Question 1

Which of the following statements regarding the use of strategy in companies is correct?

Accepted Answer

A) All employees are challenged to develop individual personal objectives that support corporate objectives. 
B) CEOs and senior leadership can implement a company's strategy by themselves. 
C) It is safe to assume that the workforce is incapable of understanding these concepts and ideas. 
D) All of the above are correct. 
A) All employees are challenged to develop individual personal objectives that support corporate objectives. 
B) CEOs and senior leadership can implement a company's strategy by themselves. 
C) It is safe to assume that the workforce is incapable of understanding these concepts and ideas. 
D) All of the above are correct. A

Question 2

Draw a strategy map that identifies the cause-and-effect linkages of the following objectives:
Market share
Strategic technology availability
Grow revenues
Design and develop new products

Accepted Answer

Strategic technology availability→Design and develop new products→Market share→Grow revenues

Question 3

What is a key performance indicator scorecard and how does it differ from the Balanced Scorecard? Which is more effective?

Accepted Answer

The Balanced Scorecard translates an organization's strategy into a set of performance measures that put that strategy into action with clearly-stated objectives, whereas the key performance indicator scorecard does not link the performance indicators to a strategy. The Balanced Scorecard is more effective because it links to the performance measures to a company's strategy.

Question 4

The customer perspective of the Balanced Scorecard focuses on excellence in processes which satisfy customers.

Accepted Answer

A) True 
 B)False

Question 5

A chain of cause-and-effect relationships that appropriately link the four balanced scorecard perspectives is:

Accepted Answer

A) a high return on investment causes customer loyalty that results in skilled production workers that improve process quality. 
B) skilled production workers help to produce process quality that results in customer loyalty that helps to increase return on investment. 
C) customer loyalty results in a high return on investment that results in the ability to attract skilled production workers that improve process quality. 
D) improved process quality results in a high return on investment that causes customer loyalty that results in the ability to attract skilled production workers. 
A) a high return on investment causes customer loyalty that results in skilled production workers that improve process quality. 
B) skilled production workers help to produce process quality that results in customer loyalty that helps to increase return on investment. 
C) customer loyalty results in a high return on investment that results in the ability to attract skilled production workers that improve process quality. 
D) improved process quality results in a high return on investment that causes customer loyalty that results in the ability to attract skilled production workers.

Question 6

Key performance indicator scorecards will typically use common measures,such as customer satisfaction,process quality,cost,and employee satisfaction and morale,.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements is true?

Accepted Answer

A) Vision and mission statements set the general direction for the organization. 
B) Strategy is a concise, internally-focused statement of how the organization expects to compete and deliver value to customers. 
C) Mission is a concise, externally-focused statement that expresses how the organization wants to be perceived by the external world. 
D) Vision is about selecting the set of activities to create a sustainable difference in the marketplace. 
A) Vision and mission statements set the general direction for the organization. 
B) Strategy is a concise, internally-focused statement of how the organization expects to compete and deliver value to customers. 
C) Mission is a concise, externally-focused statement that expresses how the organization wants to be perceived by the external world. 
D) Vision is about selecting the set of activities to create a sustainable difference in the marketplace.

Question 8

What are the four key perspectives in the Balanced Scorecard? In a strategy map,what are the cause-and effect linkages among these four perspectives?

Accepted Answer

The Balanced Scorecard is a strategic pl

Question 9

If the link to strategy is not clearly established,key performance indicator cards will lead to local but not to global or strategic improvements.

Accepted Answer

A) True 
 B)False

Question 10

What is the key ingredient to successful Balanced Scorecard implementation? Explain.

Accepted Answer

The key ingredient to successful Balance

Question 11

To effectively use the Balanced Scorecard,nonprofit and government organizations:

Accepted Answer

A) must identify a clear strategy with outcomes identified. 
B) must focus on financial success as their primary objective. 
C) must shift thinking from what it plans to accomplish to what it plans to do. 
D) These organizations cannot effectively use the Balanced Scorecard. 
A) must identify a clear strategy with outcomes identified. 
B) must focus on financial success as their primary objective. 
C) must shift thinking from what it plans to accomplish to what it plans to do. 
D) These organizations cannot effectively use the Balanced Scorecard.

Question 12

How does a Balanced Scorecard for nonprofit and government agencies differ from a for-profit scorecard?

Accepted Answer

The organization's mission drives the no

Question 13

The FIRST step in developing strategic objectives for the Balanced Scorecard is:

Accepted Answer

A) defining the long-run financial objectives. 
B) identifying the target customer. 
C) articulating the organization's vision. 
D) select objectives for the customer value proposition. 
A) defining the long-run financial objectives. 
B) identifying the target customer. 
C) articulating the organization's vision. 
D) select objectives for the customer value proposition.

Question 14

Outcomes,rather than activities,primarily drive the strategy of nonprofit and government organizations.

Accepted Answer

A) True 
 B)False

Question 15

Dakota's value proposition is:

Accepted Answer

A) product innovation and leadership. 
B) lowest total cost. 
C) complete customer solutions. 
D) employees recognizing customer needs. 
A) product innovation and leadership. 
B) lowest total cost. 
C) complete customer solutions. 
D) employees recognizing customer needs.

Question 16

The Balanced Scorecard is said to be "balanced" because it measures:

Accepted Answer

A) short-term and long-term objectives. 
B) financial and nonfinancial objectives. 
C) internal and external objectives. 
D) All of the above are correct. 
A) short-term and long-term objectives. 
B) financial and nonfinancial objectives. 
C) internal and external objectives. 
D) All of the above are correct.

