Question 1

By supplying a mechanism for strategic feedback and review,the Balanced Scorecard helps organizations foster what kind of learning?

Accepted Answer

The answer of By supplying a mechanism for strategic feedback...

Question 2

One of the key litmus tests for the setting of goals,objectives,and measures is whether or not they are linked in some way to the key factors driving an organization's success or competitive advantage.

Accepted Answer

Setting goals, objectives, and measures that are aligned with the key factors driving an organization's success or competitive advantage is essential for ensuring that the organization is on track to achieve its overall strategic aims. Failing to link these elements to such factors could result in misaligned efforts or misplaced priorities that may ultimately hinder the organization's performance and growth.

Question 3

Eisenhardt suggests that organizations should have ___________ key goals or rules which guide how the firm operates,identify which opportunities to pursue,set priorities,manage timing of actions,and even inform business exit decisions.

Accepted Answer

The answer of Eisenhardt suggests that organizations should have ___________...

Question 4

Goals and objectives are difficult to set because:

Accepted Answer

The answer of Goals and objectives are difficult to set...

Question 5

The Balanced Scorecard is aimed to make key improvements on a simple ________ system,particularly by more clearly tying goals and objectives to vision,mission,and strategy,and branching out beyond purely financial goals and objectives.

Accepted Answer

The answer of The Balanced Scorecard is aimed to make...

Question 6

What do individual managers need to know and understand in order for MBO to be effective?

Accepted Answer

The answer of What do individual managers need to know...

Question 7

By relying on _________________,the scorecard forces managers to come to agreement on the metrics they will use to translate their lofty visions into realities.

Accepted Answer

The answer of By relying on _________________,the scorecard forces managers...

Question 8

Both MBO and the Balanced Scorecard fit in the larger collection of tools called ___________________.

Accepted Answer

The answer of Both MBO and the Balanced Scorecard fit...

Question 9

Characteristics of the approach to setting and managing goals and objectives include which of the following?:

Accepted Answer

Measures should be based around the needs of customers, shareholders, and other key stakeholders. This ensures that the goals and objectives set are aligned with the organization's overall strategic direction and that all important stakeholders are considered in the process. Options A and C are incorrect as they are not applicable or effective approaches to goal setting and management. Option B is partially correct, but it should not only be linked to the capabilities of each employee as this may limit the organization's overall potential.

Question 10

Characteristics of appropriate goals and objectives include which of the following?:

Accepted Answer

The answer of Characteristics of appropriate goals and objectives include...

Question 11

________________ is a framework designed to translate an organization's mission and vision statements and overall business strategy into specific,quantifiable goals,and objectives.

Accepted Answer

The answer of ________________ is a framework designed to translate...

Question 12

How does the manager assist employees in developing their objectives?

Accepted Answer

The answer of How does the manager assist employees in...

Question 13

Individual employees understand how their own productivity supports the overall strategy using ______________.

Accepted Answer

The answer of Individual employees understand how their own productivity...

Question 14

What are the steps to performance management?

Accepted Answer

The answer of What are the steps to performance management?...

Question 15

__________________ is when a problem arises either in the way that success is being measured or in the nature of the objectives,and is identified in advance of any review.

Accepted Answer

The answer of __________________ is when a problem arises either...

Question 16

While goals may sometimes be general,the objectives and the metrics that gauge them should be specific.

Accepted Answer

Goals may sometimes be general, but objectives and their corresponding metrics need to be specific to ensure clear measurement and evaluation of progress towards achieving the goal.

Question 17

The main challenge with fact-based objectives is that many firms find future opportunities in markets where there is an existing set of customers.

Accepted Answer

The main challenge with fact-based objectives is that many firms find future opportunities in markets where there is not an existing set of customers.

Question 18

What are performance management systems? Such systems outline the process through which companies ensure that employees are working towards organizational goals,and they include tools such as MBO and Balance Scorecard.Medium;Comprehension

Accepted Answer

The answer of What are performance management systems? Such systems...

Question 19

The discipline of creating a Balanced Scorecard forces companies to integrate what two functions?

Accepted Answer

The answer of The discipline of creating a Balanced Scorecard...

Question 20

Metric guru Graham Brown suggests that managers should not try to follow any more than _______ measures of performance,in terms of performance on objectives.

Accepted Answer

The answer of Metric guru Graham Brown suggests that managers...

Quiz 6: Goals and Objectives