INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Key Metrics Meaning. The most important metrics that a business tracks are called key metrics. Also known as a key performance indicator, or KPI, a key metric is a statistic which, by its value gives a measure of an organization or department’s overall health and performance.
Detailed explanation-2: -A business metric is a quantifiable measure businesses use to track, monitor and assess the success or failure of various business processes. The main point of using business metrics is to communicate an organization’s progress toward certain long-and short-term objectives.
Detailed explanation-3: -Sales revenue. Perhaps one of the most informative business metrics is revenue. Net profit margin. Gross margin. Lead conversion rates. Website traffic. Retention rate. Customer acquisition cost. Customer lifetime value. More items •29-Mar-2023
Detailed explanation-4: -Choose KPIs directly related to your business goals. Consider your company’s stage of growth. Identify both lagging and leading performance indicators. Focus on a few key metrics, rather than a slew of data. 28-Sept-2022