Quiz 1 SG Theme 1
Study Guide
Quiz 1
Theme 1: Strategy Development & Performance Evaluation
1. Understand the role of management accounting in the organization. More specifically, review the following concepts.
a. How management accounting data are used in the organization.
b. Compare and contrast financial and management accounting.
c. How the need for management accounting data changes with firm size and diversity.
d. Why employees may resist change driven by management accounting.
2. What is the focus or overview of Theme 1: Strategy Development & Performance Evaluation?
3. Consider The Balanced Scorecard (BSC) along the lines of the issues listed below.
a. Understand the concept of each dimension or four levels used in the BSC. Describe each dimension and the related cause and effect among these dimensions.
b. What is the role of business strategy in the BSC and how is this strategy used?
c. What is meant by the phrase “you get the behavior you reward” and how does it relate to the BSC?
d. Understand the circumstances when financial performance measures are most effective or appropriate and when nonfinancial performance measures are most effective or appropriate.
e. What are the unique aspects to applying the BSC to nonprofits and government agencies?
f. Be comfortable applying the BSC to a scenario.
g. What are the barriers to managing using the BSC?
4. Considering the management of customer relationships based on the dimensions listed below.
a. What is the linkage between managing customer relationships and the BSC?
b. Why is it important to appropriately manage customer relationships?
c. Be comfortable listing the characteristics of high service customer segments and low customer service segments. How would you service these segments differently?
d. Understand the concept and application of:
i. Pareto Criterion. ii. The 40-1 Rule. iii. The 2 by 2 matrix of customer segment cost to service and profitability. iv. Discounts, allowances and the Waterfall Diagram.
e. How would
Quiz 1
Theme 1: Strategy Development & Performance Evaluation
1. Understand the role of management accounting in the organization. More specifically, review the following concepts.
a. How management accounting data are used in the organization.
b. Compare and contrast financial and management accounting.
c. How the need for management accounting data changes with firm size and diversity.
d. Why employees may resist change driven by management accounting.
2. What is the focus or overview of Theme 1: Strategy Development & Performance Evaluation?
3. Consider The Balanced Scorecard (BSC) along the lines of the issues listed below.
a. Understand the concept of each dimension or four levels used in the BSC. Describe each dimension and the related cause and effect among these dimensions.
b. What is the role of business strategy in the BSC and how is this strategy used?
c. What is meant by the phrase “you get the behavior you reward” and how does it relate to the BSC?
d. Understand the circumstances when financial performance measures are most effective or appropriate and when nonfinancial performance measures are most effective or appropriate.
e. What are the unique aspects to applying the BSC to nonprofits and government agencies?
f. Be comfortable applying the BSC to a scenario.
g. What are the barriers to managing using the BSC?
4. Considering the management of customer relationships based on the dimensions listed below.
a. What is the linkage between managing customer relationships and the BSC?
b. Why is it important to appropriately manage customer relationships?
c. Be comfortable listing the characteristics of high service customer segments and low customer service segments. How would you service these segments differently?
d. Understand the concept and application of:
i. Pareto Criterion. ii. The 40-1 Rule. iii. The 2 by 2 matrix of customer segment cost to service and profitability. iv. Discounts, allowances and the Waterfall Diagram.
e. How would