QM Chapter 12 Quiz

Physical and financial assets have become more important than knowledge assets in many organizations.

False

_____ knowledge is information that is formed around intangible factors resulting from an organization's or individual's experience, and is content-specific.

Tracit

The transfer of knowledge within organizations and the identification and sharing of best practices often set high-performing organizations apart from the rest.

True

Who among the following first developed the concept of a balanced scorecard?

Art Schneiderman

_____ data refer to industry averages, competitor performance, world-class benchmarks, or performance measures of other organizations with similar product offerings.

Comparative

_____ of product and service performance and customer indicators is a critical management tool for defining and focusing on key quality and customer requirements, identifying product and service differentiators in the marketplace, and determining cause-effect relationships between product and service attributes and measures of customer satisfaction and loyalty.

Correlation analysis

Which of the following perspectives of the balanced scorecard focuses on market share?

Customer

Which of the following perspectives of the balanced scorecard include service levels, satisfaction ratings, and repeat business?

Customer

_____ knowledge includes information stored in documents or other forms of media such as databases, policies and procedures, and technical drawings.

Explicit

_____ systems are software packages that integrate organizational information systems and provide an infrastructure for managing information across the organization.

Enterprise resource planning

_____ knowledge is easily captured, stored, and disseminated using computer technology.

Explicit

Compared to money, labor, and capital equipment, knowledge is always the easiest to manage.

False

Data mining is the most effective method of establishing cause-and-effect relationship among variables.

False

Leading indicators of a balanced scorecard represent long-term results.

False

Which of the following measures of the Baldrige criteria of performance measurement includes revenue, return on equity, return on investment, and operating profit?

Financial outcomes

Which of the following analytical approach or technology is most likely to be used for data mining?

Fuzzy logic

Which of the following perspectives of the balanced scorecard directs attention to the basis of a future success —the organization's people and infrastructure?

Innovation and learning

Which of the following perspectives of the balanced scorecard includes intellectual assets, employee satisfaction, market innovation, and skills development?

Innovation and learning

_____ is the term that describes the quantitative modeling of cause-and-effect relationships between performance measures, such as the customer satisfaction and product quality or employee performance.

Interlinking

_____ assets refer to the accumulated intellectual resources that an organization possesses, including information, ideas, learning, understanding, memory, insights, cognitive and technical skills, and capabilities.

Knowledge

Which of the following is true about the practical guidelines suggested by Mark Graham Brown for designing a performance measurement system?

Measures should be based around the needs of customers, shareholders, and otherkey stakeholders.

Which of the following measures of the Baldrige criteria of performance measurement includes internal quality measurements, defect levels, service errors, and response times?

Product outcomes

_____ involves the discovery, learning, creation, and reuse of knowledge that eventually becomes intellectual capital—knowledge that can be converted into value and profits.

Rapid knowledge transfer

A knowledge-enabled culture is created when an organization employs a system of aligned human resource policies, tactics, processes, and practices that ensure knowledge is created, captured, used, and reused to achieve superior organizational results as a sustainable advantage.

True

A useful approach to ensuring data reliability is for internal cross-functional teams or external auditors to conduct periodic audits of the processes used to collect the data.

True

An effective knowledge management system should include a common framework for managing knowledge and some way of validating and synthesizing new knowledge as it is acquired.

True

Confidentiality and security are critical in managing data, particularly with the increasing use of electronic data transfer.

True

Data accessibility empowers employees and encourages their participation in quality improvement efforts.

True

Leading organizations continually improve their performance measurement systems, staying abreast of new techniques.

True

Oracle is one of the most prominent vendors for ERP software.

True

Setting targets for each performance measure provides the basis for strategy deployment.

True

To achieve a high level of performance excellence, an organization requires a much broader set of performance measures that are aligned to an organization's strategy; this became known as the:

balanced scorecard.

The ability to identify and transfer best practices within the organization is sometimes called _____.

internal benchmarking

In the context of managing information resources, the quality of information can be improved by:

placing accountability on the creators of data and information.