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What is the Meaning of Indicator of management | Definition and What is Indicator of management

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An indicator is something that is used to indicate (i.e., which shows something with signals or signs). The indicator can be physical (such as traffic lights) or abstract (such as statistics).
Management, on the other hand, is the action and the effect to manage or administer. These procedures are designed to implement measures to achieve a goal or accomplish something.
Mean indicator of management data (or sales) which reflects what have been the consequences of measures and actions taken in the past in the context of an organization. The idea is that these indicators provide a basis for action in the present and in the future.
It is important that management indicators reflect accurate and reliable data because the analysis of the situation, otherwise, would be incorrect. In addition, if indicators are ambiguous, the interpretation will be complicated.
The indicator of management to know whether a project or an organization were successful or if they meet the objectives. The head of the organization is usually the one which establishes management indicators, which are frequently used to assess the performance and results.
Experts distinguish different types of management indicators, which are studying competitive advantages, the use of resources, the quality of service and financial performance, for example.
The most commonly used indicators are those which are based on economic data and allow to know the assessment of the turnover and of the costs. All companies want the sales indicator has a sustained increase and that the indicator of cost reduction or, at least, be controlled to maximize their profits.
Published for educational purposes
Meanings, definitions, concepts of daily use

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