DIF Difficulty Easy NAT BUSPROG Analytic STA DISC Operations Management TOP A

Dif difficulty easy nat busprog analytic sta disc

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DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Operations Management TOP: A-Head: Quality and Differentiation Strategies KEY: Bloom's: Knowledge 2. What is the significance of cycle time to quality? ANS:
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Success in competitive markets increasingly demands shorter cycles for new or improved product and service introduction. Also, faster and more flexible response to customers is a more critical requirement of business management. Significant reductions in cycle time cannot be achieved simply by focusing on individual subprocesses; cross-functional processes must be examined all across the organization. Cutting response time requires a significant commitment from all employees and leadership from top management. Such efforts must involve the entire organization and often require organizational redesign. DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: Operations Management TOP: A-Head: Quality and Differentiation Strategies KEY: Bloom's: Knowledge 3. Why do organizations need performance measures? ANS: Organizations need performance measures for three reasons: 1) to lead the entire organization in a particular direction; that is, to drive strategies and organizational change; 2) to manage the resources needed to travel in this direction by evaluating the effectiveness of action plans; and 3) to operate the processes that make the organization work and continuously improve. DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: Operations Management TOP: A-Head: Information and Knowledge for Competitive Advantage KEY: Bloom's: Knowledge 4. What is the significance of the balanced scorecard? ANS: Most businesses have traditionally relied on organizational performance data based almost solely on financial or factory productivity considerations. Unfortunately, many of these indicators are inaccurate and stress quantity over quality. Today, many organizations create a “balanced scorecard” of measures that provide a comprehensive view of business performance. The balanced scorecard consists of four perspectives: 1) Financial Perspective 2) Internal Perspective 3) Customer Perspective 4) Innovation and Learning Perspective A good balanced scorecard contains both leading and lagging measures and indicators. Lagging measures (outcomes) tell what has happened; leading measures (performance drivers) predict what will happen. DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: Operations Management TOP: A-Head: Information and Knowledge for Competitive Advantage KEY: Bloom's: Knowledge 5. List the performance measures under the Malcolm Baldrige Criteria.
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ANS: The Malcolm Baldrige Criteria for Performance Excellence Results category groups performance measures as mentioned below: 1) Product and process outcomes 2) Customer-focused outcomes 3) Workforce-focused outcomes 4) Leadership and governance outcomes 5) Financial and market outcomes DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Operations Management TOP: A-Head: Information and Knowledge for Competitive Advantage KEY: Bloom's: Knowledge 6.
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  • Fall '16
  • JACKSON
  • Management, Test, The Land, Malcolm Baldrige National Quality Award, W. Edwards Deming, PERFORMANCE EXCELLENCE

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