Question 1

Which of the following statements describes internal business process measures as a part of the balanced scorecard?
A)They relate to client attraction, satisfaction, and retention.
B)They focus on innovation and proceeds with an understanding that strategies change over time.
C)They relate to organizational efficiency.
D)They focus on corporate social responsibility.
E)They relate to organizational effectiveness and profits.

Accepted Answer

Internal business process measures are focused on optimizing the efficiency of the organization's internal operations, such as production, supply chain management, and resource allocation. They do not directly relate to client attraction, satisfaction, or retention, innovation, corporate social responsibility, or profits, although they can impact these areas indirectly.

Question 2

_____ refers to an approach to assessing performance that targets managers' attention on four areas: financial, customer, internal business process, and learning and growth.
A)SWOT analysis
B)PESTLE analysis
C)The balanced scorecard
D)The triple bottom line
E)EFQM Model

Accepted Answer

The balanced scorecard is an approach to assessing performance that targets managers' attention on four areas: financial, customer, internal business process, and learning and growth. SWOT analysis is a framework for analyzing a company's strengths, weaknesses, opportunities, and threats. PESTLE analysis is a framework for analyzing a company's political, economic, sociocultural, technological, legal, and environmental factors. The triple bottom line focuses on a company's economic, social, and environmental performance. The EFQM Model is a management framework based on the principles of excellence.

Question 3

Which of the following statements describes the "time-bound" aspect of a goal?
A)The goal that is achieved is quantifiable.
B)The achievement of the goal is feasible.
C)The goal is achieved through the creation of deadlines.
D)The goal is explicit rather than vague.
E)The goal presents a significant challenge to the organization.

Accepted Answer

The "time-bound" aspect of a goal means that there is a specific deadline or timeframe for when the goal should be achieved. Option C describes this aspect, whereas the other options do not specifically address time constraints.

Question 4

Which of the following statements describes financial measures as a part of the balanced scorecard?
A)They relates to client attraction, satisfaction, and retention.
B)They focus on innovation and proceeds with an understanding that strategies change over time.
C)They relate to organizational efficiency.
D)They focus on corporate social responsibility.
E)They relate to organizational effectiveness and profits.

Accepted Answer

Financial measures are a crucial part of the balanced scorecard as they relate to the organization's financial performance and profitability. The balanced scorecard includes several other measures such as customer satisfaction, organizational efficiency, innovation, and corporate social responsibility, but financial measures are specifically linked to profits and effectiveness of the organization.

Question 5

The management of a football club regularly encourages and funds its coaches and trainers to take courses on sports' science.They believes that the application of scientific principles and techniques helps its players to improve their performance on the field.This is an example of a(n) _____ measure used to assess organizational performance.
A)internal business process
B)public responsibility
C)financial
D)customer
E)learning and growth

Accepted Answer

The regular encouragement and funding of coaches and trainers to take courses in sports science demonstrates a commitment to learning and growth, which is an example of a learning and growth measure used to assess organizational performance.

Question 6

_____ refers to how well a company is doing reaching its vision, mission, and goals.
A)Developmental counseling
B)Disparate impact
C)Strategic management
D)Trend analysis
E)Organizational performance

Accepted Answer

Organizational performance measures how well a company is accomplishing its goals and objectives. This can be assessed through various methods such as financial performance, customer satisfaction, employee engagement, and efficiency and effectiveness of operations. Strategic management, developmental counseling, disparate impact, and trend analysis are all related concepts but do not directly measure organizational performance.

Question 7

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road.It wants to do so by year 2020.The company has the required technology and the required finances to come up with such a car.Therefore the plan seems to be feasible.The fact that the plan is viable and practicable reflects the _____ dimension of a goal.
A)realistic
B)aggressive
C)measurable
D)time-bound
E)specific

Accepted Answer

The fact that the automobile manufacturing company has the required technology and finances to come up with such a car and wants to achieve the goal by year 2020 shows that the goal is realistic. Realism is an important aspect of goal setting as setting unrealistic goals can lead to disappointment and failure.

Question 8

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road.It wants to do so by year 2020.The fact that the company has a set target date to complete the task reflects the _____ dimension of a goal.
A)realistic
B)aggressive
C)measurable
D)time-bound
E)specific

Accepted Answer

The fact that the company has a set target date (year 2020) reflects the time-bound dimension of a goal.

Question 9

A performance _____ is a benchmark used to make sense of an organization's standing along a performance measure.
A)count
B)referent
C)line
D)measure
E)mark

Accepted Answer

The answer of A performance _____ is a benchmark used...

Question 10

A bakery generally makes a sale of $4,000 every month.But during Christmas time it made a sale of $6,000.That is, it registered a 50% increase in its sales during Christmas.During the same time other bakeries registered sales in excess of $10,000.The fact that other bakeries registered sales in excess of $10,000 can be used a yardstick to measure the performance of this particular bakery.This is referred to as the performance _____.
A)count
B)referent
C)line
D)measure
E)mark

Accepted Answer

The fact that other bakeries registered sales in excess of $10,000 serves as a referent to measure the performance of this particular bakery. This means that the performance of this bakery is being compared to other bakeries in the same industry who have achieved a benchmark of sales exceeding $10,000. Therefore, the correct answer is B) referent.

Question 11

A bakery generally makes a sale of $4,000 every month.But during Christmas time it made a sale of $6,000.That is, it registered an increase in its sales.The sales factor is a performance _____ to judge organizational performance.
A)count
B)referent
C)line
D)measure
E)mark

Accepted Answer

Sales factor is a performance measure used to judge organizational performance. In this case, the sales factor is the increase in sales, which can be measured by comparing the normal monthly sales of $4,000 with the sales during Christmas of $6,000. Therefore, the best choice is D, measure.

