Key measures of innovation and learning include ______ a. supply-chain performan
ID: 367205 • Letter: K
Question
Key measures of innovation and learning include ______
a. supply-chain performance
b. processing time
c. percentage of new products developed
d. the variance around the average time
The _______ is based on a set of cause-and-effect linkages between internal and external performance, and in this fashion, defines the key performance measurements on which service-based firms should focus.
a. Service-Profit Chain model
b. value chain model
c. balanced scorecard inversion model
d. Malcolm Baldrige Performance Excellence program
The innovation and learning perspective in the balanced scorecard model includes measures such as:
a. return on investment, economic value added, and shareholder value.
b. number of cooperative customer–company design initiatives and percent of sale from new services.
c. training hours per employee, hiring process effectiveness, and revenue per employee.
d. service-quality levels, design and demand flexibility, and asset utilization.
Explanation / Answer
Q1.
Key measures of innovation and learning include ______
The answer is percentage of new products developed.
If you look at the other options, they are all normal operational KPIs. However, the amount of new products introduced is directly co-related to the amount of innovation an organization does.
Q2.
The _______ is based on a set of cause-and-effect linkages between internal and external performance, and in this fashion, defines the key performance measurements on which service-based firms should focus.
The answer is Service Profit Chain Model.
The explanation is simple - this is the model which links all the internal and external factors and tells the firm what it has to focus on. It establishes a relationship between all key internal and external factors such as customer loyalty, profitability, employe productivity, employee satisfaction/motivation etc.
Q3. The innovation and learning perspective in the balanced scorecard model includes measures such as:
The answer is training hours per employee, hiring process effectiveness, and revenue per employee.
The explanation is sraightforward here as it is an established model. The model says that the innovation and the learning objectives in the balanced scorecard model should establish a firm relationship between how you train an employee, what you train them for, what you hire them for, and ultimately what you are getting from the employees. Hence, the natural choice for the answer is c). The other options are clear misfits.
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