Strategy & Balanced Scorecard
This is the first step an organization takes in aligning operations with long-term goals.
What is identifying its strategy?
A strategy map is a visual representation of this.
What is the cause-and-effect link between strategic objectives?
Customer satisfaction scores are an example of KPIs for which dimension?
What is the customer dimension?
Prescriptive analytics focuses on recommending these.
What are actions or decisions?
A make-or-buy decision involves comparing these two types of costs.
What are relevant costs of making vs. buying?
The balanced scorecard includes these four perspectives.
What are financial, customer, internal business processes, and learning & growth?
Strategy maps are often structured to show this dimension at the top.
What is the financial dimension?
Return on Investment is a KPI for this dimension.
What is the financial dimension?
Goal-seek analysis is typically used to find the input that achieves this.
What is a target output?
Fixed costs that won’t change under either alternative are considered this.
What are irrelevant costs?
The balanced scorecard differs from traditional financial measures because it includes these types of indicators.
What are nonfinancial performance indicators?
True or False: Strategy maps are only used by for-profit companies.
What is False?
On-time delivery is typically linked to this dimension.
What is the internal business processes dimension?
Scenario analysis examines multiple ________.
What are possible future conditions?
Optimization techniques help managers allocate these efficiently.
What are scarce resources?
This dimension focuses on the capabilities that drive improvement and innovation.
What is the learning and growth dimension?
A statement that describes the company's future and what the organization strives to become.
What is a vision statement?
Number of employee training hours is an example of this dimension's KPI.
What is the learning & growth dimension?
Sensitivity analysis tests how results change when this changes.
What is one key assumption?
In product-mix decisions, managers typically maximize this.
What is contribution margin per unit of the constraint?
Strategy helps organizations allocate these efficiently to achieve objectives.
What are resources?
Strategy maps help organizations connect initiatives to these measurable outcomes.
What are key performance indicators (KPIs)?
KPIs are important because they provide this type of feedback.
What is S.M.A.R.T. performance measurement feedback?
This type of analysis helps managers choose between alternatives such as making or buying a component.
What is differential analysis?
A linear programming model is often used to solve this type of decision problem.
What is product-mix or pricing optimization?