KPI in Honeywell Meaning
The KPI meaning in Honeywell terms is "Key Performance Indicator". There are 1 related meanings of the KPI Honeywell abbreviation.
KPI on Honeywell Full Forms
- Key Performance Indicator A performance indicator or key performance indicator (KPI) is a type of performance measurement. An organization may use KPIs to evaluate its success, or to evaluate the success of a particular activity in which it is engaged. Sometimes success is defined in terms of making progress toward strategic goals, but often success is simply the repeated, periodic achievement of some level of operational goal (e.g. zero defects, 10/10 customer satisfaction, etc.). Accordingly, choosing the right KPIs relies upon a good understanding of what is important to the organization. 'What is important' often depends on the department measuring the performance - e.g. the KPIs useful to finance will be quite different from the KPIs assigned to sales. Since there is a need to understand well what is important (to an organization), various techniques to assess the present state of the business, and its key activities, are associated with the selection of performance indicators. These assessments often lead to the identification of potential improvements, so performance indicators are routinely associated with 'performance improvement' initiatives. A very common way to choose KPIs is to apply a management framework such as the balanced scorecard.
Frequently Asked Questions (FAQ)
What does KPI stand for Honeywell?
KPI stands for Key Performance Indicator in Honeywell terms.
What is the shortened form of Key Performance Indicator in Honeywell?
The short form of "Key Performance Indicator" is KPI for Honeywell.
Citation
KPI in Honeywell. Acronym24.com. (2021, September 20). Retrieved December 23, 2024 from https://acronym24.com/kpi-meaning-in-honeywell/
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