Define Critical Success Factors (CSFs) and Key Performance Indicators (KPIs)

question 89

Essay

Define critical success factors (CSFs) and key performance indicators (KPIs), and explain how managers use them to measure the success of MIS projects.

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Definitions:

Free-Ride

A situation in which an individual benefits from resources, goods, or services without contributing to the cost.

Private Markets

Markets where transactions occur directly between parties without public exchange involvement, often characterized by less regulation.

Socially Optimal Level

A state of resource allocation where the benefits to society are maximized, considering all externalities.

Excise Tax

A tax levied on specific goods or services, such as alcohol, tobacco, and gasoline, usually to discourage their use or to generate revenue.