Management control tool, The KPI's constitute a management

Management control tool

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Reference no: EM133768071

Question

The KPI's constitute a management control tool that is used for planning and prioritizing actions, for making decisions and responding to problems in real time [19,20]. Elmar Hörner [21] arrived at the conclusion that one of the most important KPIs for measuring the success of the areas that need improvements in the pharmaceutical domain (e.g., Merck KGaA) is "Decision Making". The continuous monitoring of KPIs makes possible to answer the question of whether the objectives are achievable and, if yes, to what extent, which constitutes the basis for evaluation of the performance of contemporary facilities. As the main role of a KPIs' system is tracking the performance and sustainability in the healthcare facility for the interest's spot; thus, it is fundamental to make an analysis of the facility's needs, strategy and goals. Therefore, in the case where the urgent need of crisis management is the main strategy, KPIs should serve this objective.

Reference no: EM133768071

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