Question

What management tool indicator is often established by higher headquarters to provide a meaningful measure of merit for managers to identify problems and successes?

1) Key Performance Indicator (KPI)
2) Balanced Scorecard
3) Benchmarking
4) SWOT Analysis

Answer 1

The management tool indicator established by higher headquarters for managers to gauge success and identify issues is the Key Performance Indicator (KPI). KPIs measure various aspects such as job satisfaction and organizational performance.

Step-by-step explanation:

The management tool indicator that is often established by higher headquarters to provide a meaningful measure of merit for managers to identify problems and successes is a Key Performance Indicator (KPI). KPIs are used to assess how a change, such as a new management model, affects employee job satisfaction and the overall performance of an organization. Organizations and economists also use metrics like KPIs to measure economic performance, employee performance through 360-degree feedback appraisals, and to gauge stock market performance.

The management tool indicator that is often established by higher headquarters to provide a meaningful measure of merit for managers to identify problems and successes is Key Performance Indicator (KPI). KPIs are specific metrics that measure the performance of various aspects of an organization or individual. They help managers assess progress, make informed decisions, and take corrective actions when necessary. For example, a KPI for a sales manager could be the number of new customers acquired each month.