Question

5. What does "choosing KPIs and creating dashboards to keep a track" in outline of business development plan for eco-friendly device to be installed in a standard car to make it eco-friendly and economic mean?

Answer 1

Firstly, KPI is the key performance indicator, which is the measurable values that are been used by the organization for keeping a record of the business objectives and goals. It helps in determining the organizational goals by keeping the record of the same. The KPIs also tell the performance of the organization, by evaluating the day to day performances of its employees. The management can use the database system where the recording is done and then the analysis can be done. With the help of the KPIs, management can also get to know whether they should continue with the same strategies or if there is any change in the strategies required.

Change management is the term which means that the changes occurring in the organization, are managed in a proper way and the management is taking care of its employees during the change in the organization. A proper Key set of indicators are taken into consideration so that each time these indicators are not ignored and when the management uses them, then it would be of great help to them.

So KPIs for an eco-friendly device that is to be installed in a car are :

1. water bills
2. car fuel use
3. travel receipts
4. fuel purchasing records
5. car mileage figures
6. stopping at traffic lights
7. pollution check records

The above-mentioned areas are the key areas where if we look upon then by keeping a record of these would help in an eco-friendly environment and it will be less harmful to the environment.