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In: Finance

Name at least 1 financial or operations-related statement that managers review monthly that provides insight into...

Name at least 1 financial or operations-related statement that managers review monthly that provides insight into the performance of the business. What does the statement reveal to the manager and how does the manager use it to improve operations?

Solutions

Expert Solution

1) KPI - Key performance indicator

It is one of the major indicator in which the performance of the team or business is keenly look into. This KPI help us to achieve our goals which are set for the organization. In order to achieve the objectives of the business, we need to follow the KPI which portraits the business model how well it is going.

KPI is the measurement of the business performance. From the outside managers look only into KPI to see the level of performance of the business. This KPI includes all the financial expenses, sales, error in operations and all the factors.

KPI will have pure picture of the business, each KPI is set in a way to reflect the outcome of the business and to show where their business stands in the competitive world. As KPI will be reviewed monthly it will be easy for the manager to get the incomes and expenses on the business model. From operations perspective KPI defines the quality of the Business as usual. How well the team is performing their business whether they are going as per the business standards and they are maintaining the client request.

jeff jeffy answered 5 months ago
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