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Chapter 24: Q13RQ (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’s overall success.

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Most popular questions from this chapter

Each of the following managers works for a national chain of hotels and has been given certain decision-making authority. Classify each of the managers according to the type of responsibility center he or she probably manages.

a. Manager of the Central Reservation Office

b. Managers of various corporate-owned hotel locations

c. Managers of the Northeast and Southeast Corporate Divisions

d. Manager of the Housekeeping Department at one hotel

e. Manager of the complimentary breakfast buffet at one hotel

What is the biggest disadvantage of using ROI to evaluate investment centers?

What are the four perspectives of the balanced scorecard? Briefly describe each.

Explain the difference between a lag indicator and a lead indicator.

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