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Exam 28: The Balanced Scorecard and Corporate Social Responsibility

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Question 81

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Match the following descriptions and examples with the elements of the balanced scorecard (a-d). -Levels or rates of improvement that management wants to achieve for performance metrics A)Performance metrics B)Strategic objectives C)Performance targets D)Strategic initiatives

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Question 82

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AnaCarolina and Jaco, executive managers at Duke Manufacturing, are tasked with determining appropriate performance metrics for the customer perspective of Duke's balanced scorecard. Which of the following is the best metric for this situation?

A) return on investment
B) operating throughout
C) material price variance
D) number of returns due to incorrect products shipped in response to orders

E) A) and C)
F) B) and C)

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Question 83

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Cody Paper Mill produces various grades of paper sheeting for industrial uses. All of the following may be considered an initiative undertaken as a part of the company's CSR efforts except

Performance measurement systems use externally imposed benchmarks of the competitive landscape to assess internal performance.

Corporate social responsibility efforts may be linked to the four perspectives of the balanced scorecard in a sustainability balanced scorecard.

Evaluating employee performance and making strategic decisions are two examples of how managerial accounting information is used.

Which of the following best describes a strategic performance measurement system?

Mason works at LoftCo, Inc., in an operations department focused on the internal processes perspective of the balanced scorecard performance management system. It is critical that the work in this performance area is linked to at least one strategic objective within the company.

Material price variances are examples of metrics used for measuring a purchasing department's performance.

Alexander and Kristin are reviewing the statistical analysis for the performance metrics at their company, SafeChild Toys. Unfortunately, there is a lack of evidence that automating the warehouse has led to better inventory controls thereby providing better customer service. Alexander and Kristin should

Cody is a manager at Valvco and is creating a measure map. Cody is correct in assessing that if median training hours per employee predict the improvement of delivery times to the customer, then delivery times is the lagging indicator and median training hours per employee is the leading indicator.

Sometimes a strategy map is referred to as a measure map.

Harrison Company uses a balanced scorecard approach to performance measurement, and company executives would like to integrate CSR activities into the company's core strategy. Which of the following statements regarding the appropriate way to make this integration work for Harrison is false?

Waterfield Company is looking for a way to help its executive managers assess how the three divisions within the company are meeting the company's overall goals and objectives. The company is looking for a(n)

Mila is helping to set performance targets for her company, Urban Supply. The target of increasing the company's online customer satisfaction rate by 1% in the next quarter is an example of a performance target focused on the customer perspective of the balance scorecard.

What are eco-efficiency measures?

Performance in the financial perspective of the balanced scorecard focuses on satisfying customers.

Metrics that are early in the value chain are normally considered to be _____ indicators.

Match the following descriptions with the correct term (a-c). -Provides evidence of performance after activity has been completed A)Leading indicator B)Lagging indicator C)BSC performance perspectives

Match the following descriptions and examples with the elements of the balanced scorecard (a-d). -Action plans that management implements to achieve the strategic objectives A)Performance metrics B)Strategic objectives C)Performance targets D)Strategic initiatives