The best measures that should be captured and reported to managers relate to corporate strategy and are SMART: specific,measurable,actionable,relevant,and timely.Below are examples of poorly constructed performance measures for each of these.For each component of SMART,provide two better measures than the poorly constructed measures provided.
Definitions:
Cost-Of-Living Index
Ratio of the present cost of a typical bundle of consumer goods and services compared with the cost during a base period.
Utility Level
A gauge of the pleasure or fulfillment obtained by a customer through the use of goods and services.
Consumer Satisfaction
Consumer satisfaction measures how products or services provided by a company meet or surpass a customer's expectation.
Necessities
Basic needs or essential items required for living and maintaining a good life.
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