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Chapter 24: Q24-13RQ (page 1355)

What is a key performance indicator?

Short Answer

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Answer

KPI is a quantifiable metric that shows how successfully a corporation is reaching important business objectives.

Step by step solution

01

Meaning of Key performance indicator

An outline performance metric called a key performance indicator (KPI) is employed by directors to decide on the off chance that the association is succeeding in its targets.

02

Explaining a key performance indicator

A quantitative indicator of how successfully a company is completing its core goals is known as a key performance indicator (KPI). Associations use KPIs to measure their progress toward their goals. Low-level KPIs could focus on departmental tasks like sales, marketing, HR, or support, but high-level KPIs might focus on the business鈥檚 overall success.

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