Exam 9: Business Performance Management

BSC translates an organization's vision and strategy into a set of interrelated financial and nonfinancial objectives.All of the following are nonfinancial objectives except:

The Palladium Group found that 75 percent of organizations tied their budgets to their strategic plans.

Which of the following is not a part of a cybernetic system?

Lean manufacturing focuses on the elimination of waste or non-value-added activities,whereas Six Sigma focuses on reducing the variation or improving the consistency of a process.

A comprehensive framework for monitoring performance should address two key issues: what to monitor and how to monitor.

In recent years,there has been a focus on combining the Six Sigma methodology with the ________.

An organization's strategic objectives and key metrics should serve as top-down drivers for the allocation of an organization's tangible and intangible assets.

An effective diagnostic control system encourages ________.

The term business performance management (BPM)refers to the business processes,methodologies,metrics,and technologies used by enterprises to measure,monitor,and manage business performance.

Saxon Group's benchmarking results indicate that best practice organizations:

Most companies use ________ to monitor organizational performance and correct deviations from present performance standards.

A ________ delineates the process of value creation through a series of cause-and-effect relationships among the key organizational objectives for all four BSC perspectives--financial,customer,process,and learning and growth.

Dashboards and ________ both provide visual displays of important information that is consolidated and arranged on a single screen so that information can be digested at a single glance and easily explored.

The primary challenge of dashboard design is to display all the required information to be displayed clearly and without distraction on a single screen in a manner that can be assimilated quickly.

An organization's strategic objectives and key metrics should serve as ________ drivers for the allocation of an organization's tangible and intangible assets.

KPIs stand for ________,which are strategically aligned metrics.

A ________ is a set of activities that transform a set of inputs that include suppliers,assets,resources,and information into a set of outputs for another person or process.

An effective performance measurement system should not change measurements even when the underlying processes and strategies change.

In a ________ plan,tactics are established to meet the objectives and targets established in the strategic plan.

To dramatically increase the success of Six Sigma,the Six Sigma results should "pay as you go" and be confirmed by objective parties.