Exam 28: The Balanced Scorecard and Corporate Social Responsibility

Ken and Laura are working toward implementing a balanced scorecard for their company. They ask their production and warehouse teams to provide several options regarding strategic initiatives for the internal processes perspective of the balanced scorecard. Which of the following suggestions made by the employees would be a good choice of a strategic initiative for this purpose?

Performance targets may be linked to employee incentives such as bonuses and additional days off.

Performance measurement systems use measures of current performance to assess how well a company is performing toward meeting its goals and objectives.

Match the following descriptions of their use by management with the appropriate term (a or b). -Used by management to define and link strategic objectives to the performance metrics of a company A)Performance measurement system B)Strategic performance measurement system

In the strategic learning process, Carli is trying to understand why the increase in the customer satisfaction rating at her company did not generate the expected increase in sales for the last quarter. It would be logical for her simply to conclude that customer satisfaction has nothing to do with increased sales.

Sometimes a strategy map is referred to as a value chain.

A measure map is different from a strategy map because it shows which metrics are leading indicators and which metrics are lagging indicators.

Which of the following is an international organization that develops and encourages the use of sustainability reporting standards?

List the seven elements that make up a complete balanced scorecard.

The expected relationships among performance metrics in the measure map are based on

How does the Dow Jones Sustainability Index define sustainability?

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

Waterfield Company is looking for a way to help its executive managers assess how its three divisions are meeting the company's goals and objectives for the performance of its purchasing department. Which of the following metrics might be used for this purpose?

Jerome works at LoftCo, Inc., in research and development. The performance measures he gathers include assessing progress towards developing a better form of biodegradable plastic packaging. Jerome is focused on the internal processes perspective of the balanced scorecard performance management system.

Strategic performance measurement systems define and link strategic objectives to the external financial reports of a company.

Waterfield Company has three decentralized segments. Executive managers are looking for a way to measure the performance of each segment. Which of the following metrics might be used for this purpose?

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

An example of a CSR initiative focused on the social performance aspect of the triple bottom line might include which of the following?

Alexander and Kristin are executive managers at Safety First Fall Safety Equipment Co. They realize that within the last several quarters, they have been treating the performance metrics from the company's two very distinct divisions the same rather than focusing on the unique aspects of each division. They have inaccurately assessed divisional performance as a result. Alexander and Kristin realize they have fallen prey to a cognitive bias known as

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