Key Performance Indicators (KPIs)

Key Performance Indicators (KPIs)

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Business

University

Hard

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Key performance indicators (KPIs) are crucial for managers to control and measure company performance. They are quantifiable metrics aligned with company goals, divided into financial and non-financial categories. Financial KPIs are easier to measure, while non-financial ones require more effort. KPIs can be tangible or intangible, and they may be responsive or non-responsive, depending on the company's control over them. Responsive KPIs can be influenced in the short term, whereas non-responsive ones require long-term changes.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of Key Performance Indicators in management?

To compare actual performance against ideal measures

To determine market trends

To set company goals

To increase employee satisfaction

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are financial KPIs different from non-financial KPIs?

Financial KPIs are harder to measure

Non-financial KPIs are always quantifiable

Non-financial KPIs are based on monetary values

Financial KPIs are easier to measure

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of KPI is likely to require additional research to measure?

Tangible KPIs

Financial KPIs

Non-financial KPIs

Responsive KPIs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a tangible KPI?

Customer contentment

Money production

Employee satisfaction

Brand awareness

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean if a KPI is responsive?

It can be influenced by short-term actions

It is not controlled by the company

It is based on employee perceptions

It requires long-term changes to see an impact