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Exam 3: Measuring Performance in Operations

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Question 21

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A manufacturer of business copier workstations has a 75 percent customer retention rate. Their accounting department estimates the incremental contribution to profit and overhead as 40 percent. Customers purchase the workstations every three years at an average cost of $1,500.00. Determine the average value of a loyal customer.

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VLC = P *CM * RF *BL...

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Question 22

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In choosing performance measures, an organization might consider all of the following criteria except

A) Is the measure actionable?
B) Is the measure based on behavioral performance?
C) Is the measure important to customers?
D) Does the measurement support the firm's mission?

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Question 23

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

Regarding the service-profit chain model, which of the following is not viewed as internal performance?

Design flexibility is the ability to respond quickly to changes in the volume and type of demand.

The Leadership category of the Baldrige criteria includes how an organization addresses its public and community responsibilities.

Jeff Camm, the president of Biometrics, Inc. has received the following data from his accountant: How is productivity changing in Jeff's firm?

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

Describe the five key dimensions of assessing service quality.

What are the major categories of organizational performance measures? Provide an example measure for each category.

Briefly discuss the seven categories of the Malcolm Baldrige National Quality Award.

Queue time is a fancy term for service time variance.

The service-profit chain model is based on understanding cause-and-effect linkages among performance measures.

Explain the difference between goods quality and service quality, and how they are measured.

Employee satisfaction and other workforce-related measures fall into which perspective in the Balanced Scorecard?

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

Value chain measures would generally be less valuable to

A family rents videos from a local video store. On average, they spend $80.00 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.

Which one of the following statements is true regarding FedEx's Service Quality Indicator (SQI) ?

Dell's ability to provide a wide range of customized computer hardware to accommodate customers' needs best describes