management strategies to respond to kpis

Question 1

staff training

Answer 1

important for the success or otherwise of the business. this helps all kpis

Question 2

staff motivation

Answer 2

motivated staff are productive staff. helps rate of productivity growth, level of staff absenteeism and level of staff turnover

Question 3

change in management styles

Answer 3

may help change a business e.g. if there is a high level of staff turnover or poor corporate culture and staff retention.

Question 4

improving quality in production

Answer 4

if customers are unhappy with the quality they receive then it will impact the number of sales that occur, resulting in lower market share and less profit.

Question 5

cost cutting

Answer 5

way to increase effectiveness, reduce expenses and also may lead to increased profit

Question 6

lean production techniques

Answer 6

increase customer value by using fewer resources. techniques can reduce costs, increase efficiencies, improve competitiveness.

Question 7

redeployment of resources

Answer 7

transfer of resources from one place in the business to another. includes rate of productivity growth, level of staff turnover and level of wastage.

Question 8

increased investment in technology

Answer 8

data and kpis that push for business transformation in this area include level of wastage, rate of productivity growth, sales, number of workplace accidents.