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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?

Because they show whether an organization is on track or not. (D) Signup and view all the answers

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

Results that lead to the desired outcomes. (A) Signup and view all the answers

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

PIs provide information on future actions, while KRIs look at past activities. (C) Signup and view all the answers

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

To align goals and strategies across the organization. (A) Signup and view all the answers

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

Because they provide insights into future performance and progress towards goals. (A) Signup and view all the answers

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

Their provision of information on what actions must be taken to improve. (C) Signup and view all the answers

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

They offer insights into what actions can be taken to enhance performance. (D) Signup and view all the answers

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