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Exam 2: Measuring Performance in Operations and Value Chains

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Question 1

Multiple Choice

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

A) The financial perspective
B) The innovation perspective
C) The learning perspective
D) The customer perspective

E) A) and B)
F) B) and D)

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D

Question 2

Multiple Choice

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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 _____.

A) delay time
B) queue time
C) processing time
D) standard time

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

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Question 3

Multiple Choice

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

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

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

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

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

Measures of__________focus on an organization's people and infrastructure.

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

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

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.

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

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

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 _____.

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 _____.

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

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

Key measures of innovation and learning include__________.

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

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