18 Questions
What is a key characteristic of performance indicators in the context of the text?
Oriented towards driving desired behavior
Why is it important for an officer to link their performance parameters to the company's scorecard?
To understand the impact on achieving strategic objectives
In the GPMS implementation, can targets be changed after a quarterly review?
Yes, frequently changing targets is encouraged
What score would an individual achieve if they meet the target set against a parameter in the GPMS scorecard?
'100'
What is one of the reasons fair, good, and excellent marking is used against targets?
To provide a standardized way of assessing achievement
Why should information technology be used in the company according to the text?
To aim for accurate reports on key performance parameters achievements
What is the main purpose of a Performance Management System (PMS) from an organizational perspective?
To deploy organizational goals and calibrate performance at various levels
Which of the following best describes the responsibility of implementing corporate strategies in an organization?
It is promulgated among various functional units and departments
Why is a Performance Management System (PMS) considered a management tool rather than solely an HR tool?
Because it lays down clear objectives for employee performance and links it to rewards
What is the purpose of Group Performance Management System (GPMS) in organizations?
To deploy organizational goals and monitor performance at group levels
Why is it essential to have an appropriate system to measure the performance of organizational units/departments?
To take suitable corrective actions and reward outstanding performers
How are corporate strategies typically implemented within organizations?
By various functional units and departments
What score would be achieved for a revenue of 70 Cr based on the performance levels provided in the text?
65
Below how much revenue would the score for the performance KPI be 0?
50 Cr
What revenue would result in a score of 100 for the performance KPI?
100 Cr
How is the total score against a KPI calculated in the GPMS system?
Multiplying the weightage of a parameter with its performance score
What is emphasized in an IPMS system according to the text?
Performance-oriented culture and new behaviors
Which aspect makes a PMS powerful according to the text?
Emphasis on customer focus and personal accountability
Test your knowledge on strategic performance indicators that are oriented towards driving desired behavior and performance, easy to benchmark, and have a direct impact on achieving strategic objectives. Explore the importance of setting targets and understanding the link between performance parameters and company's scorecard.
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