The Best Example on How Indicator Answers Affect a Business

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Indicator answers simply defined would be answers to questions of great value to be considered an indicator. In a business setting, however, these can mean a lot of things. Check additional information about Indicator Answers.

Overtime, you might have already heard enough of indicators within the workplace you are in. This is most especially true if you offer products or services and if the industry you are in places utmost emphasis on marketing. However, it actually pays to know how indicator answers can affect what a business has to offer.

Are you familiar with HRCA? HRCA or Human Rights Compliance Assessment is a diagnostic tool designed to help companies determine potential human rights violations caused by their operations on their employees, local residents, and stakeholders. You may not have this in your state but please keep in mind that we are mentioning all these to provide a perfect example.

This tool is on a database containing 350 questions and 1,000 corresponding human rights indicators. HRCA was published in 2005 and has been serving as an interactive computer program that allows companies to modify it based on the nature of their businesses. Its indicators are updated annually to ensure that the tool would be able to serve its very purpose - that of addressing real life company problems.

There are three things that you would have to know in order to understand this example. First, there is a main question that needs to be answered. It is a question of whether or not your company complies or violates a specific human right. Second, there are indicators to deal with on this tool. This is done to make sure that you get a valid answer for your every question. Finally, there are the answers to these indicators which would eventually allow you to answer the main question.

As with any business aspect, it is important to specify indicators. However, as compared to marketing, this tool is 'customizable' enough, depending on what appears to be the current situation and nature of the business. This thus offers flexibility and ensures accuracy in its results.

The tool, however, has its own suggested indicators, which serve as user guidelines. Indicators in this tool are categorized into three; policy, procedure, and performance. The policy indicator aims to help answer the question of whether or not a company has policies and guidelines in place to address human rights issues that are of concern in the main question. Procedure and performance indicators, on the other hand, inquire about whether or not the company has appropriate procedures to apply these policies and verify the company's performance on the issue respectively. Therefore, it is essential that these indicators be contemplated on thoroughly before assuming an answer as to whether there is indeed a problem or not.

Now, our best example - your indicator answers highly relate to the main question. In this tool, you are allowed to modify your indicators so you are sure to answer questions relevant to the main question, and also, to ensure that these indicators are applicable to the nature of the work of the company. In the 'profit-driven' aspect of the business world though, this is not possible. You would have to market your services - you see your marketing indicators and you simply work on them. Additionally, you try to contemplate on indicators to see if you could have a sale or not. A tool and a real life situation - considered within different areas but able to provide a perfect example on how indicators and its answers affect your business.

If you are interested in Indicator Answers, check this link to find out more about metric answers. Also, you can check other articles in BSC Training category.