key performance indicators

Question 1

f-market share

Answer 1

A business’s share of the total sales in an industry for a particular good or service. earned over a specific time period and expressed as a percentage.

Question 2

f-net profit figures

Answer 2

what the company has financially earned after all expenses are deducted from the revenue.

Question 3

f-rate of productivity growth

Answer 3

measures the efficiency of a companies production process. calculated by looking at the number of outputs produced compared to the number of inputs used and the rate in which it increases over time. may decrease due to aging machinery, unmotivated staff, inputs arrival.

Question 4

f-number of sales

Answer 4

refers to the number of products or services sold over a period of time. the number of customers gained or lost is an indication of popularity, not the profits made

Question 5

nf-rates of staff absenteeism

Answer 5

this is the number of days employees are absent from work as a percentage of their total possible working time. when an employee is absent repeatedly, due to dissatisfaction, ongoing personal issues, or chronic medical problems. to resolve it businesses use investment into worker motivation, performance-related pay, training, staff support.

Question 6

staff turnover

Answer 6

the number of employees leaving the business in a period of time as a percentage of the total number of employees in the business. caused by job satisfaction, solve through motivation.

Question 7

level of wastage

Answer 7

the amount of stock either as raw materials or during processing which is discarded. calculated through the number of units discarded from the production line. caused by limited storage, and inefficient production processes. to fix implement lean management and technology

Question 8

number of customer complaints

Answer 8

the recorded number of individuals who report a defect, fault or issue in the good or service that they purchased in a given time period. informs the business quality is decreasing. resolved through quality management strategies, technology, staff training, motivation

Question 9

number of workplace accidents

Answer 9

the number of worker or customer-related injuries that occur in a business in a given time period. accidents are caused by faulty safety equipment, safety training, safety procedures, resolved staff training, invest in technology, redeployment of resources