GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Staff training
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Reducing opening hours
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Increased investment in technology
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Cost cutting
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Detailed explanation-1: -Key performance indicators (KPIs) are targets that help you measure progress against your most strategic objectives. While organizations can have many types of metrics, KPIs are targets that are “key” to the success of your business.
Detailed explanation-2: -Types of KPIs Quantitative indicators that can be presented with a number. Qualitative indicators that can’t be presented as a number. Leading indicators that can predict the outcome of a process.
Detailed explanation-3: -KPI management is a process by which organizations monitor the performance of their metric goals and objectives against desired outcomes. Managers analyze the information compiled against the original metric objectives, providing insight into whether the organization is performing according to its plan.
Detailed explanation-4: -KPIs should be aligned with the overall business strategy and outcomes. The overarching business strategy should be what informs your KPIs. KPIs should be actionable. KPIs should be realistic. KPIs should be measurable.