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Exam 17: Strategic Performance Measurement

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Question 1

Multiple Choice

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Which of the following are inputs to the development of organizational strategy?

A) Organizational vision and operating plans
B) Operating plans and core competencies
C) Actual operations and operating plans
D) Organizational vision and core competencies

E) None of the above
F) A) and B)

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Question 2

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Which of the following would be developed earliest when implementing a balanced scorecard?

A) Core competency
B) Marketing campaign
C) Mission statement or vision
D) List of performance measures

E) A) and C)
F) A) and B)

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Question 3

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Formulaic approaches for using balanced scorecard results:

Which of the following measures would most likely be found in the financial perspective of the balanced scorecard?

Which of the following measures would most likely be found in the learning and growth perspective of the balanced scorecard?

Post-sales service includes:

An example of an internal business process is:

The manager of a car dealership has asked you to gather performance measures regarding the customer perspective. Her objective is to have a high proportion of satisfied customers to increase repeat business. List two possible measures you could recommend, and explain your choices.

Which of the following statements is true? I. Traditionally, internal operations were monitored to improve financial performance II. In the balanced scorecard approach, monitoring for improvement is not valued III. Managers believe that monitoring performance measures related to an organizations' learning and growth should lead to improvements in financial performance

Strengths of the balanced scorecard related to communication and linkages include: I. Encouraging clarification of vision and strategies II. Improving organizational consensus III. Selecting measures that reflect the only strengths of the organization

The internal business process perspective in a balanced scorecard is often broken down into its value chain components. Those components include all of the following except the:

The balanced scorecard may be inappropriate for:

Hoshi is the chair of the Accounting Department at Big City College. The college has recently developed a balanced scorecard for its operations and is encouraging departments to do the same. For each perspective, develop one objective and one performance measure that Hoshi might use in a first draft of a balanced scorecard for the Accounting Department (the academic unit, not the accounting function for the college).

Describe nonfinancial performance measures and explain how they are similar to and different from financial performance measures.

The balanced scorecard will be least beneficial when:

Explain why focusing on the internal business process perspective could lead to improved financial performance.

List the four typical balanced scorecard perspectives and give an example of an objective for each perspective. (Note: This question asks for objectives, not measures.)

Which of the following measures would least likely be included in a balanced scorecard's financial perspective?

The balanced scorecard approach has been criticized for not capturing core values related to:

FPM Corporation's strategic plan includes the following statement: "We deliver high-quality and timely service to our internal and external customers." That statement is best described as a(n)