which are an integration of human, ethical, and systemic elements of performance. CQIs provide a standard and consistent way for organizations to evaluate the performance of their employees relative to traditional KPIs. To support the use of CQIs in conjunction with KPIs, the study conducted a survey on managers within the Services, Finance, Manufacturing, and IT sectors, using 1600 managers' attitudes toward both CQIs and KPIs. The results from the survey were classified into three categories: High, Medium, and Low CQI Adoption. A chi-square test of independence to determine the association between companies' CQI adoption and organizational contexts found no statistically significant relationship (p = .266). Data analyses for the study were performed using SPSS (Statistical Package for the Social Sciences). Quantitative Research Methodology was employed for this study. Findings suggest that a manager's propensity to adopt consciousness-oriented measures appears to cross all functional areas across multiple sectors, rather than being confined to the specific characteristics of a sector. This reinforces the idea that a well-rounded approach to measuring an organization's performance is based on integrating the quantitative accuracy of KPIs with the qualitative characteristics associated with CQIs.