None of the provided statements accurately capture the full nature of KPIs. The correct approach involves collaboration in development, a combination of quantitative and qualitative measures, and both standard and domain-specific KPIs as appropriate to the organization’s needs.
KPIs are quantifiable measures that are developed collaboratively to align with strategic goals, and while they are primarily quantitative, they can also reflect qualitative aspects of performance.
KPIs should be standardized throughout the organization to ensure consistency and comparability. This allows for easier correlation and benchmarking across different departments or business units.
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