Exam 18: Performance Measurement to Support Business Strategy

One of the important guidelines of benchmarking is to not benchmark everything at the best-in-the-business level;no organization can be the best at everything.This is a true concept.

Partial productivity:

Toimi Toolworks Co.has provided the following information for last year: The total factor productivity measure is:

Brimson Forging Co.has provided the following information for last year: The total factor productivity measure is:

Employees empowered with real decision-making authority are more likely to be more responsive to customer concerns.They have the ability to satisfy customer demands.

The Lutsen Machining Co.has the following information for last year: The partial productivity for metal is:

Palo Products has provided the following information for last year: The total factor productivity measure is:

Which of the following nonfinancial measures would not be used to evaluate a middle manager's performance?

The Nelson Company collected the following information (in days): What is the manufacturing cycle time?

One advantage of nonfinancial measures is that managers directly involved in operations are likely to understand them.The managers understand the components of the measures.

In the balanced scorecard,the internal business process perspective addresses which of the following questions?

Which of the following is not one of the four areas of strategic action on a balanced scorecard?

The Berdle Mining Co.has the following information for last year: The partial productivity for labor is:

Which of the following is not a mistake often made when measuring nonfinancial performance?

Improving the efficiency of the manufacturing cycle involves decreasing the time spent processing a good.Efficiency is improved by reducing the time spent moving,storing,and inspecting the product.

The QRT Company collected the following information (in days): What is the manufacturing cycle efficiency?

In the balanced scorecard,the learning and growth perspective addresses which of the following questions?

Which of the following statements is(are)true regarding performance measures? (A)In general,objective performance measures are better than subjective performance measures.(B)In general,the use of multiple performance measures is better than the use of single performance measures.

A balanced scorecard uses only nonfinancial measures to determine how well the organization is doing in view of competing stakeholder concerns.Financial and nonfinancial measures are used.

A subjective performance measure is one where: