Performance Management

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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
A

Control cycle

B

Trend analysis

C

Scenario building

D

SWOT analysis

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Question 2
Free
Multiple Choice

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

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A

What it is?

B

Who should design?

C

How to design?

D

Is it relevant?

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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
A

Identify measures that track the right information to assess performance.

B

Set targets for the selected measures.

C

Take corrective action.

D

Set up a balanced scorecard.

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Question 4
Free
Multiple Choice

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

Choose correct answer/s
A

suppliers and customers.

B

behavior and outputs.

C

resources and growth.

D

employee satisfaction and loyalty.

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Question 5
Free
Multiple Choice

 The factor that differentiates behavior and output is that

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A

outputs include the decisions of individual employees.

B

behavior is controlled at the unit or department level.

C

outputs are more flexible and diverse.

D

behavior can be specified for an entire organization.

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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
A
ISO 9000 program
B
strategic review process
C
balanced  scorecard
D
value chain analysis
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Question 7
Multiple Choice

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

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A
It helps managers create a set of quantitative and qualitative measurements that are related and mutually reinforcing.
B
It does not enable managers to make any qualitative measurements.
C
A company with many business units needs only a single balanced scorecard.
D
Company mission plays an instrumental role in the balanced scorecard.
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Question 8
Multiple Choice

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

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A
not be able to use the balanced scorecard.
B
have to adopt a common strategy for all businesses to be able to use the balanced scorecard.
C
need to create a unique balanced scorecard for each of its business units.
D
have to choose one business unit with which it could use the balanced scorecard.
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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
A
Financial perspective
B
Customer perspective
C
Business process perspective
D
Learning and growth perspective
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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
A
Financial perspective
B
Customer perspective
C
Business process perspective
D
Learning and growth perspective
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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
A
economic value added.
B
return on equity.
C
activity-based costing.
D
economies of scale.
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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
A
Financial economies
B
Core competencies
C
Value propositions
D
Internal business processes
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Question 13
Multiple Choice

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

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A
The new customer metric is measured by the total number of positive feedbacks received from new and existing customers.
B
Some companies find it valuable to monitor the amount customers spend on their products relative to all other products.
C
Retaining existing customers to maintain or increase market share is not an easy task.
D
Customer satisfaction is one of the metrics that is the most objective and quantitative.
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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
A
Market share
B
Customer retention
C
Customer profitability
D
Account share
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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
A
Customer retention
B
New customer acquisition
C
Customer profitability
D
Market share
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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
A
customer
B
learning and growth
C
financial
D
business process
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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
A
Internal business process perspective
B
Customer perspective
C
Learning and growth perspective
D
Financial perspective
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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
A
implementing the internal business perspective of the balanced scorecard.
B
using job swap as a means of benchmarking.
C
using job swap as a means of budgeting.
D
using job swap as a means of implementing Six Sigma. 
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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
A
Activity-based costing
B
Benchmarking
C
Total Quality Management
D
Budgeting
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Question 20
Multiple Choice

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

Choose correct answer/s
A
Harvesting and analyzing data
B
Finding the best companies for each process
C
Identifying the processes to benchmark
D
Creating plans for improvement
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