Performance Management

This question bank verified by Studydeets

All Questions

Question 1

Free

Multiple Choice

_____ refers to a four-stage process that provides the mechanisms and systems that monitor the transformation process, ensuring that outputs are produced to the desired quality, quantity, and specification of an organization and its customers.

Choose correct answer/s

Control cycle

Trend analysis

Scenario building

SWOT analysis

Check answer

Question 2

Free

Multiple Choice

Which of the following questions should the managers address as they design control systems?

Choose correct answer/s

What it is?

Who should design?

How to design?

Is it relevant?

Check answer

Question 3

Free

Multiple Choice

DePaul Company has been monitoring the performance of its processes against selected measures. What is DePaul's next step in the control cycle?

Choose correct answer/s

Identify measures that track the right information to assess performance.

Set targets for the selected measures.

Take corrective action.

Set up a balanced scorecard.

Check answer

Question 4

Free

Multiple Choice

In business, only two things can be observed, measured, and monitored:

Choose correct answer/s

suppliers and customers.

behavior and outputs.

resources and growth.

employee satisfaction and loyalty.

Check answer

Question 5

Free

Multiple Choice

The factor that differentiates behavior and output is that

Choose correct answer/s

outputs include the decisions of individual employees.

behavior is controlled at the unit or department level.

outputs are more flexible and diverse.

behavior can be specified for an entire organization.

Check answer

Question 6

Multiple Choice

The _____ was created to help businesses translate strategy into action by identifying the most critical measures to drive business success and linking long-term strategic goals with short-term operational actions.

Choose correct answer/s

ISO 9000 program

strategic review process

balanced scorecard

value chain analysis

To unlock the question

Question 7

Multiple Choice

Which of the following statements about the balanced scorecard is true?

Choose correct answer/s

It helps managers create a set of quantitative and qualitative measurements that are related and mutually reinforcing.

It does not enable managers to make any qualitative measurements.

A company with many business units needs only a single balanced scorecard.

Company mission plays an instrumental role in the balanced scorecard.

To unlock the question

Question 8

Multiple Choice

Because GE operates in many businesses, ranging from aircraft engines to healthcare imaging, GE would

Choose correct answer/s

not be able to use the balanced scorecard.

have to adopt a common strategy for all businesses to be able to use the balanced scorecard.

need to create a unique balanced scorecard for each of its business units.

have to choose one business unit with which it could use the balanced scorecard.

To unlock the question

Question 9

Multiple Choice

Cardinal Company is using cost of goods sold as a measurement of performance, which will be placed under which perspective of the balanced scorecard?

Choose correct answer/s

Financial perspective

Customer perspective

Business process perspective

Learning and growth perspective

To unlock the question

Question 10

Multiple Choice

New Skin, a cosmetics company, is focused on innovation and new product introduction. New Skin will place heavy emphasis on which perspective of the balanced scorecard?

Choose correct answer/s

Financial perspective

Customer perspective

Business process perspective

Learning and growth perspective

To unlock the question

Question 11

Multiple Choice

The accounting system used to assess the specific cost components of producing a product or service is known as

Choose correct answer/s

economic value added.

return on equity.

activity-based costing.

economies of scale.

To unlock the question

Question 12

Multiple Choice

Which of the following refers to the quantitative and qualitative aspects of products or services that customers value most?

Choose correct answer/s

Financial economies

Core competencies

Value propositions

Internal business processes

To unlock the question

Question 13

Multiple Choice

Which of the following statements is true about the various customer metrics?

Choose correct answer/s

The new customer metric is measured by the total number of positive feedbacks received from new and existing customers.

Some companies find it valuable to monitor the amount customers spend on their products relative to all other products.

Retaining existing customers to maintain or increase market share is not an easy task.

Customer satisfaction is one of the metrics that is the most objective and quantitative.

To unlock the question

Question 14

Multiple Choice

Rowling Company is monitoring the amount customers spend on its products relative to all other products. Rowling is focused on which of the various customer metrics?

Choose correct answer/s

Market share

Customer retention

Customer profitability

Account share

To unlock the question

Question 15

Multiple Choice

Downing Company is studying the costs required to attract new customers compared to the lifetime profitability of certain types of customers before it decides which new customers to target. Downing is focused on which of the various customer metrics?

Choose correct answer/s

Customer retention

New customer acquisition

Customer profitability

Market share

To unlock the question

Question 16

Multiple Choice

The _____ perspective identifies the infrastructure and skills needed to carry out business processes, interact with customers, and achieve long-term financial growth.

Choose correct answer/s

customer

learning and growth

financial

business process

To unlock the question

Question 17

Multiple Choice

Which of the following balanced scorecard perspectives is used by managers to identify the company's most important customers and how well the company is doing in meeting customers' needs?

Choose correct answer/s

Internal business process perspective

Customer perspective

Learning and growth perspective

Financial perspective

To unlock the question

Question 18

Multiple Choice

When Dharmesh Shah, the chief technology officer (CTO) of HubSpot.com, traded jobs with Paul English, the CTO of Kayak.com, he was

Choose correct answer/s

implementing the internal business perspective of the balanced scorecard.

using job swap as a means of benchmarking.

using job swap as a means of budgeting.

using job swap as a means of implementing Six Sigma.

To unlock the question

Question 19

Multiple Choice

The managers of Z-Cosmetics, after identifying key measurements, decided to set performance targets for their business. In order to fulfill the purpose, they adopted a process that required management to collect data from Color Cosmetics, a leading manufacturer in the industry. The managers of Z-Cosmetics believed that adopting the best practices across the industry would help them achieve their goals more effectively. Identify the process used by Z-Cosmetics to set performance targets.

Choose correct answer/s

Activity-based costing

Benchmarking

Total Quality Management

Budgeting

To unlock the question

Question 20

Multiple Choice

Which of the following is the first step involved in benchmarking?

Choose correct answer/s

Harvesting and analyzing data

Finding the best companies for each process

Identifying the processes to benchmark

Creating plans for improvement

To unlock the question