Exam 10: Performance Management

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.

The management of Z-Cosmetics,after identifying key measurements,decided to set performance targets for its business.In order to fulfill the purpose,it adopted a process which required the 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.

Measuring drivers without outcomes leads to confusion and wasted resources.

Which of the following is a main function of a control cycle?

Market share of target customers may increase at the same time there is an increase in non-target markets,showing that the company is not meeting strategic objectives.

Internal business processes are important because they represent the day-to-day operations that deliver products and services to customers.

Which of the following is the most valuable benefit of the balanced scorecard?

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

The factor that differentiates outcomes from drivers in business is that:

Which of the following is the ultimate goal of Total Quality Management?

List four benefits of interactive control systems.

Which of the following statements is true about the financial perspective of a balanced scorecard?

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

ColorZone,a cosmetics manufacturing company,introduced a new range of cosmetics targeting the younger population.The company spent a lot on advertisements in an attempt to reach more customers and increase sales.However,the money invested on promotion overweighed the sales profit in the initial months.From this scenario it can be inferred that the company is in the _____ of business.

The factor that differentiates behavior and output is that:

Which of the following is one of the most important internal business process measures?

The control cycle helps to make high level strategy more concrete by breaking it down into operational objectives.

The control cycle includes a mechanism to improve a business's response to the external environment,known as strategic control.

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

Interactive control systems promote continuous communication between managers and subordinates throughout the entire organization.