Question 1

A benchmarking effort that is limited to studying the purchasing department of another firm is referred to as ________ benchmarking.

Accepted Answer

A) functional 
B) performance 
C) process 
D) strategic 
E) product 
A) functional 
B) performance 
C) process 
D) strategic 
E) product

Question 2

The concept of interfacing implies that you must have something to offer the target firm in return for sharing information.

Accepted Answer

A) True 
 B)False

Question 3

Customer satisfaction measures are poor indicators of financial performance.

Accepted Answer

A) True 
 B)False

Question 4

Baselining requires the monitoring of key internal firm performance measures over time to identify trends such as improvement to inform managerial decision making.

Accepted Answer

A) True 
 B)False

Question 5

________ benchmarking allows initiator firms to assess their competitive position by comparing products and services with those of target firms.

Accepted Answer

A) Functional 
B) Strategic 
C) Product 
D) Performance 
E) Process 
A) Functional 
B) Strategic 
C) Product 
D) Performance 
E) Process

Question 6

Reject rates, capability analysis, and performance information are examples of ________.

Accepted Answer

A) structural measures 
B) market share data 
C) productivity ratios 
D) financial ratios 
E) quality measures 
A) structural measures 
B) market share data 
C) productivity ratios 
D) financial ratios 
E) quality measures

Question 7

Financial benchmarking involves direct interaction between the initiator firm and the target firms.

Accepted Answer

A) True 
 B)False

Question 8

To begin the management process of benchmarking, a strategy statement outlining the goals and strategies to be used is developed.

Accepted Answer

A) True 
 B)False

Question 9

________ are important for monitoring and tracking the effectiveness of a company's cycle times, waste-reduction measures, and value-added measures.

Accepted Answer

A) Customer-related measures 
B) Productivity ratios 
C) Quality measures 
D) Operating results 
E) Structural measures 
A) Customer-related measures 
B) Productivity ratios 
C) Quality measures 
D) Operating results 
E) Structural measures

Question 10

Explain the importance of using customer-related results as benchmarking data.

Accepted Answer

Customer-related results include custome

Question 11

Which of the following steps in Xerox's 10-step process to benchmarking helps companies prioritize which areas are the first candidates for change and improvement?

Accepted Answer

A) determine the current performance gap 
B) plan and conduct the investigation 
C) identify whom to benchmark 
D) decide what to benchmark 
E) develop action plans 
A) determine the current performance gap 
B) plan and conduct the investigation 
C) identify whom to benchmark 
D) decide what to benchmark 
E) develop action plans

Question 12

Extending one company's benchmarking study findings to another without the first company's permission would be a violation of the principle of use.

Accepted Answer

A) True 
 B)False

Question 13

The concept of ________ implies that you must have something to offer the target firm in return for sharing information.

Accepted Answer

A) reciprocity 
B) baselining 
C) process redesign 
D) interfacing 
E) restructuring 
A) reciprocity 
B) baselining 
C) process redesign 
D) interfacing 
E) restructuring

Question 14

How is a scrap efficiency ratio calculated?

Accepted Answer

Consider the computation of scrap in whi

Question 15

Differentiate between an initiator firm and a target firm. Are these static roles?

Accepted Answer

There are two parties to each benchmarki

Question 16

Explain the process of managing the benchmarking effort.

Accepted Answer

Like other quality management efforts, b

Question 17

It is best to obtain training from organizations that are experienced with benchmarking and its potential legal liabilities.

Accepted Answer

A) True 
 B)False

Question 18

The scrap efficiency formula normalizes the cost of scrap based on the volume of business that a firm does.

Accepted Answer

A) True 
 B)False

Question 19

The higher a firm's scrap efficiency ratio, the less efficient is the use of its materials.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is not one of the potential legal issues described in the benchmarking principle of legality?

Accepted Answer

A) price fixing 
B) dealing arrangements 
C) bid rigging 
D) bribery 
E) unethical behavior 
A) price fixing 
B) dealing arrangements 
C) bid rigging 
D) bribery 
E) unethical behavior

A benchmarking effort that is limited to studying the purchasing department of another firm is referred to as ________ benchmarking.

