Question 1

In functional benchmarking, a company focuses its benchmarking efforts on a single function to improve the operation of that function.

Accepted Answer

A) True 
 B)False

Question 2

Return on assets (ROA) and return on investments (ROI) are examples of ________.

Accepted Answer

A)  structural measures 
B)  market share data 
C)  productivity ratios 
D)  quality measures 
E)  financial ratios 
A)  structural measures 
B)  market share data 
C)  productivity ratios 
D)  quality measures 
E)  financial ratios

Question 3

Describe the concept of functional benchmarking.

Accepted Answer

In functional benchmarking, a company fo

Question 4

State the four key problems with benchmarking.

Accepted Answer

Benchmarking is not a simple activity, a

Question 5

Which of the following steps in Xerox's 10-step process to benchmarking helps companies prioritize which areas are the first candidates for change and improvement?

Accepted Answer

A)  determine the current performance gap 
B)  plan and conduct the investigation 
C)  identify whom to benchmark 
D)  decide what to benchmark 
E)  develop action plans 
A)  determine the current performance gap 
B)  plan and conduct the investigation 
C)  identify whom to benchmark 
D)  decide what to benchmark 
E)  develop action plans

Question 6

Dismantling competitors' products to understand the strengths and weaknesses of their designs is called reverse engineering.

Accepted Answer

A) True 
 B)False

Question 7

Use the following information to answer the question(s) below.
A company has gathered the following financial information for itself and a competing firm. The company wishes to compare productivity for the two firms:
  
-Calculate the plant and equipment productivity of Firm B.

Accepted Answer

A)  26.00 
B)  2.60 
C)  19.20 
D)  3.47 
E)  34.67 
A)  26.00 
B)  2.60 
C)  19.20 
D)  3.47 
E)  34.67

Question 8

Explain the use of performance measures or indicators in performance improvement.

Accepted Answer

A major consideration in performance imp

Question 9

What is the formula used to calculate scrap efficiency?

Accepted Answer

A)  scrap/cost of goods sold 
B)  (cost of goods sold - scrap)/scrap 
C)  cost of goods sold/scrap 
D)  (scrap - cost of goods sold/scrap 
E)  cost of goods sold × scrap 
A)  scrap/cost of goods sold 
B)  (cost of goods sold - scrap)/scrap 
C)  cost of goods sold/scrap 
D)  (scrap - cost of goods sold/scrap 
E)  cost of goods sold × scrap

Question 10

How is a scrap efficiency ratio calculated?

Accepted Answer

Consider the computation of scrap in whi

Question 11

The concept of ________ implies that you must have something to offer the target firm in return for sharing information.

Accepted Answer

A)  reciprocity 
B)  baselining 
C)  process redesign 
D)  interfacing 
E)  restructuring 
A)  reciprocity 
B)  baselining 
C)  process redesign 
D)  interfacing 
E)  restructuring

Question 12

Because process redesign affects multiple levels in a firm, abrupt organizational changes are reflected in baselining results.

Accepted Answer

A) True 
 B)False

Question 13

________ requires the monitoring of key internal firm performance measures over time to identify trends such as improvement to inform managerial decision making.

Accepted Answer

A)  Baselining 
B)  Benchmarking 
C)  Process redesign 
D)  Reverse engineering 
E)  Restructuring 
A)  Baselining 
B)  Benchmarking 
C)  Process redesign 
D)  Reverse engineering 
E)  Restructuring

Question 14

The goal of ________ benchmarking is to identify and to observe the best practices from one or more benchmark firms.

Accepted Answer

A)  product 
B)  strategic 
C)  process 
D)  financial 
E)  functional 
A)  product 
B)  strategic 
C)  process 
D)  financial 
E)  functional

Question 15

Explain the process of managing the benchmarking effort.

Accepted Answer

Like other quality management efforts, b

Question 16

The scrap efficiency formula normalizes the cost of scrap based on the volume of business that a firm does.

Accepted Answer

A) True 
 B)False

Question 17

________ include objectives, policies, and procedures followed by a firm.

Accepted Answer

A)  Productivity ratios 
B)  Quality measures 
C)  Market share data 
D)  Structural measures 
E)  Operating results 
A)  Productivity ratios 
B)  Quality measures 
C)  Market share data 
D)  Structural measures 
E)  Operating results

Question 18

Extending one company's benchmarking study findings to another without the first company's permission would be a violation of the principle of use.

