GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not a management strategy to respond to KPI’s.
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Investment in technology
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Cost cutting
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Materials management
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Initiating lean production
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Explanation:
Detailed explanation-1: -Most CEOs, CFOs, and financial analysts will tell you that revenue is a KPI (it’s really not), second only to profit (which is also not a KPI).
Detailed explanation-2: -Now that you understand the maximum of KPIs you should have, it’s time to think about the 4 main components you’ll need to consider when setting any KPI: its Measure, Data Source, Target, and Frequency. The KPI Measure clarifies what you want to measure and how you can measure it.
Detailed explanation-3: -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.
There is 1 question to complete.