Understanding the Importance of KPIs

This assignment delves into the significance of Key Performance Indicators (KPIs) in organizational management. It examines how KPIs facilitate performance evaluation, decision-making, and process improvement within a business context. The document presents various statements regarding the benefits of KPIs, asking respondents to indicate their level of agreement or disagreement with each statement. This structured approach allows for a comprehensive understanding of the perceived value and impact of KPIs on business operations.

QUESTIONNAIRE
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TABLE OF CONTENTS
A. Introduction and purpose ...........................................................................................................3
B. Demographic information ..........................................................................................................3
C.......................................................................................................................................................4
D.......................................................................................................................................................4
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A. Introduction and purpose
Questionnaire is the tool, which assists researcher in the collection of primary data. By
preparing suitable questionnaire, scholar can gather enough amounts of reliable data for finding an
appropriate solution of the research issue. Questionnaire includes both open and close-ended
questions, which help researcher in evaluating the mind-set of respondents effectually. Purpose of
scholar behind preparing questionnaire is to assess the views of managers, team leaders and
supervisors of oil and gas companies regarding the extent to which balance scorecard and KPI's aid
decision makers of management in making a suitable framework. It is the most effectual primary
data collection method which assists scholar in evaluating the mindset of respondents. Usually, in
interview, interviewees are hesitated to give fair answer regarding the issues. Thus, by conducting
survey, researcher can encourage team leaders as well as higher and middle level managers to
present their fair views.
Moreover, in survey, scholar ensures that confidentiality will be maintained about the
personal information of the respondents to the large extent. In this way, with the help of below
mentioned questionnaire, investigator is able to gather primary data. The main purpose behind
undertaking likert scale questionnaire is to make deeper assessment of the viewpoints of
respondents through the means of five to nine pre-coded questions. This in turn enables scholar to
determine the level to which balance scorecard and KPI's affect the decision making of top level
managers of oil and gas sector. Thus, by making use of such primary information researcher would
become able to present the fair solution of issue.
B. Demographic information
1. Gender
 Male ( )
 Female ( )
2. Age
 Below 25 ( )
 26-35 ( )
 36-45 ( )
 Above 45 years ( )
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3. Qualifications
 Bachelor education ( )
 Professional level ( )
 PHD ( )
4. Title of the job
 Managers ( )
 Non-managers ( )
5. Level of experience
 2-4 years ( )
 5-7 years ( )
 8-10 years ( )
C.
1. Does your organization make use of balance scorecard?
 Yes ( )
 No ( )
2. Do you have knowledge regarding all the perspectives of balance scorecard?
 Yes ( )
 No ( )
3. Does your organization sets KPI's for measuring and evaluating organizational performance?
 Yes ( )
 No ( )
4. Do you agree that KPI's help top management in assessing deviations from actual organizational
performance?
 Yes ( )
 No ( )
5. Do you think that balance scorecard offer valuable information to the management for decision
making?
 Yes ( )
 No ( )
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D.
Section 1
Area 1: Balance scorecard is the most
effectual tool, which can be easily
operated by the management team.
Strongly
agree
Agree Neutral Disagree Strongly
disagree
1 Managers can make use of BSC for
decision making easily.
2 BSC is a highly flexible application,
which can be undertaken by the
personnel for better decision making.
3 For making use of balance scorecard
technique, individual requires high level
of skills and competency level.
4 BSC makes the job of management team
easier in relation to making suitable
decisions.
5 Balance scorecard technique is easy to
understand and flexible in use.
6 BSC is a highly useful tool which helps
management team in framing competent
and strategic framework.
7 This tool enables management team to
make evaluation of the internal business
processes or aspects of firm such as
cycle time, unit cost, yield, etc.
8 BSC helps in determining cause and
effect relationship of the problem.
9 It encourages personnel to think in a
highly innovative manner.
10 BSC helps in enhancing the quality of
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decision making.
Section 2
Area 2: Balance scorecard helps
personnel of top management in
assessing organizational performance
and making effectual decisions.
Strongly
agree
Agree Neutral Disagree Strongly
disagree
1 Balance scorecard (BSC) helps in
evaluating cash flow aspect of the firm.
2 BSC helps company in making
assessment of sales growth and operating
income.
3 Sales and other financial measures help
management team of oil and gas
companies in effectual decision making.
4 Balance scorecard technique helps in
resolving the problems in an effectual
way.
5 This technique helps in making suitable
decisions.
6 BSC technique provides assistance to the
management team in making evaluation
of sales generated by the firm from new
products.
7 Balance scorecard helps in measuring or
evaluating both financial and non-
financial aspects.
8 Managers can adjust the performance
management system when output does
not meet the expectation level.
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9 It helps in making co-ordination between
vision and strategic planning of the firm.
10 It offers opportunity to the business
organization to undertake corrective
measures within suitable time frame and
thereby, attain organizational goals and
objectives.
Section 3
Area 3: BSC assists management team
of oil and gas organization in
monitoring their own performance.
Strongly
agree
Agree Neutral Disagree Strongly
disagree
1 By making comparison of the actual
performance with predetermined
standards, managers can monitor and
evaluate their performance level.
2 Balance scorecard helps management
team in making plan regarding their
working aspects.
3 BSC provides management team with
feedback in relation to the activities
performed by them.
4 It helps management team in making co-
ordination regarding their working
aspects.
5 This technique allows personnel to
measure the working aspects which are
accomplished by them.
6 It helps in reducing the level of intangible
uncertainty.
7 Balance scorecard technique also assists
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in measuring the financial performance of
decision making which is taken by the
management team.
8 It facilitates effectual comparison between
present and past performance.
9 It helps personnel in identifying the areas
which they need to improve.
10 Members of management team can
improve their performance through the
technique of balance scorecard.
Section 4
Area 4: Key performance indicators
help in making evaluation of the
financial and non-financial aspects of
business enterprise operating in oil
and gas sector.
Strongly
agree
Agree Neutral Disagree Strongly
disagree
1 It helps in evaluating satisfaction level
of the customers.
2 KPIs helps company in evaluating their
market share.
3 KPI measure helps management team in
evaluating the effectiveness of
strategies framed by them.
4 KPIs help in improving the operational
performance of corporation.
5 Key performance indicators help in
assessing the profit level of firm.
6 Key measures of performance help in
making evaluation of the success of
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new product.
7 Oil and gas company can assess the
sales and profitability aspect more
effectually by setting suitable measures.
8 Performance indicators help in making
evaluation of business performance in
against to previous years.
9 KPIs also help business unit in making
comparison of its performance in
against to the competitors.
10 Key measures assist management team
in monitoring their performance level.
Section 5
Area 5: KPI's help management team
in making effectual decisions.
Strongly
agree
Agree Neutral Disagree Strongly
disagree
1 KPIs help in making improvements in the
internal business process through suitable
decision-making.
2 Key measures provide assistance to
management team in evaluating outcomes
in against to the predetermined aspects.
3 Personnel of management team can find
out deviations by taking into account the
suitable measures.
4 Output of KPI helps business organization
in setting suitable objectives.
5 KPIs assist in maintaining the quality of
decision-making.
6 Both qualitative and quantitative aspects
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