B1: Performance Measures Flashcards
Name the 4 financial measures of performance
Profit, Return on Investment, Variance Analysis, Balance Score Card
Define Profit
income generated after expense
Define variance analysis
actual vs. expected performance
Define Balanced Scorecard
converts strategic obj. into performance measures
Total factory productivity ratio
output/ TC
Partial productivity ratio
output/specific quantity
Define Total factor productivity ratios
reflects all quantity output produced relative to cost of all inputs used
ex material & labor cost
What do internal benchmarks achieve?
techniques aim at finding and analyzing problems or measuring performances
Name the 3 types of internal benchmarks
Control charts, histogram, cause & effects
Histogram vs. Cause & Effect
histogram determines most frequent QC issues
and
cause & effects is used to identify sources of production problems that contribute to defects
Effective performances measures….
promote the achievement of goals & motivates
Name the 5 types of marking practices & Methods
1) Transaction Marketing
2) Interaction based Relationship
3) Database MKT
4) E-Market
5) Network Mkt
Define Transaction Marketing
based on lowest price
ex. new/used car
** best used by sales value driven and evaluation methods on single transactions**
Define relationship based
repeat business/loyalty discounts
ex: new car sale emphasizes value with anticipation of repeat sales and ongoing service, customer surveys
**based around customer satisfaction & quality measures
E-Marketing
use internet to accomplish mkt. functions
