Question 1

Financial benchmarking involves direct interaction between the initiator firm and the target firms.

Accepted Answer

A) True 
 B)False

Question 2

________ are useful in measuring the extent to which a firm effectively uses the scarce resources that are available to the firm.

Accepted Answer

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

Question 3

Which of the following best defines the depth factor of process redesign?

Accepted Answer

A)  It refers to organizational elements such as responsibilities, measurements, information technology, and skills. 
B)  It refers to the monitoring of key internal firm performance measures over time to identify trends such as improvement in managerial decision making. 
C)  It refers to the impact of the process redesign to the entire organization. 
D)  It refers to the dismantling of competitors' products to understand the strengths and weaknesses of their designs. 
E)  It refers to the sharing of information between companies so that both can improve. 
A)  It refers to organizational elements such as responsibilities, measurements, information technology, and skills. 
B)  It refers to the monitoring of key internal firm performance measures over time to identify trends such as improvement in managerial decision making. 
C)  It refers to the impact of the process redesign to the entire organization. 
D)  It refers to the dismantling of competitors' products to understand the strengths and weaknesses of their designs. 
E)  It refers to the sharing of information between companies so that both can improve.

Question 4

Which of the following types of benchmarking does not require direct interaction between the initiator firm and the target firm?

Accepted Answer

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

Question 5

Ajax Carpet Cleaning promises to clean 100 square feet of carpet for $20.00. Their work standard for such a job is $5.00 for labor and $2.50 for cleaning supplies. Since they use the customer's electricity, there are no other inputs in to the cleaning process. What is their labor productivity?

Accepted Answer

A)  20.0 
B)  4.00 
C)  8.00 
D)  2.50 
E)  40.0 
A)  20.0 
B)  4.00 
C)  8.00 
D)  2.50 
E)  40.0

Question 6

________ are important for monitoring and tracking the effectiveness of a company's cycle times, waste-reduction measures, and value-added measures.

Accepted Answer

A)  Customer-related measures 
B)  Productivity ratios 
C)  Quality measures 
D)  Operating results 
E)  Structural measures 
A)  Customer-related measures 
B)  Productivity ratios 
C)  Quality measures 
D)  Operating results 
E)  Structural measures

Question 7

If the cost of goods sold reported by Champion Cooling Co. is equal to $600,000 and the scrap cost amounts to $50,000, what is their scrap efficiency?

Accepted Answer

A)  8.33 
B)  30.0 
C)  12.0 
D)  18.5 
E)  22.8 
A)  8.33 
B)  30.0 
C)  12.0 
D)  18.5 
E)  22.8

Question 8

What is the first step in Xerox's 10-step process to benchmarking?

Accepted Answer

A)  determine the current performance gap 
B)  identify whom to benchmark 
C)  decide what to benchmark 
D)  develop action plans 
E)  project future performance levels 
A)  determine the current performance gap 
B)  identify whom to benchmark 
C)  decide what to benchmark 
D)  develop action plans 
E)  project future performance levels

Question 9

Toyota developed the world-class production system known as ________.

Accepted Answer

A)  business process reengineering 
B)  just-in-time 
C)  total quality management 
D)  benchmarking 
E)  statistical process control 
A)  business process reengineering 
B)  just-in-time 
C)  total quality management 
D)  benchmarking 
E)  statistical process control

Question 10

Strategic benchmarking involves observing how others compete.

Accepted Answer

A) True 
 B)False

Question 11

Describe the concept of performance benchmarking.

Accepted Answer

Performance benchmarking allows initiato

Question 12

Which of the following is not one of the potential legal issues described in the benchmarking principle of legality?

Accepted Answer

A)  price fixing 
B)  dealing arrangements 
C)  bid rigging 
D)  bribery 
E)  unethical behavior 
A)  price fixing 
B)  dealing arrangements 
C)  bid rigging 
D)  bribery 
E)  unethical behavior

Question 13

The first step in Xerox's 10-step process to benchmarking is identifying whom to benchmark.

Accepted Answer

A) True 
 B)False

Question 14

A benchmarking effort that is limited to studying the purchasing department of another firm is referred to as ________ benchmarking.

Accepted Answer

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

Question 15

The scrap efficiency can be calculated by dividing the cost of scrap by the cost of goods sold.

Accepted Answer

A) True 
 B)False

Question 16

In a benchmarking relationship, the initiator firm is the firm that is being studied.

Accepted Answer

A) True 
 B)False

Question 17

The ________ process of business process benchmarking results in outputs that are eventually sold to customers.