The concept of interfacing implies that you must have something to offer the target firm in return for sharing information.

Customer satisfaction measures are poor indicators of financial performance.

Baselining requires the monitoring of key internal firm performance measures over time to identify trends such as improvement to inform managerial decision making.

________ benchmarking allows initiator firms to assess their competitive position by comparing products and services with those of target firms.

Reject rates, capability analysis, and performance information are examples of ________.

Financial benchmarking involves direct interaction between the initiator firm and the target firms.

To begin the management process of benchmarking, a strategy statement outlining the goals and strategies to be used is developed.

________ are important for monitoring and tracking the effectiveness of a company's cycle times, waste-reduction measures, and value-added measures.

Explain the importance of using customer-related results as benchmarking data.

Which of the following steps in Xerox's 10-step process to benchmarking helps companies prioritize which areas are the first candidates for change and improvement?

Extending one company's benchmarking study findings to another without the first company's permission would be a violation of the principle of use.

The concept of ________ implies that you must have something to offer the target firm in return for sharing information.

How is a scrap efficiency ratio calculated?

Differentiate between an initiator firm and a target firm. Are these static roles?

Explain the process of managing the benchmarking effort.

It is best to obtain training from organizations that are experienced with benchmarking and its potential legal liabilities.

The scrap efficiency formula normalizes the cost of scrap based on the volume of business that a firm does.

The higher a firm's scrap efficiency ratio, the less efficient is the use of its materials.

Which of the following is not one of the potential legal issues described in the benchmarking principle of legality?

Differing Perspectives on Quality

Quality Theory

Global Supply Chain Quality and International Quality Standards

Strategic Quality Planning

The Voice of the Customer

Quality and Innovation in Product and Process Design

Designing Quality Services

Managing Supplier Quality in the Supply Chain

The Tools of Quality

Statistically Based Quality Improvement for Variables

Statistically Based Quality Improvement for Attributes

Six Sigma Management and Lean Tools

Managing Quality Improvement Teams and Projects

Implementing and Validating the Quality System

Filters

Exam 6: The Voice of the Market

A benchmarking effort that is limited to studying the purchasing department of another firm is referred to as ________ benchmarking.

The concept of interfacing implies that you must have something to offer the target firm in return for sharing information.

Customer satisfaction measures are poor indicators of financial performance.

Baselining requires the monitoring of key internal firm performance measures over time to identify trends such as improvement to inform managerial decision making.

________ benchmarking allows initiator firms to assess their competitive position by comparing products and services with those of target firms.

Reject rates, capability analysis, and performance information are examples of ________.

Financial benchmarking involves direct interaction between the initiator firm and the target firms.

To begin the management process of benchmarking, a strategy statement outlining the goals and strategies to be used is developed.

________ are important for monitoring and tracking the effectiveness of a company's cycle times, waste-reduction measures, and value-added measures.

Explain the importance of using customer-related results as benchmarking data.

Which of the following steps in Xerox's 10-step process to benchmarking helps companies prioritize which areas are the first candidates for change and improvement?

Extending one company's benchmarking study findings to another without the first company's permission would be a violation of the principle of use.

The concept of ________ implies that you must have something to offer the target firm in return for sharing information.

How is a scrap efficiency ratio calculated?

Differentiate between an initiator firm and a target firm. Are these static roles?

Explain the process of managing the benchmarking effort.

It is best to obtain training from organizations that are experienced with benchmarking and its potential legal liabilities.

The scrap efficiency formula normalizes the cost of scrap based on the volume of business that a firm does.

The higher a firm's scrap efficiency ratio, the less efficient is the use of its materials.

Which of the following is not one of the potential legal issues described in the benchmarking principle of legality?

Differing Perspectives on Quality

Quality Theory

Global Supply Chain Quality and International Quality Standards

Strategic Quality Planning

The Voice of the Customer

Quality and Innovation in Product and Process Design

Designing Quality Services

Managing Supplier Quality in the Supply Chain

The Tools of Quality

Statistically Based Quality Improvement for Variables

Statistically Based Quality Improvement for Attributes

Six Sigma Management and Lean Tools

Managing Quality Improvement Teams and Projects

Implementing and Validating the Quality System

Filters