Question 17

Database and information systems are physical assets which create distinctive value for companies.

Accepted Answer

A) True 
 B)False

Question 18

________ are generally written as action phrases and may also include the means and desired results.

Accepted Answer

A) Mission statements 
B) Objectives 
C) Targets 
D) Strategies 
A) Mission statements 
B) Objectives 
C) Targets 
D) Strategies

Question 19

Nonprofit and government organizations:

Accepted Answer

A) cannot use the Balanced Scorecard because they have no customers. 
B) cannot use the Balanced Scorecard because they have no financial objective. 
C) may use the Balanced Scorecard by adding a social impact perspective to the top of the strategy map. 
D) may use the Balanced Scorecard by not linking it to mission and strategy. 
A) cannot use the Balanced Scorecard because they have no customers. 
B) cannot use the Balanced Scorecard because they have no financial objective. 
C) may use the Balanced Scorecard by adding a social impact perspective to the top of the strategy map. 
D) may use the Balanced Scorecard by not linking it to mission and strategy.

Question 20

Many intangible assets:

Accepted Answer

A) do not appear on the balance sheet since it is difficult to place a reliable financial value on them. 
B) should be evaluated with ROI and other performance measures. 
C) can be measured and managed with current financial control systems. 
D) are unimportant because they have no physical substance. 
A) do not appear on the balance sheet since it is difficult to place a reliable financial value on them. 
B) should be evaluated with ROI and other performance measures. 
C) can be measured and managed with current financial control systems. 
D) are unimportant because they have no physical substance.

Which of the following statements regarding the use of strategy in companies is correct?

Draw a strategy map that identifies the cause-and-effect linkages of the following objectives: Market share Strategic technology availability Grow revenues Design and develop new products

What is a key performance indicator scorecard and how does it differ from the Balanced Scorecard? Which is more effective?

The customer perspective of the Balanced Scorecard focuses on excellence in processes which satisfy customers.

A chain of cause-and-effect relationships that appropriately link the four balanced scorecard perspectives is:

Key performance indicator scorecards will typically use common measures,such as customer satisfaction,process quality,cost,and employee satisfaction and morale,.

Which of the following statements is true?

What are the four key perspectives in the Balanced Scorecard? In a strategy map,what are the cause-and effect linkages among these four perspectives?

If the link to strategy is not clearly established,key performance indicator cards will lead to local but not to global or strategic improvements.

What is the key ingredient to successful Balanced Scorecard implementation? Explain.

To effectively use the Balanced Scorecard,nonprofit and government organizations:

How does a Balanced Scorecard for nonprofit and government agencies differ from a for-profit scorecard?

The FIRST step in developing strategic objectives for the Balanced Scorecard is:

Outcomes,rather than activities,primarily drive the strategy of nonprofit and government organizations.

Dakota's value proposition is:

The Balanced Scorecard is said to be "balanced" because it measures:

Database and information systems are physical assets which create distinctive value for companies.

________ are generally written as action phrases and may also include the means and desired results.

Nonprofit and government organizations:

Many intangible assets:

How Management Accounting Information Supports Decision Making

Using Costs in Decision Making

Accumulating and Assigning Costs to Products

Activity-Based Cost Systems

Measuring and Managing Customer Relationships

Measuring and Managing Process Performance

Measuring and Managing Life-Cycle Costs

Behavioral and Organizational Issues in Management Accounting and Control Systems

Using Budgets for Planning and Coordination

Financial Control

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Exam 2: The Balanced Scorecard and Strategy Map

Which of the following statements regarding the use of strategy in companies is correct?

Draw a strategy map that identifies the cause-and-effect linkages of the following objectives: Market share Strategic technology availability Grow revenues Design and develop new products

What is a key performance indicator scorecard and how does it differ from the Balanced Scorecard? Which is more effective?

The customer perspective of the Balanced Scorecard focuses on excellence in processes which satisfy customers.

A chain of cause-and-effect relationships that appropriately link the four balanced scorecard perspectives is:

Key performance indicator scorecards will typically use common measures,such as customer satisfaction,process quality,cost,and employee satisfaction and morale,.

Which of the following statements is true?

What are the four key perspectives in the Balanced Scorecard? In a strategy map,what are the cause-and effect linkages among these four perspectives?

If the link to strategy is not clearly established,key performance indicator cards will lead to local but not to global or strategic improvements.

What is the key ingredient to successful Balanced Scorecard implementation? Explain.

To effectively use the Balanced Scorecard,nonprofit and government organizations:

How does a Balanced Scorecard for nonprofit and government agencies differ from a for-profit scorecard?

The FIRST step in developing strategic objectives for the Balanced Scorecard is:

Outcomes,rather than activities,primarily drive the strategy of nonprofit and government organizations.

Dakota's value proposition is:

The Balanced Scorecard is said to be "balanced" because it measures:

Database and information systems are physical assets which create distinctive value for companies.

________ are generally written as action phrases and may also include the means and desired results.

Nonprofit and government organizations:

Many intangible assets:

How Management Accounting Information Supports Decision Making

Using Costs in Decision Making

Accumulating and Assigning Costs to Products

Activity-Based Cost Systems

Measuring and Managing Customer Relationships

Measuring and Managing Process Performance

Measuring and Managing Life-Cycle Costs

Behavioral and Organizational Issues in Management Accounting and Control Systems

Using Budgets for Planning and Coordination

Financial Control

Filters