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DEFINITION 1: Performance indicator refers to the means by which an objective can be judged to have been achieved or not achieved. Indicators are therefore tied to goals and objectives and serve simply as âyardsticksâ by which to measure the degree of success in goal achievement.
A performance scorecard is a graphical representation of the progress over time of some entity, such as an enterprise, an employee or a business unit, toward some specified goal or goals.Performance scorecards are widely used in many industries throughout both the public and private sectors.he integral concepts of scorecards are targets and key performance indicators (KPIs). KPIs are metrics used to evaluate factors that are crucial to the success of an organization; targets are specific goals for those indicators.