GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Because you have internal standards to compare your performance too
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It allows you to create strategies to improve performance to meet targets
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Allows you to compare your performance to other companies
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As these are internally set, it means they are relevant to the success of your business
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All of the above
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Detailed explanation-1: -KPIs are more than the numbers and metrics you report out weekly-they enable you to understand the performance and health of your business so that you can make critical adjustments in your execution to achieve your strategic goals. Knowing and measuring the right KPIs will help you achieve results faster.
Detailed explanation-2: -KPIs provide targets for teams to shoot for, milestones to gauge progress, and insights that help people across the organization make better decisions. From finance and HR to marketing and sales, key performance indicators help every area of the business move forward at the strategic level.
Detailed explanation-3: -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-4: -Revenue growth. Revenue per client. Profit margin. Client retention rate. Customer satisfaction. 17-Aug-2022