Which is not one of the common principles when implementing a balanced scorecard? Group of answer choices Align the organization to strategy. Make strategy a continual process. Place all the focus on bottom-line profit. Make strategy everyone's everyday job. Q: Customer satisfaction: Group of answer choices Is a function of how much the customer perceives they get from an exchange in relation to what they expected to get. Always guarantees profitability. Can be assumed if the company has a good record of quality. All of t

Which is not one of the common principles when implementing a balanced scorecard? Group of answer choices Align the organization to strategy. Make strategy a continual process. Place all the focus on bottom-line profit. Make strategy everyone's everyday job. Q: Customer satisfaction: Group of answer choices Is a function of how much the customer perceives they get from an exchange in relation to what they expected to get. Always guarantees profitability. Can be assumed if the company has a good record of quality. All of t

Management, Loose-Leaf Version

13th Edition

ISBN:9781305969308

Author:Richard L. Daft

Publisher:Richard L. Daft

Chapter7: Planning And Goal Setting

Section: Chapter Questions

Problem 1ED: When the idea first occurred to her, it seemed like such a win-win situation. Now she wasn't so...

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When the idea first occurred to her, it seemed like such a win-win situation. Now she wasn't so sure. Marge Brygay was a hardworking sales rep for Inspire Learning Corporation, a company intent on becoming the top educational software provider in five years. That newly adopted strategic goal translated into an ambitious, million-dollar sales target for each of Inspire's sales reps. At the beginning of the fiscal year, her share of the sales department's operational goal seemed entirely reasonable to Marge. She believed in Inspire's products. The company had developed innovative, highly regarded math, language, science, and social studies programs for the K— 12 market. What set the software apart was a foundation in truly cutting-edge research. Marge had seen for herself how Inspire programs could engage whole classrooms Of normally unmotivated kids; the significant rise in scores on those increasingly important standardized tests bore Out her subjective impressions. Bur now, just days before the end of the year, Marge's sales were $1,000 short of her million-dollar goal. The sale that would have put her comfortably over the top fell through due to last-minute cuts in one large school system's budget. At first, she was nearly overwhelmed with frustration, but then it occurred to her that if she contributed $1,000 to Central High, the inner-city high school in her territory probably most in need of what she had for sale, they could purchase the software and put her over the top. Her scheme would certainly benefit Central High students. Achieving her sales goal would make Inspire happy, and it wouldn't do her any harm, either professionally or financially. Making the goal would earn her a $10,000 bonus check that would come in handy when the time came to write out that first tuition check for her oldest child, who had just been accepted to a well-known, private university. Initially, it seemed like the perfect solution all the way around. The more she thought about it, however, the more it didn't quite sit well with her conscience. Time was running out. She needed to decide what to do. 1. Donate the $1,000 to Central High, and consider the $10,000 bonus a good return on your investment.
What does it mean for the balanced scorecard to “reflect strategy”?a. One should be able to infer an organization’s strategy from the balanced scorecard.b. The management accountant develops the balanced scorecard prior to developing a strategy.c. The balanced scorecard is one of the key methods for implementing strategy.d. One cannot have an effective strategy without an effective balanced scorecard.
Which of the following is NOT true of a good balanced scorecard? a. It identifies all measures, whether significant or small, that help to implement strategy. b. It uses nonfinancial measures to serve as leading indicators of future financial performance. c. It helps to communicate corporate strategy to all members of the organization. d. It tells the story of a company's strategy by articulating a sequence of cause-and-effect relationships.
1. ________ typically deal with tactical issues, which tie strategy to day-to-day operations. A. Executives (vice presidents) B. Employees C. Managers (directors) D. Supervisors 2. ________ issues deal with day-to-day issues. A. Tactical B. Operational C. Strategic D. None of these 3. Customer loyalty: A. Is an employee's obligation to consistently support a company B. Gauges how happy your customers are with your good or service C. Is an important element of poor quality and customer service D. None of these
Explain in your own words the advantages of “Balanced scorecard” as a strategy performance management tool or a structured report that can be used by managers to keep track of the execution of strategies.
1. Using the Opportunity-Loss (aka minmax regret) strategy: What is the Maximum Regret if "One Examiner" is hired? 2. Using the Opportunity-Loss (aka minmax regret) strategy: What is the Maximum Regret if "Two Examiners" are hired? 3. Using the Opportunity-Loss (aka minmax regret) strategy: What is the Maximum Regret if "Three Examiners" are hired? 4. If she uses the Opportunity-Loss (aka minmax regret) strategy, how many new examiners will she decide to hire?
Identify the resources, capabilities and core competencies that would be needed for that business. Resources: Asset that an organization can use when formulating or implementing a strategy. - Tangible: people, money, equipment, location, supplies - Intangible: knowledge, patent, trademark, brand, reputation, training system Capabilities: An organizational and management skill necessary to orchestrate a diverse set of resources and deploy them strategically. This is an intangible. Core competencies: A unique strength within an organization that allows it to differentiate its products and services from those of its competitors, creating higher value or lower costs for its customers and itself. Identify the major costs of the following three ways to start a new business. Start-up Business purchase Franchise What do you think is best way to start up this business (creating a new business, buying an existing business or franchising a business)? Why?
43. Why does strategist do not choose all the feasible alternative actions informulating and implementing a strategy? a. Because a strategist just wanted to apply the strategy that they have been using.b. Because a strategist needs to respect the management culture inimplementing strategy.c. Because there can be an infinite possible actions and ways to implement strategyd. Because a strategist tends to back out with the strategy, he is not used indoing
Nametso Senwelo, founder of Sunflower Desserts, reviewed performance her business andobserved the following for the past financial years: High growth and low market share product offerings. She needs a lot of cash needs but is currently generating little cash She needs to increase the market shareGive Nametso advise on how to grow her company's market share and turn it into a "Star" usingthe BCG matrix.
Q1. What are the types of SWOT Analysis that the firm can perform? Explain what this analysis means, and the stages involved in detail? Q2. Write a case study "example" of a firm or company performing SWOT analysis and what are the processes could be performed in each stage of this analysis?
The aim behind a balanced scorecard is to provide a comprehensive framework for translating acompany’s strategic objectives into a coherent set of performance measures. It allows managers tolook at the business from four (4) different perspectives.RequiredState and briefly explain the four different perspectives of the balance score card
Which of the following is NOT a type of strategy developed from a SWOT analysis? A)Strengths/Opportunities B)Strengths/Threats C)Threats/Opportunities. D)Weaknesses/Opportunities E)Weaknesses/Threat