key performance indicators

Question 1

what are KPIS

Answer 1

sources of data to analyse the performance of businesses. KPIs need to be reliable, relevant, comparable and measurable.

Question 2

what do KPIs show

Answer 2

• what areas a business is doing well in
• what areas of the business could be improved
• whether set objectives are being met

Question 3

percentage of market share

Answer 3

percentage of industrys total sales that are earned, controlled or held by a business.

Question 4

net profit figures

Answer 4

the amount left after all expenses are deducted from revenues.

Question 5

rate of productivity growth

Answer 5

being able to produce more goods or services with the same amount of inputs over a given period of time.

Question 6

number of sales

Answer 6

the amount of items or services the business has been able to sell or provide over a given period of time. measuring the numbers of sales helps a business evaluate its performance

Question 7

rates of staff absenteeism

Answer 7

number of days which employees take off work over a given period of time. rates of productivity may also reduce as employees are not there to complete their tasks.

Question 8

level of staff turnover

Answer 8

the rate in which employees leave an organisation and are replaced over a given period of time. some level of staff turnover is considered healthy.

Question 9

level of wastage

Answer 9

the amount of loss of something valuable through underutilization, decay, erosion, or destruction. reducing level of waste can reduce costs of production goods and services.

Question 10

number of customer complaints

Answer 10

the amount of customers or those who visit, buy from or use a business that contact the organisation to express their dissatisfaction.

Question 11

number of workplace accidents

Answer 11

how many employees are hurt or injured through incidents in the workplace during hours. measures how safe the workplace is for employees.