Global Journal of Management and Business Research, F: Real Estate, Event and Tourism Management, Volume 22 Issue 3

The second stage: Development of Key Performance indicators (KPI) for evaluating human economic excellence. KPI (Key Performance Indicators) - "these are quantitative indicators of activity, especially effectiveness and efficiency, which help to measure the level of achievement of goals or the optimality of the process" [11]. In our opinion, the algorithm for the development of key performance indicators (KPIs) describing the economic skills of a person can consist of the following processes: 1. Entering the qualities describing the economic skills of a person into the KPI system using Latin letters :  KPI(E) - Economic education is the main criterion;  KPI(K) - Economic knowledge is the main criterion;  KPI(P) - Professional skills are the main criteria.  KPI(L) - The main criterion is the effective realization of labor capacity.  KPI(B) -The main criterion for the effectiveness of doing business.  KPI(I) -The main criterion is the ratio of income and expenses.  KPI(S) -Investment skill is the main criterion. 2. Expressing the sub-criteria describing the main criteria for evaluating a person's economic skills to the KPI system by means of numbers: − KPI(E) - Economic education: KPI (E1). Hard work; KPI (E2). Economy; KPI(E3). Live by calculation; KPI(E4). The ability to conduct economic affairs; KPI(E5). The ability to control one's ego. KPI(E6). Figurative description of money; KPI(E7). Preservation of property. − KPI(K) - Economic literacy: KPI(K1). Knowing the calculations of all utility bills and ensuring timely payment; KPI(K2). To know the income from the salary and the net income; KPI(K3). The level of imagination about the prices of daily consumer goods and services; KPI(K4). Ability to create and maintain a family budget; KPI (K5). The skill of conducting price negotiations and buying experience when buying things from the market and stores; KPI(K6). Knowledge of taxes and their social importance; KPI(K7). Knowing the reasons for frequent changes in the prices of goods and services in the market economy. − KPI(P) - Professional skills: KPI(P1). High career and professional skills in the position; KPI(P2). The career and professional skills in the position are average; KPI(P3). The career and professional skills in the position are low. − KPI(L) - Effective realization of labor capacity: KPI(L1). There is no income from work, the income is only from entrepreneurship or other financial sources; KPI(L2). As a hired or independent worker, he earns little, just enough to cover his expenses; KPI(L3). The average income he receives as a hired or self-employed worker is enough to fully cover his expenses and partially cover his family's expenses; KPI(L4). The income he receives as a hired or independent worker is not bad, enough to cover his and his family's expenses; KPI(L5). The income from both hired labor and self-employment is high, fully sufficient to cover the expenses of himself and his family; KPI(L6). His income from wage labor and self-employment is high, more than covering his and his family's expenses. − KPI(B) - Effectiveness of doing business activities: KPI(B1). There is no income from entrepreneurship, the income is only from hired labor or self- employment; KPI(B2). Entrepreneurial income is up to 25% more than the income from labor (the sum of wage and self-employment); KPI(B3). Entrepreneurial income is 26% to 50% more than the income from work; KPI(B4). Entrepreneurial income is 51% to 75% more than the income from labor; KPI(B5). Entrepreneurial income is 76% to 100% more than the income from work; KPI(B6). Business income is more than 100% of income from labor. − KPI(I) - Proportion of income and expenses: KPI(I1). Consumers do not save all of their monthly (annual) income by spending it on expenses; KPI(I2). Spends 99% to 95% of monthly (annual) income and saves 1% to 5%; KPI(I3). Spends 94% to 90% of my monthly (annual) income and saves 6% to 10%; KPI(I4). Spends 89% to 85% of my monthly (annual) income and saves 11% to 15%; KPI(I5). . According to the "80/20" golden rule of wealth, 80% or less of monthly (annual) income is spent on consumer spending and 20% or more is saved. − KPI(S) - Investment skills: KPI (S1). Does not have a fund or keeps the funds at home and does not receive income from them; KPI(S2). By using (investing in) their savings, they receive additional profit of up to 25% of their total income per month (year); KPI(S3). Using their savings, they receive additional profit from 26% to 50% of their total income per month (year); KPI(S4). Using their savings, they receive additional benefits from 51% to 75% of their total monthly (annual) income; KPI(S5). Using their savings, they receive additional benefits from 76% to 99% of their total income per month (year); KPI(S6). Using their savings, they receive additional profit of 100% of their total income per month (year) and more. 3. Create a special test to determine the level of development of people's economic skills based on the main and sub-criteria of evaluating human economic skills. The Third Stage: Determination of the quality status assessment scale of Key Performance Indicators (KPI) to determine the economic skills of a person. In the diagnostic process, it is recommended to evaluate the 30 Global Journal of Management and Business Research Volume XXII Issue III Version I Year 2022 ( ) F © 2022 Global Journals The Mechanism of Assessing Human’s Economic Excellence by using “KPI” Tools