During the 1950s

question 78

Multiple Choice

During the 1950s:

• A) the federal government bypassed the South as a location for new military bases and shipyards.
• B) more efficient machinery and fertilization techniques helped the shift toward larger farms with fewer people working on them, particularly in the West.
• C) agricultural production in the West rapidly declined in the face of rising competition from world markets.
• D) the Cold War stimulated western manufacturing in defense industries such as guided missiles.
• E) B and D

Define core customer measures and their relevance to business strategy and performance evaluation.

Understand the concept and application of non-financial measures in evaluating firm performance.

Identify the components and structure of the Kaplan and Norton framework for a balanced scorecard.

Recognize limitations associated with traditional performance measures.

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Definitions:

Inputs

Resources used in the production process to produce goods or services, including labor, raw materials, and capital.

Output

The total amount of goods or services produced by a company, industry, or economy over a given period.

Diseconomies of Scale

The phenomenon where production costs per unit increase as the scale of operation enlarges, often due to inefficiencies or increased complexity.

Constant Returns to Scale

A situation in economic production where increasing all inputs by any proportionate amount results in output increasing by the same proportion.