Benchmarking often compares a company against a key competitor or the industry average. True O False CE.
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- What high-level position manager is responsible for working with the CEO and company president to determine the company’s competitive strategy?How can businesses align their KPIs with their strategic goals to ensure effective performance measurement?79) Which of the following best describes the benefit of Balanced Scorecard? a) The Balanced Scorecard guarantees a firm financial success for its shareholders and employees. b) The balanced Scorecard guards against the sub -optimization of individual functions by providing a holistic view of different operational measures. c) The balanced scorecard ensures that a firms product strategy is leading the market. d) The balanced scorecard protects the firm from having over-reaching government regulations.
- Value-Chain Analysis Sheldon Radio manufactures yacht radios, navigational equipment, anddepth-sounding and related equipment from a small plant near New Bern, North Carolina. One ofSheldon’s most popular products, making up 40% of its revenues and 35% of its profits, is a marineradio, model VF4500, which is installed on many of the new large boats produced in the UnitedStates. Production and sales average 500 units per month. Sheldon has achieved its success in themarket through excellent customer service and product reliability. The manufacturing process consists primarily of the assembly of components purchased from various electronics firms plus a smallamount of metalworking and finishing. The assembly operations cost $110 per unit. The purchasedparts cost Sheldon $250, of which $130 is for parts that Sheldon could manufacture in its existingfacility for $80 in materials for each unit plus an investment in labor and equipment that would cost$35,000 per month.Sheldon is considering…Which of the following is not a critical element in a total quality management system? Select one: a.activity-based costing b.continuous improvement c.employee involvement d.problem prevention emphasisYou have been hired as a Cost Accountant by Sundial, Inc., which produces sunglasses. Your duties include developing cost standards for materials and labor, designing and implementing cost accounting systems, defining various product and operational costs, analyzing production costs and recommending changes. When the trial period is over, you will have a performance review to demonstrate the completed tasks and gained knowledge. You have read the Cost of Quality Report of Sundial, Inc. and discovered that quality costs constitute 4.2% of sales. The amount is enormous, and your boss asks you to develop a set of measures to reduce it. Sundial, Inc. Cost of Quality Report For the Year Cost of Quality Percent of Sales ($32,000,000) Prevention costs $160,000 0.5% Appraisal costs $192,000 0.6% Internal failure costs $576,000 2.8% External failure costs $416,000 1.3% Total cost of quality $1,344,000 4.2% 1. How would you define…
- You have been hired as a Cost Accountant by Sundial, Inc., which produces sunglasses. Your duties include developing cost standards for materials and labor, designing and implementing cost accounting systems, defining various product and operational costs, analyzing production costs and recommending changes. When the trial period is over, you will have a performance review to demonstrate the completed tasks and gained knowledge. You have read the Cost of Quality Report of Sundial, Inc. and discovered that quality costs constitute 4.2% of sales. The amount is enormous, and your boss asks you to develop a set of measures to reduce it. Sundial, Inc. Cost of Quality Report For the Year Cost of Quality Percent of Sales ($32,000,000) Prevention costs $160,000 0.5% Appraisal costs $192,000…(1) Quality often drives customer preferences or judgments of product value more directly than cost alone does. True False (2) The best approach to formulating strategy begins with a clear objective or end goal. True FalseBusiness strategy focuses on improving the company's .competitive position :Select one True False