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Performance Management System Learning Objectives 01-04 Quiz
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Performance Management System Learning Objectives 01-04 Quiz

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Questions and Answers

What distinguishes Performance Indicators (PIs) from Key Performance Indicators (KPIs)?

  • PIs are financial in nature, while KPIs are nonfinancial.
  • PIs focus on strategic goals, while KPIs focus on individual activities.
  • PIs are backward-looking, while KPIs are forward-looking. (correct)
  • PIs are understood only by top management, while KPIs are understood by all employees.

    • Why are Performance Indicators (PIs) considered easily actionable?

  • Because they rely solely on financial data.
  • Because they are only measured on a yearly basis.
  • Because they are based on historical data.
  • Because they provide information on what actions must be taken to improve. (correct)

    • What do Key Performance Indicators (KPIs) help organizations understand?

  • How many employees the organization has.
  • How well the organization is performing in relation to its strategic goals and objectives. (correct)
  • The past performance of the organization.
  • Where the organization is located.

    • Why are KPIs considered the foundation from which successful strategies are built?

    <p>Because they show whether an organization is on track or not.</p> Signup and view all the answers

    What type of results do Key Performance Indicators (KPIs) focus on?

    <p>Results that lead to the desired outcomes.</p> Signup and view all the answers

    How are Performance Indicators (PIs) different from Key Risk Indicators (KRIs)?

    <p>PIs provide information on future actions, while KRIs look at past activities.</p> Signup and view all the answers

    Why is it important for Performance Indicators (PIs) to be easily understood by all employees?

    <p>To align goals and strategies across the organization.</p> Signup and view all the answers

    Why are Key Performance Indicators (KPIs) described as forward-looking?

    <p>Because they provide insights into future performance and progress towards goals.</p> Signup and view all the answers

    What makes Key Performance Indicators (KPIs) useful for creating strategies and aligning goals?

    <p>Their provision of information on what actions must be taken to improve.</p> Signup and view all the answers

    What role do Performance Indicators (PIs) play in organizational improvement?

    <p>They offer insights into what actions can be taken to enhance performance.</p> Signup and view all the answers

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