Scribd
Upload
21 views3 pages

Strategic Vision and Performance Metrics

1. A company's strategic vision concerns a story of how it intends to profit with its chosen strategy, its future focus on customers, markets, products and technology, and what future actions it will take to gain a competitive advantage. 2. Total factor productivity measures the relationship between actual inputs used and actual outputs achieved. 3. Both statements are true - a balanced scorecard can include operating measures like delivery cycle time, and vision should include both internal and external factors.

Uploaded by

kyla christine
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
21 views3 pages

Strategic Vision and Performance Metrics

1. A company's strategic vision concerns a story of how it intends to profit with its chosen strategy, its future focus on customers, markets, products and technology, and what future actions it will take to gain a competitive advantage. 2. Total factor productivity measures the relationship between actual inputs used and actual outputs achieved. 3. Both statements are true - a balanced scorecard can include operating measures like delivery cycle time, and vision should include both internal and external factors.

Uploaded by

kyla christine
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

1.

(UNi) A company's strategic vision concerns:


management's story line of how it intends to make profit with the chosen strategy.
a company's directional path and future product-customer-market-technology focus.
"who we are and what we do."
why the company does certain things in trying to please its customers.
what future actions the enterprise will likely undertake to outmaneuver rivals and achieve
a sustainable competitive advantage.

2. (HG) Which of the following measures the relationship between actual inputs used and
actual outputs achieved?
Productivity
Total factor productivity
Product yield variance
Partial productivity

3. Statement 1: Operating measures such as delivery cycle time may be included in a


balanced scorecard.
Statement 2: Vision should be internal and non-market-oriented.
Both statements are true.
Statement 1 is false, while Statement 2 is true.
Statement 1 is true, while Statement 2 is false.
Both statements are false.

4. (HG) To effectively deal with unused capacity a company


may downsize.
may retain some unused capacity for future growth.
should consider it a waste of resources and eliminate all unused capacity.
should consider both (a) and (b).

5. (HTi) A balanced scorecard should link


learning and growth
business and production efficiencies
customer value and financial performance
all of the above
b and c.

6. Statement 1: Strategy describes how an organization matches its own capabilities with
the opportunities in the marketplace to accomplish its overall objectives.
Statement 2: A balanced scorecard contains both customer and internal business
process performance measures since improvements in customer satisfaction should
result in improvements in internal business processes.
Statement 1 is true, while Statement 2 is false.
Both statements are true.
Both statements are false.
Statement 1 is false, while Statement 2 is true.

7. Statement 1: The learning curve shows that the production time per unit is reduced by a
fixed percentage each time a new batch is completed.
Statement 2: Because of changing technology, global competition, and an increased
awareness of the need to focus on customer needs, non-financial and qualitative
performance measures have become an integral component of effective managerial
decision making.
Statement 1 is false, while Statement 2 is true.
Both statements are false.
Both statements are true.
Statement 1 is true, while Statement 2 is false.

8. (AK) An organization’s value proposition is:


the price charged for goods or services.
the unique mix of price, service, image, product attributes, and relationships that an
organization offers to customers.
a proposal submitted to shareholders about valuation of the company.
none of the above

9. Statement 1: The balanced scorecard approach recognizes that traditional measures of


performance are often not adequate to fully assess a company's performance. (true)
Statement 2: The understanding and use of learning curves are essential to a firm with a
low price competitive strategy. (True)
Both statements are true.
Statement 1 is true, while Statement 2 is false.
Both statements are false.
Statement 1 is false, while Statement 2 is true.

10. (BD) Super Jar, Inc. produces an item that gives rise to the following activities:
Processing (two departments): 25 hours
Inspecting: 2 hours
Rework: 1 hour
Moving (three moves): 6 hours
Waiting (for the second process): 18 hours
Storage (before delivery to the customer): 24 hours

The total manufacturing cycle time is


76 hours
52 hours
28 hours
34 hours
some other answer.
11. (HG) When analyzing the change in operating income, the productivity component will
increase when
more units are produced and sold.
quality is enhanced.
capacity is reduced.
selling prices are increased.

12. (UNi) Number of employees that indicate high ratings of satisfaction, divided by number
of surveyed employees are to calculate:
employee satisfaction
employee training
employee turnover
employee failures

Common questions

Powered by AI

Factors contributing to changes in operating income from a productivity perspective include increased production and sales volumes, enhanced quality, reduced capacity, and increased selling prices. Each of these factors directly impacts the profitability and efficiency of operations, thereby influencing operating income .

Non-financial and qualitative performance measures play a crucial role in managerial decision-making as they respond to changing technology, global competition, and an increased focus on customer needs. These measures have become integral components of effective decision-making by providing insights beyond traditional financial metrics .

A company's strategic vision outlines management's story line on how it plans to achieve profit with its chosen strategy, highlighting the company's directional path and future focus on product, customer, market, and technology. It also captures 'who we are and what we do,' as well as the reasons behind the company's actions to satisfy its customers and the anticipated actions to outmaneuver competitors and gain sustainable competitive advantage .

A company's value proposition, which comprises a unique mix of price, service, image, product attributes, and relationships, influences its market position by differentiating it from competitors and aligning offerings with customer preferences, thus driving competitive advantage and market success .

Productivity in a business context is measured by assessing the relationship between actual inputs used and actual outputs achieved, allowing firms to evaluate efficiency and identify areas for improvement to enhance overall productivity .

Understanding learning curves is essential for companies with a low-price competitive strategy because they illustrate efficiency improvements as production experience increases. This comprehension helps firms reduce production costs and maintain competitive pricing, which is critical in markets where price competition is intense .

A balanced scorecard integrates with business strategy by linking various performance measures: learning and growth, business and production efficiencies, customer value, and financial performance. This linkage ensures that improvements in customer satisfaction lead to enhancements in internal processes, thus aligning with the company's strategic objectives .

Strategy should align an organization's capabilities with market opportunities to accomplish its overall objectives by leveraging strengths to seize opportunities, thus ensuring that organizational resources are effectively utilized to cater to marketplace demands and achieve strategic goals .

The balanced scorecard broadens the scope of performance measurement by including non-financial indicators alongside traditional financial metrics. This approach recognizes that traditional measures may not fully capture a company's performance, thereby enhancing comprehensive assessment and strategic management .

Unused capacity can have several consequences for a company. It may be seen as a waste of resources, prompting downsizing to eliminate excess capacity. However, some companies may opt to retain unused capacity if there is an expectation of future growth, considering both elimination and retention as strategic choices .

You might also like