Question

Prometheus Corp. is a large-scale manufacturer of consumer electronic gadgets. As part of its performance management system, Prometheus measures the amount each employee contributes to the profits of the company, and they are either held accountable or rewarded based on their contributions. With regard to performance measurement, under which of the following terms would contribution to profits be categorized?A. Key risk indicators (KRIs)B. Critical success factors (CSFs)C. Non-performing assets (NPAs)D. Key performance indicators (KPIs)E. Behavioral Observation Scales (BOSs)

Answer 1

Answer:

B. Critical success factors (CSFs)

Explanation:

Critical Success Factors, or CSFs, are measures of incentives, events, or requirements needed within such a program or task to achieve a goal.

Prometheus Corp. measures it's staffs performance in the company and awards it accordingly.

These factors vary by organization, representing current and future priorities. Whether it was a restaurant, an insurance broker or a vendor, planning the approach with those things that allow the company to accomplish its task is important.

Such crucial factors mostly have a significant impact on how productive and efficient an organization is in achieving strategic objectives inside the project and are critical to maintaining a competitive edge.