Q. Describe why Key Performance Indicators (KPIs) are a vital tool in the success of a modern organization.
You don’t have to answer that. Just give any 2(A-C) feedback. 3-5 sentences.
A. KPI is measured by how well an organization is meeting its goals. This is a critical success factor in the development of and growth of an organization. KPI’s are apart of standard business practice to ensure that an organization is moving in the right direction. All businesses need KPI to stay competitive in a global market to ensure it is meeting the needs of its consumers.
B. Key Performance Indicators (KPIs) is a business metric that measures the degree of fulfillment of a goal. KPIs provide a concise strategy and help create a logical foundation for decision making, thus making KPIs a vital tool in the success and growth of a modern organization. KPI is a means of measuring progress towards a goal and, therefore, a vital tool when pushing forward to higher goals.
C.The KPI is an important metrics to figure out what is wrong and where the help is needed to improve the business. Most if not all companies use this to further the success of the business. I use it everyday at work and it helps me figure out where I need to improve. It is a great tool.