WGU C207 Data Driven Decision Making Module 6 Exam (Answered) Graded A+
3 views 0 purchase
Course
WGU C207
Institution
Western Governors University
WGU C207 Data Driven Decision Making Module 6 Exam (Answered) Graded A+
Performance measures are used to _______ the efficiency of an individual or group by using _________ and analytics.
evaluate, data collection
What does KPI stand for?
Key Performance Indicator
Which of the following could ...
wgu c207 data driven decision making module 6 exam answered graded a performance measures are used to the efficiency of an individual or group by using and analytics evaluate
Written for
Western Governors University
WGU C207
All documents for this subject (91)
Seller
Follow
ACADEMICAIDSTORE
Reviews received
Content preview
WGU C207 Data Driven Decision Making Module
6 Exam (Answered) Graded A+
Performance measures are used to _______ the efficiency of an individual or
group by using _________ and analytics.
evaluate, data collection
What does KPI stand for?
Key Performance Indicator
Which of the following could be an appropriate key performance indicator (KPI)?
consumer return rate
Which of the following is an advantage of key performance indicators (KPIs)?
KPIs can be used as a tool across an entire organization.
What is a balanced scorecard?
A management tool that measures key performance indicators across four key
organization areas
Which one of the following is a disadvantage of balanced scorecards?
a. They do not improve organization alignment.
b. They do not involve a relatively easy process to develop a meaningful
scorecard.
c. They fail to link a company's operations with its strategy.
They do not involve a relatively easy process to develop a meaningful scorecard.
Answers A and C are advantages.
Balanced scorecards do not involve a relatively easy process to develop a meaningful
scorecard.
For a balanced scorecard, about how many performance measures should be
included?
A number limited to the most crucial measures
A net promoter score is determined from results, on a scale from 0 to 10, of a
question about the customer's opinion of the company. What are the categories
used in NPS?
Promoters, Passives, and Detractors
What is an advantage of a net promoter score system of measurement?
NPS is easy to calculate and understand.
Return of sales, referrals and average tenure of employees are examples of
business performance measures. (T/F)
True
Performance measures can be used to assess the performance of an entire
organization, as well as an individual contributor. T/F
True
"SMART" criteria is an acronym for small, manageable, accepted, reliable, timely.
Often KPIs will follow "SMART" criteria for different company goals. T/F
False. "SMART" criteria stands for specific, measurable, attainable, relevant, and time-
bound. The key word that entirely does not fit is "small" KPIs usually are applied to
quantify company-wide goals.
, One of the disadvantages of using KPIs is that they are expensive and time-
consuming to set up and use. T/F
True
The balanced scorecard for a company measures the standard industry-defined
KPIs for each company.
F. The balanced scorecard is unique for each company. A company chooses which
KPIs to measure in accordance with its own motivations and goals.
An advantage to balanced scorecards is that they illustrate a full picture of a
company's performance, especially financial data. T/F
False. A balanced scorecard does not illustrate a full picture of a company's
performance because it is not possible to take into account all of the variables that
might have an effect.
A Net Promoter Score is important when looking at customer satisfaction and
loyalty. T/F
True. NPS is a specific performance measurement that categorizes a company's
customers into three groups to determine if the customer is loyal and would recommend
the product or service to a friend.
A Net Promoter Score is able to capture the precise area of dissatisfaction.
False. The NPS does not necessarily explain "why" a customer is not satisfied. Gaining
insight into the area of dissatisfaction requires more cooperation from dissatisfied
customers.
A company's strategy for evolving a company in the long-term should not be
considerate of employee's short-term goals. T/F
False. A company's strategy for evolving a company in the long-term should not be
considerate of employee's short-term goals.
If a company wants to determine its strategy it must understand itself and its
competitors from extensive data collection and analysis. T/F
True
Balanced Scorecard
An approach using multiple measures to evaluate performance, including financial
measures, and the non-financial measures of customers, internal business processes,
and learning and growth.
Business process
A sequence of logically related and time-based work activities to provide a specific
output for a customer.
Critical Success Factors
The important things an entity must do to be successful, such as quality measures,
customer service, or efficiency.
Customer satisfaction
A measure of the extent to which customers are satisfied with the products and related
services they received from a supplier.
Cycle time
The total elapsed time to move a unit of work from the beginning to the end of a
physical process, as defined by the producer and the customer.
Detractor
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICAIDSTORE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.74. You're not tied to anything after your purchase.
