A company must establish business objectives. The company uses various business strategies, processes, and tools to achieve its goals. A key performance indicator (KPI) is a measure that aligns with a business objective to help determine whether the company is on track to meet the purpose. Identify and monitor KPIs to determine whether the company is performing to the level necessary to achieve its objectives. If not, the company will make needed adjustments to the business operational processes to improve performance to meet the measure outlined in the KPI.
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