Accepted Answer

A)  transformation 
B)  conversion 
C)  control 
D)  reconstruction 
E)  reengineering 
A)  transformation 
B)  conversion 
C)  control 
D)  reconstruction 
E)  reengineering

Question 18

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 total factor productivity for Firm A.

Accepted Answer

A)  19.20 
B)  3.31 
C)  1.22 
D)  14.77 
E)  8.68 
A)  19.20 
B)  3.31 
C)  1.22 
D)  14.77 
E)  8.68

Question 19

To contribute to efficient, effective, and ethical benchmarking, individuals abide by benchmarking principles.

Accepted Answer

A) True 
 B)False

Question 20

The ________ process involves identifying measures, establishing time frames for future data collection, gathering data, and analyzing data on an ongoing basis to identify performance trends and changes.

Accepted Answer

A)  restructuring 
B)  baselining 
C)  reengineering 
D)  reverse engineering 
E)  benchmarking 
A)  restructuring 
B)  baselining 
C)  reengineering 
D)  reverse engineering 
E)  benchmarking

Financial benchmarking involves direct interaction between the initiator firm and the target firms.

________ are useful in measuring the extent to which a firm effectively uses the scarce resources that are available to the firm.

Which of the following best defines the depth factor of process redesign?

Which of the following types of benchmarking does not require direct interaction between the initiator firm and the target firm?

Ajax Carpet Cleaning promises to clean 100 square feet of carpet for $20.00. Their work standard for such a job is $5.00 for labor and $2.50 for cleaning supplies. Since they use the customer's electricity, there are no other inputs in to the cleaning process. What is their labor productivity?

________ are important for monitoring and tracking the effectiveness of a company's cycle times, waste-reduction measures, and value-added measures.

If the cost of goods sold reported by Champion Cooling Co. is equal to $600,000 and the scrap cost amounts to $50,000, what is their scrap efficiency?

What is the first step in Xerox's 10-step process to benchmarking?

Toyota developed the world-class production system known as ________.

Strategic benchmarking involves observing how others compete.

Describe the concept of performance benchmarking.

Which of the following is not one of the potential legal issues described in the benchmarking principle of legality?

The first step in Xerox's 10-step process to benchmarking is identifying whom to benchmark.

A benchmarking effort that is limited to studying the purchasing department of another firm is referred to as ________ benchmarking.

The scrap efficiency can be calculated by dividing the cost of scrap by the cost of goods sold.

In a benchmarking relationship, the initiator firm is the firm that is being studied.

The ________ process of business process benchmarking results in outputs that are eventually sold to customers.

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 total factor productivity for Firm A.

To contribute to efficient, effective, and ethical benchmarking, individuals abide by benchmarking principles.

The ________ process involves identifying measures, establishing time frames for future data collection, gathering data, and analyzing data on an ongoing basis to identify performance trends and changes.

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

Financial benchmarking involves direct interaction between the initiator firm and the target firms.

________ are useful in measuring the extent to which a firm effectively uses the scarce resources that are available to the firm.

Which of the following best defines the depth factor of process redesign?

Which of the following types of benchmarking does not require direct interaction between the initiator firm and the target firm?

Ajax Carpet Cleaning promises to clean 100 square feet of carpet for $20.00. Their work standard for such a job is $5.00 for labor and $2.50 for cleaning supplies. Since they use the customer's electricity, there are no other inputs in to the cleaning process. What is their labor productivity?

________ are important for monitoring and tracking the effectiveness of a company's cycle times, waste-reduction measures, and value-added measures.

If the cost of goods sold reported by Champion Cooling Co. is equal to $600,000 and the scrap cost amounts to $50,000, what is their scrap efficiency?

What is the first step in Xerox's 10-step process to benchmarking?

Toyota developed the world-class production system known as ________.

Strategic benchmarking involves observing how others compete.

Describe the concept of performance benchmarking.

Which of the following is not one of the potential legal issues described in the benchmarking principle of legality?

The first step in Xerox's 10-step process to benchmarking is identifying whom to benchmark.

A benchmarking effort that is limited to studying the purchasing department of another firm is referred to as ________ benchmarking.

The scrap efficiency can be calculated by dividing the cost of scrap by the cost of goods sold.

In a benchmarking relationship, the initiator firm is the firm that is being studied.

The ________ process of business process benchmarking results in outputs that are eventually sold to customers.

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 total factor productivity for Firm A.

To contribute to efficient, effective, and ethical benchmarking, individuals abide by benchmarking principles.

The ________ process involves identifying measures, establishing time frames for future data collection, gathering data, and analyzing data on an ongoing basis to identify performance trends and changes.

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