Flashcard on Key Performance Indicators (KPIs) in Business Operations

Front

What does KPI stand for?

Back

Key Performance Indicator

Front

What is the primary purpose of KPIs?

Back

To measure business performance

Front

Which of the following is an example of a leading indicator? Employee Turnover Rate, Customer Satisfaction Score, Sales Revenue, Monthly Sales Revenue

Back

Monthly Sales Revenue

Front

What does the Customer Satisfaction Score (CSAT) measure?

Back

Customer satisfaction with a product or service

Front

Which KPI measures the direct costs incurred in producing goods?

Back

Cost of Goods Sold

Front

What characteristic of effective KPIs indicates they should be easy to understand?

Back

Simple

Front

Which of the following is NOT a category of KPIs? Technological KPIs, Operational KPIs, Customer KPIs, Financial KPIs

Back

Technological KPIs

Front

What is a key feature of lagging indicators?

Back

They measure current production and performance

Front

What does the term 'time-bounded' refer to in KPIs?

Back

KPIs should have a defined time frame for achievement

Front

Which of the following is a financial KPI? Website Traffic, Customer Satisfaction Score, Employee Turnover Rate, Profit Margin

Back

Profit Margin