Exam 12: Strategy, balanced Scorecard, and Strategic Profitability Analysis

________ measures the relationship between actual inputs used and actual outputs achieved.

Total factor productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.

Terbium Corporation manufactures water toys.It plans to grow by producing high-quality water toys that are delivered in a timely manner.There are a number of other manufacturers who produce similar water toys.Terbium believes that continuously improving its manufacturing processes and reengineering processes to downsize and eliminate excess capacity are critical to implementing its strategy.Out of the two basic strategies,Terbium's strategy is ________.

Which component of strategy measures the reduction in costs attributable to a reduction in the quantity of inputs used in Year 2 relative to the quantity of inputs that would have been used in Year 1 to produce the Year 2 output?

The revenue effect of price recovery is calculated by multiplying the difference in selling price (current year minus the previous year)by ________.

An effective balanced scorecard helps to communicate the strategy to all members of the organization by translating the strategy into a coherent and linked set of understandable and measurable operational targets.

The operating capabilities is an example of the ________ measure of a balanced-scorecard.

Define engineered and discretionary costs and give two examples of each.

One of the five forces of industry analysis is understand the bargaining power of customers.

Terbium Corporation manufactures water toys.It plans to grow by producing high-quality water toys that are delivered in a timely manner.There are a number of other manufacturers who produce similar water toys.Terbium believes that continuously improving its manufacturing processes and reengineering processes to downsize and eliminate excess capacity are critical to implementing its strategy.To further company strategy,measures on the balanced scorecard would most likely include ________.

Partial productivity multiplied by the quantity of input used results in ________.

Strategy describes how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its overall objectives.

Manufacturing overhead cost is an example of indirect engineered costs.

Assuming previous year's production capacity was inadequate to produce current year output,the cost effect of growth for fixed costs is calculated by multiplying the difference between ________ by price per unit of capacity in the previous year.

Which of the following statements is a possible pitfall while implementing a balanced scorecard?

Conversion costs are an example of ________.

________ is an example of a total factor productivity measure.

________ refers to an organization's ability to achieve lower costs relative to competitors through productivity and efficiency improvements,elimination of waste,and tight cost control.

An increase in production capacity will always result in a favorable cost effect of productivity for variable costs in the short run.

________ are the subdivisions of income that management accountants use for the strategic analysis of operating income.