Accepted Answer

A) True 
 B)False

Question 19

In performance benchmarking, the initiator firm focuses its observation and investigation on business processes.

Accepted Answer

A) True 
 B)False

Question 20

In the control process, the inputs are aligned together to form the product or service.

Accepted Answer

A) True 
 B)False

In functional benchmarking, a company focuses its benchmarking efforts on a single function to improve the operation of that function.

Return on assets (ROA) and return on investments (ROI) are examples of ________.

Describe the concept of functional benchmarking.

State the four key problems with benchmarking.

Which of the following steps in Xerox's 10-step process to benchmarking helps companies prioritize which areas are the first candidates for change and improvement?

Dismantling competitors' products to understand the strengths and weaknesses of their designs is called reverse engineering.

Use the following information to answer the question(s) below. A company has gathered the following financial information for itself and a competing firm. The company wishes to compare productivity for the two firms: -Calculate the plant and equipment productivity of Firm B.

Explain the use of performance measures or indicators in performance improvement.

What is the formula used to calculate scrap efficiency?

How is a scrap efficiency ratio calculated?

The concept of ________ implies that you must have something to offer the target firm in return for sharing information.

Because process redesign affects multiple levels in a firm, abrupt organizational changes are reflected in baselining results.

________ requires the monitoring of key internal firm performance measures over time to identify trends such as improvement to inform managerial decision making.

The goal of ________ benchmarking is to identify and to observe the best practices from one or more benchmark firms.

Explain the process of managing the benchmarking effort.

The scrap efficiency formula normalizes the cost of scrap based on the volume of business that a firm does.

________ include objectives, policies, and procedures followed by a firm.

Extending one company's benchmarking study findings to another without the first company's permission would be a violation of the principle of use.

In performance benchmarking, the initiator firm focuses its observation and investigation on business processes.

In the control process, the inputs are aligned together to form the product or service.

Differing Perspectives on Quality

Quality Theory

Global Supply Chain Quality and International Quality Standards

Strategic Quality Planning

The Voice of the Customer

Quality and Innovation in Product and Process Design

Designing Quality Services

Managing Supplier Quality in the Supply Chain

The Tools of Quality

Statistically Based Quality Improvement for Variables

Statistically Based Quality Improvement for Attributes

Six Sigma Management and Lean Tools

Managing Quality Improvement Teams and Projects

Implementing and Validating the Quality System

Filters

Exam 6: The Voice of the Market

In functional benchmarking, a company focuses its benchmarking efforts on a single function to improve the operation of that function.

Return on assets (ROA) and return on investments (ROI) are examples of ________.

Describe the concept of functional benchmarking.

State the four key problems with benchmarking.

Which of the following steps in Xerox's 10-step process to benchmarking helps companies prioritize which areas are the first candidates for change and improvement?

Dismantling competitors' products to understand the strengths and weaknesses of their designs is called reverse engineering.

Use the following information to answer the question(s) below. A company has gathered the following financial information for itself and a competing firm. The company wishes to compare productivity for the two firms: -Calculate the plant and equipment productivity of Firm B.

Explain the use of performance measures or indicators in performance improvement.

What is the formula used to calculate scrap efficiency?

How is a scrap efficiency ratio calculated?

The concept of ________ implies that you must have something to offer the target firm in return for sharing information.

Because process redesign affects multiple levels in a firm, abrupt organizational changes are reflected in baselining results.

________ requires the monitoring of key internal firm performance measures over time to identify trends such as improvement to inform managerial decision making.

The goal of ________ benchmarking is to identify and to observe the best practices from one or more benchmark firms.

Explain the process of managing the benchmarking effort.

The scrap efficiency formula normalizes the cost of scrap based on the volume of business that a firm does.

________ include objectives, policies, and procedures followed by a firm.

Extending one company's benchmarking study findings to another without the first company's permission would be a violation of the principle of use.

In performance benchmarking, the initiator firm focuses its observation and investigation on business processes.

In the control process, the inputs are aligned together to form the product or service.

Differing Perspectives on Quality

Quality Theory

Global Supply Chain Quality and International Quality Standards

Strategic Quality Planning

The Voice of the Customer

Quality and Innovation in Product and Process Design

Designing Quality Services

Managing Supplier Quality in the Supply Chain

The Tools of Quality

Statistically Based Quality Improvement for Variables

Statistically Based Quality Improvement for Attributes

Six Sigma Management and Lean Tools

Managing Quality Improvement Teams and Projects

Implementing and Validating the Quality System

Filters