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12 Terms
1
Key Performance Indicators
A series of criteria used to measure certain aspects of a business’s performance
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2
10 KPIs
1. Percentage of market share 2. Net profit figures 3. Rate of productivity growth 4. Number of sales 5. Rate of staff absenteeism 6. Level of staff turnover 7. Level of wastage 8. Number of customer complaints 9. Number of website hits 10. Number of workplace accidents
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3
Percentage of market share (definition & relevant areas)
@@Definition:@@
The total number of sales one business has when compared to its competitors
@@Relevant areas:@@
Sales & Marketing - communicating correct message to customers
Operations - indicates if quality is meeting expectations of customers
@@Positive for business?@@
Increase is positive
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4
Net Profit figures (definition & relevant areas)
@@Definition:@@
The monetary amount that remains when expenses have been deducted from the revenue earned by a business
@@Relevant areas:@@
All areas. Financial performance
HR - people in the right roles
Operations - high quality affordable output whilst reducing business expenditures
@@Positive for business?@@
Increase is positive
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5
Rate of Productivity Growth (definition & relevant areas)
@@Definition:@@
The ability of a business to reduce the number of inputs required to produce the same number of outputs from one year to the next
@@Relevant areas:@@
Operations - inputs into outputs with greater efficiency
HR - ensuring employees are well trained
@@Positive for business?@@
Increase is positive
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6
Number of Sales (definition & relevant areas)
@@Definition:@@
The amount of goods or services purchased by customers from a business
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