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Market share of target customers may increase at the same time there is an increase in non-target markets,showing that the company is not meeting strategic objectives.

A) True
B) False

Correct Answer

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The management of Z-Cosmetics,after identifying key measurements,decided to set performance targets for its business.In order to fulfill the purpose,it adopted a process which required the management to collect data from Color Cosmetics,a leading manufacturer in the industry.The managers of Z-Cosmetics believed that adopting the best practices across the industry would help them achieve their goals more effectively.Identify the process used by Z-Cosmetics to set performance targets.


A) Activity-based costing
B) Benchmarking
C) Total Quality Management
D) Budgeting

E) A) and B)
F) A) and D)

Correct Answer

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Internal business processes are important because they represent the day-to-day operations that deliver products and services to customers.

A) True
B) False

Correct Answer

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Which of the following is one of the most important internal business process measures?


A) On-base percentage
B) Activity-based costing
C) Six Sigma
D) Return on equity

E) All of the above
F) None of the above

Correct Answer

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ColorZone,a cosmetics manufacturing company,introduced a new range of cosmetics targeting the younger population.The company spent a lot on advertisements in an attempt to reach more customers and increase sales.However,the money invested on promotion overweighed the sales profit in the initial months.From this scenario it can be inferred that the company is in the _____ of business.


A) final phase
B) growth stage
C) strategic phase
D) harvest stage

E) A) and B)
F) All of the above

Correct Answer

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Which of the following statements about the balanced scorecard is true?


A) Balanced scorecard can be adapted to align with unique company goals.
B) It does not enable managers to make any qualitative measurements.
C) A company with many business units needs only a single balanced scorecard.
D) Company mission plays an instrumental role in the balanced scorecard.

E) All of the above
F) B) and D)

Correct Answer

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Which of the following statements is true about the various customer metrics?


A) The new customer metric is measured by the total number of positive feedbacks received from new and existing customers.
B) Some companies find it valuable to monitor the amount customers spend on their products relative to all other products.
C) Retaining existing customers to maintain or increase market share is not an easy task.
D) Customer satisfaction is one of the metrics that is the most objective and quantitative.

E) A) and B)
F) A) and C)

Correct Answer

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Which of the following is a main function of a control cycle?


A) It improves the skills of employees needed to carry out business processes.
B) It helps managers create a set of quantitative measurements that are unrelated.
C) It helps to make high level strategy more concrete and tangible.
D) It enables employees to identify gaps in capabilities or resources.

E) All of the above
F) C) and D)

Correct Answer

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The control cycle helps to make high level strategy more concrete by breaking it down into operational objectives.

A) True
B) False

Correct Answer

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The factor that differentiates outcomes from drivers in business is that:


A) outcomes can be efficiently measured without drivers.
B) outcomes are generic measurements commonly used.
C) outcomes are key areas to predict future success.
D) outcomes are more unique to company strategy.

E) B) and C)
F) A) and D)

Correct Answer

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Which of the following is the most valuable benefit of the balanced scorecard?


A) Its usefulness in creating the vision,mission,and objectives of a firm
B) Its creation of a strong culture which provides role clarity to employees
C) Its facilitation of communication about strategy throughout an organization
D) It flexibility toward employees allowing them to make their own decisions

E) All of the above
F) None of the above

Correct Answer

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Which of the following statements is true about the financial perspective of a balanced scorecard?


A) Economic value added refers to a measure of the value a company provides to its shareholders.
B) During the growth stage,profitability outweighs investment.
C) When an organization introduces a new product,business is in the sustain phase.
D) The harvest stage is the stage of business where the company is investing and extracting money.

E) A) and B)
F) A) and C)

Correct Answer

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The _____ was created to help businesses translate strategy into action by identifying the most critical measures to drive business success and linking long-term strategic goals with short-term operational actions.


A) ISO 9000 program
B) strategic review process
C) balanced scorecard
D) value chain analysis

E) B) and D)
F) C) and D)

Correct Answer

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Measuring drivers without outcomes leads to confusion and wasted resources.

A) True
B) False

Correct Answer

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In business,only two things can be observed,measured,and monitored:


A) suppliers and customers.
B) behavior and outputs.
C) resources and growth.
D) employee satisfaction and loyalty.

E) B) and C)
F) A) and D)

Correct Answer

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Which of the following is the ultimate goal of Total Quality Management?


A) Producing sustainable revenue
B) Setting strategic priorities
C) Satisfying customer needs
D) Improving employee performance

E) A) and D)
F) None of the above

Correct Answer

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The factor that differentiates behavior and output is that:


A) outputs include the decisions of individual employees.
B) behavior is controlled at the local level.
C) outputs are more flexible and diverse.
D) behavior can be specified for an entire organization.

E) B) and C)
F) None of the above

Correct Answer

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List four benefits of interactive control systems.

Correct Answer

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The benefits of interactive control syst...

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The control cycle includes a mechanism to improve a business's response to the external environment,known as strategic control.

A) True
B) False

Correct Answer

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Interactive control systems promote continuous communication between managers and subordinates throughout the entire organization.

A) True
B) False

Correct Answer

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