U4 AOS 1 Bus Man Section 2 Quiz - KPIs

KPI stands for a Key _________ Indicator.

Continuous improvement requires businesses to constantly _______ how well they are meeting their business objectives.

• evaluate

• consider

• prevent

• describe

__________ indicates to what degree a business has accomplished the objectives it set out to achieve. In other words, the business is ‘doing the right things’.

________ refers to how well a business uses the resources needed to achieve a goal.

• Effectiveness

• Efficiency

The purpose of KPIs is to evaluate business performance and ask 'did we achieve our objective?'

• True

• False

What is the percentage of market share in the following question? In 2019 there were 1 062 867 new passenger vehicles sold in Australia. Toyota was the top-selling brand for the 17th year in a row selling 205 766 cars

• 19.4%

• 22%

• 13%

• 56%

What is meant by the term net profit?

• It is what is left over after gross profits have been deducted

• It is what is left over after all costs have been deducted

• It is what is left over after cost of sales have been deducted

• It is what is left over after operating costs have been deducted

A business that makes a _______ is considered to have performed successfully.

What is productivity?

• The ability to produce more output, per worker, per hour

• The ability to stay awake longer than anyone else

• A byproduct of excessive coffee

• Making more money with less resources

What is a Tariff?

• A tax on imported and exported goods

• A price marked on goods

• Profit made from manufactured goods