Question 12

A law firm wants to increase its client strength.Therefore it has promised to offer free service to senior citizens.This has helped the organization gain new clients, as friends and relatives of the senior citizens having started using this law firm's services.Good legal counseling has helped it to retain its clients.This is an example of _____ measures used to assess organizational performance.
A)internal business process
B)public responsibility
C)financial
D)customer
E)learning and growth

Accepted Answer

The answer of A law firm wants to increase its...

Question 13

Performance _____ refers to a metric such as profits, stock price, and sales along which organizations can be gauged.
A)count
B)referent
C)line
D)measure
E)mark

Accepted Answer

The term "performance measure" is commonly used to refer to a specific metric that is used to assess an organization's performance. Examples of performance measures include profits, sales, and stock price, among others. Therefore, the best choice is D, measure.

Question 14

Which of the following statements describes customer measures as a part of the balanced scorecard?
A)They relate to client attraction, satisfaction, and retention.
B)They focus on innovation and proceeds with an understanding that strategies change over time.
C)They relate to organizational efficiency.
D)They focus on corporate social responsibility.
E)They relate to organizational effectiveness and profits.

Accepted Answer

Customer measures in the balanced scorecard focus on client attraction, satisfaction, and retention. These measures are used to evaluate the success of the organization in meeting the needs and expectations of its customers.

Question 15

The stock price of an oil and natural gas exploration concern is $100 per share.The value of the share is increasing by the day.This is an example of a(n) _____ measure used to assess organizational performance.
A)internal business process
B)public responsibility
C)financial
D)customer
E)learning and growth

Accepted Answer

The increasing value of the stock price is a financial measure of organizational performance, as it relates to the company's profitability and success in the market.

Question 16

A take-out restaurant specializing in pizzas completes the order for a single pizza in 15 minutes.The employees of the restaurant are trained to deliver orders within the specified period.This is an example of a(n) _____ measure used to assess organizational performance.
A)internal business process
B)public responsibility
C)financial
D)customer
E)learning and growth

Accepted Answer

The measure of completing an order for a single pizza in 15 minutes is an example of an internal business process measure, as it assesses the efficiency and effectiveness of the restaurant's operations in fulfilling customer orders.

Question 17

Which of the following statements describes the "aggressive" aspect of a goal?
A)The goal that is achieved is quantifiable.
B)The achievement of the goal is feasible.
C)The goal is achieved through the creation of deadlines.
D)The goal is explicit rather than vague.
E)The goal presents a significant challenge to the organization.

Accepted Answer

An aggressive goal presents a significant challenge to the organization, going beyond what is easily achievable. It requires stretching beyond current capabilities and pushing boundaries to achieve something beyond the ordinary. The other choices are important aspects of a well-defined goal but do not necessarily reflect the aggressive aspect of it.

Question 18

Which of the following statements describes the "realistic" aspect of a goal?
A)The goal that is achieved is quantifiable.
B)The achievement of the goal is feasible.
C)The goal is achieved through the creation of deadlines.
D)The goal is explicit rather than vague.
E)The goal presents a significant challenge to the organization.

Accepted Answer

The "realistic" aspect of a goal refers to whether or not it is feasible and achievable. While the other options may also be important aspects of a goal, only option B specifically addresses the realistic nature of a goal.

Question 19

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road.It wants to do so by year 2020.The task presents a challenge to the engineering skills of the organization.The fact that the task presents a challenge to the organization reflects the _____ dimension of a goal.
A)realistic
B)aggressive
C)measurable
D)time-bound
E)specific

Accepted Answer

The goal of launching a car that would require no human intervention by year 2020 is an aggressive goal because it involves significant innovation and technological advancement.

Question 20

Which of the following statements describes learning and growth measures as a part of the balanced scorecard?
A)They relate to client attraction, satisfaction, and retention.
B)They focus on innovation and proceeds with an understanding that strategies change over time.
C)They relate to organizational efficiency.
D)They focus on corporate social responsibility.
E)They relate to organizational effectiveness and profits.

Accepted Answer

Learning and growth measures focus on innovation and understanding the need for strategies to evolve over time. They are related to organizational development and building capabilities. Client satisfaction, organizational efficiency, corporate social responsibility, and profits are addressed through other perspectives of the balanced scorecard.

Quiz 2: Leading Strategically

Which of the following statements describes internal business process measures as a part of the balanced scorecard?

_____ refers to an approach to assessing performance that targets managers' attention on four areas: financial, customer, internal business process, and learning and growth.

Which of the following statements describes the "time-bound" aspect of a goal?

Which of the following statements describes financial measures as a part of the balanced scorecard?

_____ refers to how well a company is doing reaching its vision, mission, and goals.

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road.It wants to do so by year 2020.The fact that the company has a set target date to complete the task reflects the _____ dimension of a goal.

A performance _____ is a benchmark used to make sense of an organization's standing along a performance measure.

A bakery generally makes a sale of $4,000 every month.But during Christmas time it made a sale of $6,000.That is, it registered an increase in its sales.The sales factor is a performance _____ to judge organizational performance.

Performance _____ refers to a metric such as profits, stock price, and sales along which organizations can be gauged.

Which of the following statements describes customer measures as a part of the balanced scorecard?

The stock price of an oil and natural gas exploration concern is $100 per share.The value of the share is increasing by the day.This is an example of a(n) _____ measure used to assess organizational performance.

A take-out restaurant specializing in pizzas completes the order for a single pizza in 15 minutes.The employees of the restaurant are trained to deliver orders within the specified period.This is an example of a(n) _____ measure used to assess organizational performance.

Which of the following statements describes the "aggressive" aspect of a goal?

Which of the following statements describes the "realistic" aspect of a goal?

Which of the following statements describes learning and growth measures as a part of the balanced scorecard?