Creating linkages between vision, strategy, and performance when setting goals correct answers What is the most effective management practice you should follow?
Adapting to the situation or the environment correct answers What is the most effective approach to managing personal performance?
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MGMT 310 - Chapter 10 || with Complete Solutions.
Creating linkages between vision, strategy, and performance when setting goals correct answers
What is the most effective management practice you should follow?
Adapting to the situation or the environment correct answers What is the most effective approach
to managing personal performance?
Seeking active feedback correct answers What is the best approach to evaluating and improving
your performance?
It provides a firm with mechanisms and systems to monitor its transformation process correct
answers What is true of the control cycle?
The balanced scorecard correct answers What method uses four different perspectives—
financial, customer, business process, and learning and growth—to align the goals of an
organization with the day-to-day action of individual employees?
The business process perspective correct answers Which perspective used in the balanced
scorecard focuses on measurements that will improve a company's ability to serve and deliver
value propositions to its customers?
Market share correct answers Which financial measure is most important to a firm in the growth
stage of a business life cycle?
Customer loyalty correct answers What customer metric does a company track by measuring the
percentage growth of business with existing customers?
Benchmarking correct answers Process of evaluating a firm's tangible and intangible assets and
setting goals to utilize them to the maximum possible extent
Open-book management correct answers A practice in which management shares all of the
financial data of a company with all of its employees
It solves problems in an existing framework but fails to challenge that framework and create a
new one in its place correct answers What factor undermines the effectiveness of Six Sigma?
It requires organizations to document every part of the process that contributes to the quality of
an end product correct answers What statement is true of ISO 9000?
Take corrective action correct answers The last step of the control cycle is to:
Country club context correct answers Too much emphasis on social support without a
counterbalancing focus on performance results in a:
, Activity-based costing (ABC) correct answers The accounting system used to assess the specific
cost components of producing a product or service
Balanced scorecard correct answers A method 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; it uses four perspectives (financial, customer,
business process, and learning and growth)
Behavior correct answers The actions and decisions of individual employees
Budgeting process correct answers The process for allocating financial resources and measuring
expected quantitative and qualitative outcomes of a firm
Business process perspective correct answers Focuses on measurements that will improve a
company's ability to serve and deliver value propositions to its customers
Cause-effect relationships correct answers A set of quantitative and qualitative measurements
that are related and mutually reinforcing
Control cycle correct answers The four-stage process that provides the mechanisms and systems
to monitor the transformation process, ensuring that outputs are produced to the desired quality,
quantity, and specifications of an organization and its customers
Customer perspective correct answers Linking key customer-based metrics such as market share
and retention to the financial performance of a firm
Drivers correct answers Measurements of the balanced scorecard that predict future success
Financial perspective correct answers Choosing the financial measurements that are most
important for reaching strategic goals
Growth stage correct answers The stage at the beginning of the business cycle that is marked by
high investment activity
Harvest stage correct answers The end of a business lifecycle, where a company attempts to
extract as much money as possible from business activity
If-then statements correct answers A simple and effective way of analyzing cause-effect
relationships
Learning and growth perspective correct answers Identifies the infrastructure and skills needed to
carry out business processes, interact with customers, and achieve long-term financial growth; it
also helps to identify gaps in capabilities or resources
Measurement correct answers The process of evaluating behaviors and outputs to see whether
standards have been met or objectives have been obtained
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