C207 Data-Driven Decision Making (VPC2)

64
Why is choosing appropriate performance indicators important for data-driven decision-making?

• They satisfy governmental regulations.
• They convince employees that they are equally as important as their managers.
• They are a key part of an organization’s rules and bylaws.
• They align with an organization’s definition of success.

65
Which performance metric simultaneously accounts for financial, customer, internal process, and learning metrics?

• Balance sheet
• Customer complaint report
• Balanced scorecard
• Income statement

66
What are two qualities of key performance indicators (KPIs)? Choose 2 answers.

• They are flexible and easily changed.
• They require little to no ongoing maintenance.
• They often follow SMART criteria.
• They can be used as a tool for internal benchmarking.

67
What is a disadvantage of using a balanced scorecard?

• It requires time and effort to develop a meaningful template.
• It is expensive to implement effectively within an organization’s operations.
• It does not link operations with company strategy.
• It does not include a mix of financial and nonfinancial performance measures.

68
Management uses a net promoter score. What can management determine using this performance measurement?

• Quality assurance benchmarks
• The likelihood a customer will recommend the company
• Financial and nonfinancial information
• Quantifiable goals to gauge employee progress

69
The U.S. Postal Service wants to know if local first-class mail is being delivered within two days of postmark. Which key performance indicator (KPI) should the Postal Service use?

• Incentive performance rate
• On-time performance
• Customer satisfaction
• Employee morale index

70
A professional services firm is undergoing a business process improvement exercise to improve productivity, staff morale, and client satisfaction while also thinking about the overall long-term financial performance of the company. Which performance tool would best meet this firm’s objectives?

• KPI dashboard
• Net promoter score
• Balanced scorecard

Results-based manageme

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