Question 1

Briefly explain the role of performance metrics as an element of the balanced scorecard.

Accepted Answer

Performance metrics are used t

Question 2

Which of the following suggested that management efforts not directly related to increasing profits are similar to "stealing" from a company's shareholders?

Accepted Answer

A) FASB 
B) Milton Friedman 
C) SEC 
D) Various accounting firms 
A) FASB 
B) Milton Friedman 
C) SEC 
D) Various accounting firms

Question 3

Cody is a manager at Valvco and is leading a team to create the measure map in the company's new BSC initiative. Cody is correct in sharing with his colleagues that a measure map provides a means for verifying the expectations of how strategic objectives affect one another.

Accepted Answer

A) True 
 B)False

Question 4

The balanced scorecard incorporates only qualitative performance metrics.

Accepted Answer

A) True 
 B)False

Question 5

Omega Energy Incorporated serves rural communities across the northeast with gas and home heating fuel. All of the following initiatives may be considered a part of the company's CSR efforts except

Accepted Answer

A) providing a lunchroom and a fitness center for employees and their families 
B) building a new corporate headquarters in order to downsize several regional offices and reduce overhead costs 
C) using biofuel-powered vehicles in its transportation fleet 
D) encouraging curbside recycling efforts and incentives in the rural communities served by the company 
A) providing a lunchroom and a fitness center for employees and their families 
B) building a new corporate headquarters in order to downsize several regional offices and reduce overhead costs 
C) using biofuel-powered vehicles in its transportation fleet 
D) encouraging curbside recycling efforts and incentives in the rural communities served by the company

Question 6

The balanced scorecard focuses on lagging indicators such as actual sales volume rather than including leading indicators such as customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 7

Performance measurement systems are used to assess how well a company is performing toward meeting its own goals and objectives.

Accepted Answer

A) True 
 B)False

Question 8

Strategic performance measurement systems define and link strategic objectives to the performance metrics of a company.

Accepted Answer

A) True 
 B)False

Question 9

Briefly explain the role of the strategic objective as an element of the balanced scorecard.

Accepted Answer

Strategic objectives are the e

Question 10

The form of CSR information that helps managers evaluate the savings generated by using fewer natural resources in a company's operations is known as

Accepted Answer

A) physical resource sufficiency metrics 
B) resource sufficiency measures 
C) eco-sufficiency measures 
D) eco-efficiency measures 
A) physical resource sufficiency metrics 
B) resource sufficiency measures 
C) eco-sufficiency measures 
D) eco-efficiency measures

Question 11

Match the following descriptions and examples with the elements of the balanced scorecard (a-d).
-Used to assess performance in achieving the strategic objectives
A)Performance metrics
B)Strategic objectives
C)Performance targets
D)Strategic initiatives

Accepted Answer

The answer of Match the following descriptions and examples with...

Question 12

The benefits of CSR investments

Accepted Answer

A) are always easy to measure quantitatively 
B) cannot be evaluated qualitatively 
C) must be evaluated qualitatively for the projects that cannot be evaluated quantitatively 
D) must be evaluated using all three aspects of the triple bottom line 
A) are always easy to measure quantitatively 
B) cannot be evaluated qualitatively 
C) must be evaluated qualitatively for the projects that cannot be evaluated quantitatively 
D) must be evaluated using all three aspects of the triple bottom line

Question 13

Which of the following statements regarding CSR reporting is true?

Accepted Answer

A) CSR reporting rarely provides feedback that is helpful in guiding a company's strategic and operational decision making. 
B) CSR reporting and feedback may help a company increase revenues and control costs but it rarely helps with efficient allocation of scarce resources. 
C) CSR and sustainability information provides important feedback to guide a company's strategic and operational goals regarding eco-efficiency measures. 
D) CSR and sustainability reporting are helpful only to small companies with relatively simple operating structures and processes. 
A) CSR reporting rarely provides feedback that is helpful in guiding a company's strategic and operational decision making. 
B) CSR reporting and feedback may help a company increase revenues and control costs but it rarely helps with efficient allocation of scarce resources. 
C) CSR and sustainability information provides important feedback to guide a company's strategic and operational goals regarding eco-efficiency measures. 
D) CSR and sustainability reporting are helpful only to small companies with relatively simple operating structures and processes.

Question 14

Which of the following statements about performance targets is true?

Accepted Answer

A) Performance targets are the same thing as performance metrics. 
B) Performance targets are the same thing as strategic initiatives. 
C) Performance targets are levels of improvement that management wants to achieve for performance metrics. 
D) Performance targets have nothing to do with performance metrics. 
A) Performance targets are the same thing as performance metrics. 
B) Performance targets are the same thing as strategic initiatives. 
C) Performance targets are levels of improvement that management wants to achieve for performance metrics. 
D) Performance targets have nothing to do with performance metrics.

Question 15

The balanced scorecard has four performance perspectives: financial, customer, learning and growth, and strategic.

Accepted Answer

A) True 
 B)False

Question 16

A measure map is an important aspect of the balanced scorecard performance measurement system. Which of the following describes the role of the measure map?

