Quiz 9: the balanced scorecard, the triple bottom line, and business models
At present, _____ make up the oldest cohort of the workforce.
Baby Boomers
Red Ink Electronics Inc. faced a serious technical problem when developing a microprocessor for a high-tech medical device. The employees of the company including those in the research and development department were unable to solve the issue. Thus, an open call was made to the general public, mainly technicians and product engineers, on the company's website to volunteer to solve the technical problem the company faced. Which of the following does the scenario best illustrate?
Crowdsourcing
Which of the following is an advantage of the balanced scorecard?
It allows managers to translate a firm's vision into measureable operational goals.
Which of the following statements is true of the balanced scorecard?
It attempts to provide a holistic perspective on firm performance.
Which of the following is NOT an advantage of the balanced scorecard approach to assess firm performance
It is a tool which can be effectively used by managers for both strategic implementation and strategic formulation.
True Vibgyor Inc. sells its e-book readers at the cost price of $15 each. However, the company makes its profits when users have to download or buy books online. Which of the following business models is True Vibgyor implementing?
Razor-razor blade
Which of the following frameworks used to measure competitive advantage relies on both an internal and an external view of a firm?
The balanced scorecard model
Which of the following approaches to assess competitive advantage is based on the view that non-economic factors can have a significant impact on a firm's financial performance?
The triple-bottom-line approach
Which of the following statements is true of the triple bottom line?
Three dimensions, economic, social, and ecological, make up the triple bottom line.
Janet is a 23-year-old employee at DR Products Inc. As a millennial, she will tend to:
expect her company to be socially responsible.