GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lagging indicator
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Predictive indicator
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Leading Indicator
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Performance indicator
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Detailed explanation-1: -What are leading indicators? Leading indicators give early indications of performance. These indicators “lead” to results by showing the progress you’re making toward your goal. Typically, leading indicators are metrics that will help keep you on track so that you hit your strategic objectives.
Detailed explanation-2: -Leading indicators are about trying to predict the future. The term “leading indicator” originated in economics, where it’s defined as a measurable economic factor that changes before the economy starts to follow a particular pattern or trend.
Detailed explanation-3: -What is a KPI? KPI stands for key performance indicator, a quantifiable measure of performance over time for a specific objective. KPIs provide targets for teams to shoot for, milestones to gauge progress, and insights that help people across the organization make better decisions.
Detailed explanation-4: -Define the business goals and results you want to achieve. Start with your strategy and identify what it is you want to achieve. Find measures for your goals and results. Identify the value drivers. Define your leading indicators?