Key performance Indicators

Question 1

Define Percentage of Market Share

Answer 1

a businesses share of the total sales in an industry for a particular good or service. This is expressed as a percentage.

Question 2

Define net profit

Answer 2

the amount of money left over when the expenses are deducted from the revenues earned. This can be invested back into the business.

Question 3

Define Rate of productivity growth

Answer 3

The amount of outputs produced compared to the amount of inputs used and the rate in which it increases over time.

Question 4

Define number of sales

Answer 4

the amount of goods and services sold in a specific period of time.

Question 5

Define rate of staff absenteeism

Answer 5

The number of employees that do not turn up to work when expected to be there.

Question 6

Define level of wastage

Answer 6

the amount of resources and finished goods that are thrown out during the production process.

Question 7

Define number of customer complaints

Answer 7

the amount of people that are dissatisfied with the business and its products and have sent back their feedback. It can indicate that product quality was low and needs to be enhanced

Question 8

Define number of workplace accidents

Answer 8

the amount of people injured or nearly injured at work due to unplanned events.

Question 9

Define benchmarking

Answer 9

a tool used to compare results against some form of standard.