Using benchmarking and best practices as a means of achieving operating excellence
A) is a four-step process that entails (1) benchmarking how well a company performs specific tasks and activities against best-in-industry or best-in-world performers, (2) adapting the various best practices to fit the company's situation and then implementing them, (3) continuing to benchmark company performance of activities against best-in-industry or best-in-world performers, and (4) continuing to improve and refine the company's performance of its activities and thereby move closer to operating excellence.
B) is essential if a company is to effectively and efficiently implement TQM and/or Six Sigma quality control systems.
C) needs to be directed chiefly at manufacturing and customer service activities, since these two areas are generally the most critical to good strategy execution.
D) is a prerequisite to effective reengineering of core business processes and to building strong core competencies.
E) is a potent tool for helping top managers set stretch performance targets and track a company's progress in executing its strategy.
Answer: A
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MAN Chapter 11
- Which of the following is not characteristic of a compensation and reward system designed to help drive successful strategy execution?
- Which of the following is not a sound guideline for designing a reward and incentive system that helps promote good strategy execution?
- The guidelines for designing an incentive compensation system that will help drive successful strategy execution include
- An important consideration in designing a strategy-supportive reward system is to
- A well-designed reward system
- The most dependable way to keep people focused on strategy execution and the achievement of performance targets is to
- Motivational and incentive compensation practices that aim at winning the commitment of company personnel to good strategy execution typically
- A reward system that accentuates positive rewards for good performance
- From the standpoint of promoting successful strategy execution, it is important that the firm's motivation and reward system
- A motivation and incentive system that is aimed at spurring stronger employee commitment to good strategy execution
- Which one of the following is not likely to be effective in trying to gain employees' wholehearted commitment to good strategy execution and operating excellence?
- In trying to gain employees' wholehearted commitment to good strategy execution and operating excellence, managers are well advised to use such incentives as
- Enlisting employees' sustained and energetic commitment to good strategy execution and achievement of the targeted strategic and financial objectives is best done by
- The strategic role of a company's reward system is to
- Management's most powerful tool for winning employee commitment to good strategy execution and operating excellence is
- Management's most powerful tool for mobilizing employee commitment to competent strategy execution and operating excellence is
- Information systems provide managers with a means for monitoring
- The areas that information systems need to cover include all but which one of the following?
- The areas that information systems need to cover include
- Well conceived, state-of-the-art information and operating systems
- Installing well-conceived state-of-the-art support systems are an important managerial component of implementing and executing strategy because
- To build a total quality culture and achieve full value from the use of TQM or Six Sigma initiatives, managers can take such action steps as
- To obtain maximum benefits from benchmarking, best practices, reengineering, TQM, and Six Sigma programs aimed at facilitating better strategy execution, managers need to
- The big difference between business process reengineering and continuous improvement programs like TQM or Six Sigma is that
- Which one of the following statements about Six Sigma quality programs is true?