Accepted Answer

A) The measure map shows the expected relationships among the mission and strategic objectives of the organization. 
B) The measure map provides the production departments with the metrics and measurements needed to build the products. 
C) The measure map shows the expected relationships among the performance metrics chosen by the organization. 
D) The measure map is representative of the value chain of the organization. 
A) The measure map shows the expected relationships among the mission and strategic objectives of the organization. 
B) The measure map provides the production departments with the metrics and measurements needed to build the products. 
C) The measure map shows the expected relationships among the performance metrics chosen by the organization. 
D) The measure map is representative of the value chain of the organization.

Question 17

Julia and Jaime manage a glass-making company. Their company includes a manufacturing division, a warehouse and logistics division, and a customer care division. To avoid common measures bias when analyzing the performance of each of these unique divisions, Julia and Jaime should

Accepted Answer

A) choose performance metrics that will be applied equally to all three divisions regardless of the division's unique characteristics 
B) not use the balanced scorecard performance measuring system because it cannot be applied to unique circumstances 
C) not include the learning and growth perspective of the balanced scorecard under these circumstances 
D) create a unique divisional scorecard for each separate division 
A) choose performance metrics that will be applied equally to all three divisions regardless of the division's unique characteristics 
B) not use the balanced scorecard performance measuring system because it cannot be applied to unique circumstances 
C) not include the learning and growth perspective of the balanced scorecard under these circumstances 
D) create a unique divisional scorecard for each separate division

Question 18

The balanced scorecard elements are linked together by a

Accepted Answer

A) strategic objective 
B) standard cost card 
C) strategic initiative 
D) strategy map 
A) strategic objective 
B) standard cost card 
C) strategic initiative 
D) strategy map

Question 19

Juana and Carl are implementing a balanced scorecard for their company, DoItRight Manufacturing. They are considering various performance metrics for assessing progress toward strategic objectives. Which of the following would be a good choice of performance metric for the strategic objective listed?

Accepted Answer

A) The strategic objective of delighting the customer is measured by the number of repeat customers. 
B) The strategic objective of delighting the customer is measured by the average employee tenure. 
C) The strategic objective of increasing profits is measured by the number of hours provided for employee training. 
D) The strategic objective increasing profits is measured by the customer satisfaction rating. 
A) The strategic objective of delighting the customer is measured by the number of repeat customers. 
B) The strategic objective of delighting the customer is measured by the average employee tenure. 
C) The strategic objective of increasing profits is measured by the number of hours provided for employee training. 
D) The strategic objective increasing profits is measured by the customer satisfaction rating.

Question 20

Falco Industries is adopting a balanced scorecard. It would be a positive outcome of the process if Falco's employees fully embraced surrogation of the metrics.

Accepted Answer

A) True 
 B)False

Exam 28: The Balanced Scorecard and Corporate Social Responsibility

Briefly explain the role of performance metrics as an element of the balanced scorecard.

Which of the following suggested that management efforts not directly related to increasing profits are similar to "stealing" from a company's shareholders?

Cody is a manager at Valvco and is leading a team to create the measure map in the company's new BSC initiative. Cody is correct in sharing with his colleagues that a measure map provides a means for verifying the expectations of how strategic objectives affect one another.

The balanced scorecard incorporates only qualitative performance metrics.

Omega Energy Incorporated serves rural communities across the northeast with gas and home heating fuel. All of the following initiatives may be considered a part of the company's CSR efforts except

The balanced scorecard focuses on lagging indicators such as actual sales volume rather than including leading indicators such as customer satisfaction.

Performance measurement systems are used to assess how well a company is performing toward meeting its own goals and objectives.

Strategic performance measurement systems define and link strategic objectives to the performance metrics of a company.

Briefly explain the role of the strategic objective as an element of the balanced scorecard.

The form of CSR information that helps managers evaluate the savings generated by using fewer natural resources in a company's operations is known as

Match the following descriptions and examples with the elements of the balanced scorecard (a-d). -Used to assess performance in achieving the strategic objectives A)Performance metrics B)Strategic objectives C)Performance targets D)Strategic initiatives

The benefits of CSR investments

Which of the following statements regarding CSR reporting is true?

Which of the following statements about performance targets is true?

The balanced scorecard has four performance perspectives: financial, customer, learning and growth, and strategic.

A measure map is an important aspect of the balanced scorecard performance measurement system. Which of the following describes the role of the measure map?

Julia and Jaime manage a glass-making company. Their company includes a manufacturing division, a warehouse and logistics division, and a customer care division. To avoid common measures bias when analyzing the performance of each of these unique divisions, Julia and Jaime should

The balanced scorecard elements are linked together by a

Falco Industries is adopting a balanced scorecard. It would be a positive outcome of the process if Falco's employees fully embraced surrogation of the metrics.

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

The Accounting Cycle

Accounting for Retail Businesses

Inventories

Internal Control and Cash

Receivables

Long-Term Assets: Fixed and Intangible

Liabilities: Current, Installment Notes, and Contingencies

Liabilities: Bonds Payable

Corporations: Organization, Stock Transactions, and Dividends

Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Cost Systems

Activity-Based Costing

Support Department and Joint Cost Allocation

Cost-Volume-Profit Analysis

Variable Costing for Management Analysis

Budgeting

Evaluating Variances From Standard Costs

Evaluating Decentralized Operations

Differential Analysis and Product Pricing

Capital Investment Analysis

Lean Manufacturing and Activity Analysis

Investments

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