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Exam 2: Measuring Performance in Operations and Value Chains

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Question 1

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In the context of the triple bottom line (TBL) , which of the following is a performance measure of economic sustainability

A) Fines for environmental violations
B) Corporate ethics and governance
C) Revenue from new goods and services
D) Measures of perceived value

E) B) and C)
F) B) and D)

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Question 2

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Which of the following is a financial performance measure at an organizational level

A) Cost of quality
B) Revenue and profit
C) Budget variance
D) Labor and material costs

E) B) and C)
F) All of the above

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Question 3

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The quantitative modeling of cause-and-effect relationships between external and internal performance criteria is called__________.

_____ is the act of quantifying the performance of organizational units, goods and services, processes, people, and other business activities.

_____ measures the degree to which the output of a process meets customer requirements.

The innovation and learning perspective in the balanced scorecard model includes measures such as:

In an assembly line of a factory that makes gears, it takes fifteen minutes to complete a drilling operation using a lathe. The duration of this operation is called _____.

Which of the following is a quality performance measure at an operational level

Measures of__________focus on an organization's people and infrastructure.

Key measures of innovation and learning include__________.

__________is the willingness to help customers and provide prompt recovery to service upsets.

In the context of the value chain model, when "information replaces assets," the costs increase.

The ability of an organization to respond quickly to changes in the quantity and type of demand is called _____.

Which of the following performance perspectives in the balanced scorecard model measures the ultimate value that a business provides to its shareholders

Which of the following performance perspectives in the balanced scorecard model includes the percent of sale from new goods and services

Dextron, a privately owned computer technology company, provides a wide range of customized laptops to suit the needs of students, corporate professionals, and small business owners. In this case, Dextron's ability to provide a wide range of customized laptops to suit its customers' needs best describes _____.

_____ is the ratio of the output of a process to the input.

Quality measures the degree to which the output of a process conforms to the management's expectations and requirements.

The table below shows the data for the number of pair of shoes produced and the cost incurred by Fancy Trends Inc. for the year 2015. $\begin{array} { | l | l | l | } \hline \text { Pair of Shoes Produced } & & 150,000 \\\hline \text { Cost Incurred } & \text { Direct Labor Cost } & \$ 60,000 \\\hline & \text { Energy Cost } & \$ 5,800 \\\hline & \text { Raw Material Cost } & \$ 42,000 \\\hline\end{array}$ Based on the given data, the productivity of Fancy Trends Inc. for the year 2015 is _____.

In the context of the analytics in operations management, it costs three to five times more to keep an existing customer than acquire a new customer.