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Which of the following metrics is typically used for long-term business strategies?

  1. Tactical metrics

  2. Operational metrics

  3. Strategic metrics

  4. Focus metrics

The correct answer is: Strategic metrics

Strategic metrics are designed to evaluate the long-term objectives and direction of an organization. These metrics focus on the overarching goals and initiatives that align with the company's vision, mission, and key strategic initiatives, making them essential for understanding and measuring the success of long-term business strategies. By assessing these metrics, organizations can gauge their progress toward achieving their strategic goals, enabling informed decision-making for future growth and sustainability. In contrast, tactical metrics focus on short-term goals, typically concerning specific initiatives or projects that are aimed at achieving immediate results. Operational metrics are concerned with the day-to-day functions of the organization, measuring efficiency and effectiveness in ongoing processes. Focus metrics, while relevant in specific contexts, do not inherently capture the broader strategic objectives that guide long-term business planning. Thus, the emphasis on strategic metrics in the context of long-term business strategies underscores their importance in aligning daily operations with overall strategic goals.