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Exam 3: Measuring Performance in Operations

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Question 31

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Identify a true statement about models of organizational performance.

A) The theory of the balanced scorecard states that leadership drives the system that creates business results.
B) The Service-Profit Chain model focuses on learning, internal business, customers, and financial performance.
C) The five performance perspectives of the balanced scorecard model are cost, time, quality, flexibility, and innovation.
D) The Service-Profit Chain model is based on a set of cause-and-effect linkages between internal and external performance.

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Question 32

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Which of the following performance perspectives in the balanced scorecard model measures the ultimate value that a business provides to its shareholders?

A) Financial perspective
B) Internal perspective
C) Learning perspective
D) External perspective

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Question 33

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Empathy is the caring attitude and individualized attention provided to customers.

A coffee shop's average transaction price is $3, the contribution margin is 60 percent, a typical customer makes a purchase once a week or 52 weeks per year, and the management estimates the value of a loyal customer over the buying life cycle as $520. What is the customer defection rate?

A family rents videos from a local video store. On an average, they spend $80 a month. The store's contribution margin is 45 percent and the average customer defection is 40 percent. Determine the value of a loyal customer.

_____ is the ability to provide goods and services to customers with minimum waste and maximum utilization of resources.

Good customer satisfaction measurement systems are designed to provide information about a customer's future buying behavior.

_____ have the primary responsibility to design and manage the processes and associated resources that create value for customers.

Service-quality measures are based primarily on human perceptions of service collected from customer surveys, focus groups, and interviews.

A manufacturer of paint has two factories located in France and Spain and due to economic conditions must close one of them. The factory productivity data is as follows: $\begin{array} { | l | c | c | } \hline & \text { Gallons of Paint } & \text { Resource Cost } \\\hline \text { Factory (France) } & \text { Produced (in 1,000s) } & \text { per Gallon } \\\hline \text { Factory (Spain) } & 4,600 & \$ 4.25 \\\hline\end{array}$

Assurance is the willingness to help customers and provide prompt recovery to service upsets.

Describe the five key dimensions of assessing service quality.

Which of the following performance perspectives in the balanced scorecard model includes measures like productivity, flow time, and asset utilization?

Briefly discuss the four performance perspectives of the Balanced Scorecard Model.

Which of the following is NOT a financial performance measure at an organizational level?

The balanced scorecard is designed to be linked to an organization's strategy.

As output decreases for a constant level of input, productivity also decreases.

Explain the concepts underlying the Service-Profit Chain model.

Explain the difference between design flexibility and volume flexibility.

In the value chain model, efficiency, cost, and cycle time are related to _____.