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Unitron Practice Development Series - Measuring Your Way to Success: How Key Performance Indicators Can Help You Reach Your Business Goals

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1.  Key Performance Indicators are:
  1. Numbers only found on your financial statements
  2. Ideas you have for new promotions
  3. Vague guidelines regarding your sales goals
  4. Measurements of key aspects of your business related to your goals
2.  The purpose of Key Metrics (or Performance Indicators) is to:
  1. Improve Organizational Performance
  2. Analyze Root Cause Performance
  3. Give you an effective management tool for both people and processes
  4. All of the above
3.  Financial Statements are an example of a:
  1. Lead indicator
  2. Lag indicator
  3. Marketing tool
  4. IRS form
4.  Lead indicators help:
  1. Monitor performance as it is occurring
  2. Help you focus on situations prior to them becoming a serious problem
  3. Keep everyone in the company informed as to their specific impact on the goals of the company
  4. All of the above
5.  A Dashboard is:
  1. A part of the car that contains critical gages for the driver
  2. A report that contains critical business metrics
  3. A report that can show operational, tactical, or strategic information
  4. All of the above
6.  The main purpose of an Operational Dashboard, summarized in a few words, is to help you:
  1. Monitor business activity
  2. Analyze business data
  3. Manage people and processes
  4. Strategize on next steps
7.  The importance of understanding KPIs is how which indicators:
  1. Make the most impact so you can focus on them
  2. Help employees realize their direct impact on the business
  3. Strategically and operationally drive the performance of the business
  4. All of the above
8.  Leading indicators:
  1. Help you respond more immediately to a problem which would impact business
  2. Are analyzed after the fact
  3. Are financial reports which are reviewed at the end of each month
  4. Should only be visible to those who can make changes in processes
9.  Performance Management KPIs are for:
  1. Only Supervisors and Top Management
  2. Only for Employees who report to Supervisors
  3. Only for Top Management
  4. All employees of an organization
10.  A critical indicator that would impact you Hearing Healthcare Business is:
  1. Office traffic
  2. Average selling price
  3. Number of units sold
  4. All of the above