Question : 3) The first step to successful balanced scorecard implementation clarifying : 1211797

3) The first step to successful balanced scorecard implementation is clarifying the ________.

A) organization’s vision and strategy

B) elements that pertain to value-added aspects of the business

C) owner’s expectations about return on investment

D) objectives of all four balanced scorecard measurement perspectives

4) In an effective balanced scorecard, ________.

A) net income serves as the best indicator for the hard-to measure long-run nonfinancial performance

B) sales budget serves as one of the leading indicator for the hard-to measure short-run financial performance

C) sales budget serves as a leading indicator for the hard-to measure short-run nonfinancial performance

D) customer satisfaction serves as one of the leading indicator for the hard-to measure long-run financial performance

5) Which of the following statements is true of a balanced scorecard?

A) The balanced scorecard reduces managers’ emphasis on long-run financial performance.

B) The balanced scorecard reduces managers’ emphasis on short-run financial performance.

C) The primary goal of using the balanced scorecard is to sustain short-run financial performance.

D) The primary goal of using the balanced scorecard is to sustain short-run nonfinancial performance.

6) Which of the following statements is true of the internal-business-process perspective of a balanced scorecard?

A) Internal-business-process perspective is composed of three subprocesses: innovation process; learning-and-growth process; and postsales-service process.

B) Internal-business-process perspective evaluates the profitability of the strategy and the creation of shareholder value.

C) Internal-business-process improvement targets are often determined after benchmarking against an organization’s main competitors standards.

D) Internal-business-process perspective is composed of three subprocesses: operations process; learning-and-growth process; and postsales-service process.

7) Which of the following statements best relates to the balanced scorecard’s financial perspective?

A) How can we obtain greater profits for the current year?

B) How can we increase shareholder value?

C) How will we obtain continuous improvements?

D) How can we secure greater customer satisfaction?

8) Which of the following statements best relates to the balanced scorecard’s internal business processes perspective?

A) How do we lower costs?

B) How do we motivate employees?

C) How can we obtain greater profits?

D) How processes will increase value to customers?

9) Which of the following statements best relates to the balanced scorecard’s learning and growth perspective?

A) How will we empower our employees?

B) How do we lower costs?

C) What processes will increase value to customers?

D) How can we obtain greater profits?

10) ________ is a measure of the balanced scorecard’s financial perspective.

A) Service response time

B) Number of new patents

C) Operating income

D) Defect rates

11) ________ is a measure of the balanced scorecard’s internal process perspective.

A) Service response time

B) Customer satisfaction

C) Gross profit percentage

D) Cost reduction

12) ________ is a measure of the balanced scorecard’s customer perspective.

A) Number of client complaints

B) Defect rates

C) Number of process improvements

D) Revenue growth