Exam 11: Performance Evaluation Revisited: a Balanced Approach

A performance measure is specific if it

Residual income is a measurement of

For managers to adequately monitor the organization's performance,they need to use

Which of the following does benchmarking not focus on?

Delivery cycle time is the difference between

Another way of evaluating a company's performance is to compare it to other companies.This is called benchmarking. Required: Explain benchmarking,including its definition,goal,and the items that benchmarking focuses on.

The goal of benchmarking is to

Which of the following is not a measure that relates to the financial perspective?

Traditionally,organizations have evaluated their performance using only financial measures.However,many other performance indicators should be considered.The balanced scorecard was developed to assist managers in measuring performance across several perspectives. Required a.Identify and discuss each of the perspectives used in the balanced scorecard. b.Provide three measures of performance used in each perspective. Unit 11-2,

Earnings per share is a financial measure that is

Which of the following is not a measure that relates to the learning and growth perspective?

Benchmarking participants should adhere to the Benchmarking Code of Conduct which provides general principles to follow during the benchmarking process.

A balanced scorecard should include five to seven measures in each of four perspectives: Learning and growth,internal business processes,customer,and financial. Required: List five measures that relate to the internal business processes perspective.

On January 4^th,Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order. Hours Required Receive and process order 0.25 Waiting for production to begin 1.25 Cutting 50.00 Sewing and lettering 300.00 Moving materials from one station to another 20.00 Waiting for an operation to begin 95.00 Packaging 35.00 Loading to be shipped 0.50 In transit to customer 5.00 Calculate the manufacturing cycle efficiency.

The best measures relate to corporate strategy and SMART.Which of the following is not a component of SMART?

For processes that are not identical,companies cannot benefit from benchmarking outside their industry.

The first step in developing a balanced scorecard is to clarify the strategic focus.As part of the process,many organizations develop a strategy map.You have been assigned to a team that has the responsibility to develop a strategy for your organization.Your team members have determined that the company has established several strategic focuses.One team member has started a strategy map,but has not filled in the strategies. $\bullet$ Achieve operational excellence $\bullet$ Develop trained workforce $\bullet$ Infuse corporate culture of quality throughout workforce $\bullet$ Develop reputation for quick turnaround $\bullet$ Retain and grow customer base $\bullet$ Manage customer relationships $\bullet$ Increase profit Required: Complete the strategy map using the four balanced scorecard perspectives.

Which of the following is not a measure that relates to the learning and growth perspective?

From a customer's perspective,the time lapse between receipt of an order and the point when the product is pulled from inventory for a retailer is referred to as

A performance measure is measurable if it