The success of an organization depends on how the organization pursues its objectives. A business objective is an executive statement of direction in support of a corporate strategy. The business objective is a high-level goal, which is quantifiable, measurable, and result-oriented. Larger organizational strategies are evolved through business objectives. To monitor and improve these objectives, organizations use special measurements called key performance indicators (KPIs). Key performance indicators are the detailed specifications used to track business objectives.
The business objective is translated into a KPI, which enables the organization to measure some aspect of the process against a target that they define. When these targets fail, the concerned authority receives an alert in the notifications center. You create a KPI to evaluate and...
