What Are the Three Types of Metrics That an Organization

question 162

Multiple Choice

What are the three types of metrics that an organization should collect to support continual service improvement (CSI) ?

• A) Return on investment (ROI), value on investment (VOI), quality
• B) Strategic, tactical and operational
• C) Critical success factors (CSFs), key performance indicators (KPIs), activities
• D) Technology, process and service

Calculate economic cost, including opportunity costs and sunk costs, in decision making.

Understand the impact of changes in production capacity on cost curves and firm's costs.

Apply the concept of user cost of capital and its components in the analysis of capital costs.

Analyze how the law of diminishing returns affects costs and the production function in the short run.

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Definitions:

Workers

Individuals employed to perform tasks or services for compensation.

Meetings

Gatherings or assemblies of people, typically working in the same organization, to discuss or act on various topics of common interest.

Effective Teams

Groups of individuals working together cohesively towards a common goal, characterized by clear communication, mutual respect, and collaborative problem-solving.

Formal Leader

An individual who holds an official position of authority and is responsible for directing and managing the efforts of others.