definitions Flashcards
(15 cards)
change
any alteration to a business’s internal or external environment
business change
the adoption of a new idea or behaviour by a business
proactive change management
initiate change by forseeing pressures in the dynamic environment and implementing change to take advantage
reactive change management
the business is impacted by pressures from the business environments and then responds as a result
key performance indicators (KPI)
measures or a set of data that allows a business to determine whether it’s meeting its business objectives
percentage of marketshare (KPI)
a business’s proportion of total sales in an industry for a particular good or service, expressed as a percentage
net profit figures (KPI)
amount remaining after all operating expenses have been deducted from the business’s total revenue
rate of production growth (KPI)
measures the rate of change of a business’s ability to transform inputs into outputs
number of sales (KPI)
the total quantity of products purchased by customers
rate of staff absenteeism (KPI)
a perecentage indicating the number of work days lost due to unscheduled staff absense from work, especially without good reason
level of staff turnover (KPI)
the number of employees that leave a business during a set period and need to be replaced
level of wastage (KPI)
the amount of excess and unused inputs that have not been converted into outputs
number of customer complaints (KPI)
the amount of customers who express their disatisfaction of a product provided by a business
number of website hits (KPI)
the amount of customer visits a business’s online platform receives for a specific period of time
number of workplace accidents (KPI)
the amount of incidents in the working environment that have negatively impacted the health and safety of employees
