Reviewing and Evaluating Changes Using Key Performance Indicators (VCE SSCE Business Management): Flashcards

Specific, measurable metrics to assess performance

Whole business, department, individual

Operations, HR, financial, corporate social responsibility

How efficiently inputs convert to outputs over time

Quality of product, service delivery, or customer experience

Problems with satisfaction, management, culture, or pay

Financial surplus after all costs deducted from revenue

(Business's sales / Total industry sales) × 100

Compare vs budgets, industry standards, & competitors

Rising profit, market share, sales, productivity; lower complaints