Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Return on assets (ROA) and return on investments (ROI) are examples of ________.

Accepted Answer

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

Question 3

Explain the process of benchmarking.

Accepted Answer

Benchmarking is the sharing of informati

Question 4

State the four key problems with benchmarking.

Accepted Answer

Benchmarking is not a simple activity, a

Question 5

In functional benchmarking, a company focuses its benchmarking efforts on a single function to improve the operation of that function.

Accepted Answer

A) True 
 B)False

Question 6

In performance benchmarking, the initiator firm focuses its observation and investigation on business processes.

Accepted Answer

A) True 
 B)False

Question 7

What is the formula used to calculate scrap efficiency?

Accepted Answer

A)  scrap/cost of goods sold 
B)  (cost of goods sold - scrap)/scrap 
C)  cost of goods sold/scrap 
D)  (scrap - cost of goods sold) /scrap 
E)  cost of goods sold × scrap 
A)  scrap/cost of goods sold 
B)  (cost of goods sold - scrap)/scrap 
C)  cost of goods sold/scrap 
D)  (scrap - cost of goods sold) /scrap 
E)  cost of goods sold × scrap

Question 8

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 9

The reengineering process involves gathering and analyzing data on an ongoing basis to identify performance trends and changes.

Accepted Answer

A) True 
 B)False

Question 10

________ are useful in measuring the extent to which a firm effectively uses the scarce resources that are available to the firm.

Accepted Answer

A)  Quality measures 
B)  Financial ratios 
C)  Productivity ratios 
D)  Market share data 
E)  Structural measures 
A)  Quality measures 
B)  Financial ratios 
C)  Productivity ratios 
D)  Market share data 
E)  Structural measures

Question 11

The sharing of information between companies so that both can improve is called ________.

Accepted Answer

A)  reengineering 
B)  baselining 
C)  benchmarking 
D)  interfacing 
E)  data mining 
A)  reengineering 
B)  baselining 
C)  benchmarking 
D)  interfacing 
E)  data mining

Question 12

Depth refers to organizational elements such as responsibilities, measurements, information technology, and skills.

Accepted Answer

A) True 
 B)False

Question 13

Business process maps are used to identify the exact performance measures and metrics needed from the target firm.

Accepted Answer

A) True 
 B)False

Question 14

________ is based on the concept of 5w2h.

Accepted Answer

A)  Business process benchmarking 
B)  Statistical process control 
C)  Total quality management 
D)  Business process reengineering 
E)  Reverse engineering 
A)  Business process benchmarking 
B)  Statistical process control 
C)  Total quality management 
D)  Business process reengineering 
E)  Reverse engineering

Question 15

A benchmark is an organization recognized for its exemplary operational performance.

Accepted Answer

A) True 
 B)False

Question 16

Total factor productivity is less sensitive to differences in costing conventions and accounting practices.

Accepted Answer

A) True 
 B)False

Question 17

The scrap efficiency can be calculated by dividing the cost of scrap by the cost of goods sold.

Accepted Answer

A) True 
 B)False

Question 18

In the control process, the inputs are aligned together to form the product or service.

Accepted Answer

A) True 
 B)False

Question 19

The process of dismantling competitors' products to understand the strengths and weaknesses of their designs is referred to as ________.

Accepted Answer

A)  benchmarking 
B)  reengineering 
C)  baselining 
D)  inverse production 
E)  reverse engineering 
A)  benchmarking 
B)  reengineering 
C)  baselining 
D)  inverse production 
E)  reverse engineering

Question 20

Make-Do, a national automotive painting service, paints cars for $199. Their work standard for such a job is $20.00 for labor and $30.00 for paint. They consume $10 worth of supplies and $3 of energy during their service. What is their total factor productivity?

Accepted Answer

A)  3.16 
B)  9.95 
C)  5.83 
D)  13.6 
E)  18.24 
A)  3.16 
B)  9.95 
C)  5.83 
D)  13.6 
E)  18.24

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

Return on assets (ROA) and return on investments (ROI) are examples of ________.

Explain the process of benchmarking.

State the four key problems with benchmarking.

In functional benchmarking, a company focuses its benchmarking efforts on a single function to improve the operation of that function.

In performance benchmarking, the initiator firm focuses its observation and investigation on business processes.

What is the formula used to calculate scrap efficiency?

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

The reengineering process involves gathering and analyzing data on an ongoing basis to identify performance trends and changes.

________ are useful in measuring the extent to which a firm effectively uses the scarce resources that are available to the firm.

The sharing of information between companies so that both can improve is called ________.

Depth refers to organizational elements such as responsibilities, measurements, information technology, and skills.

Business process maps are used to identify the exact performance measures and metrics needed from the target firm.

________ is based on the concept of 5w2h.

A benchmark is an organization recognized for its exemplary operational performance.

Total factor productivity is less sensitive to differences in costing conventions and accounting practices.

The scrap efficiency can be calculated by dividing the cost of scrap by the cost of goods sold.

In the control process, the inputs are aligned together to form the product or service.

The process of dismantling competitors' products to understand the strengths and weaknesses of their designs is referred to as ________.

Make-Do, a national automotive painting service, paints cars for $199. Their work standard for such a job is $20.00 for labor and $30.00 for paint. They consume $10 worth of supplies and $3 of energy during their service. What is their total factor productivity?

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

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

Return on assets (ROA) and return on investments (ROI) are examples of ________.

Explain the process of benchmarking.

State the four key problems with benchmarking.

In functional benchmarking, a company focuses its benchmarking efforts on a single function to improve the operation of that function.

In performance benchmarking, the initiator firm focuses its observation and investigation on business processes.

What is the formula used to calculate scrap efficiency?

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

The reengineering process involves gathering and analyzing data on an ongoing basis to identify performance trends and changes.

________ are useful in measuring the extent to which a firm effectively uses the scarce resources that are available to the firm.

The sharing of information between companies so that both can improve is called ________.

Depth refers to organizational elements such as responsibilities, measurements, information technology, and skills.

Business process maps are used to identify the exact performance measures and metrics needed from the target firm.

________ is based on the concept of 5w2h.

A benchmark is an organization recognized for its exemplary operational performance.

Total factor productivity is less sensitive to differences in costing conventions and accounting practices.

The scrap efficiency can be calculated by dividing the cost of scrap by the cost of goods sold.

In the control process, the inputs are aligned together to form the product or service.

The process of dismantling competitors' products to understand the strengths and weaknesses of their designs is referred to as ________.

Make-Do, a national automotive painting service, paints cars for $199. Their work standard for such a job is $20.00 for labor and $30.00 for paint. They consume $10 worth of supplies and $3 of energy during their service. What is their total factor productivity?

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