Asked by Melaney Heinrichs on Apr 26, 2024
Verified
An important consideration in establishing a measure map includes determining the
A) leading and lagging indicators
B) mission of the organization
C) standard costs of the products being manufactured
D) net income of the company
Measure Map
A concept used in Six Sigma or process improvement strategies to provide a visual representation and analysis of a process's steps and performance indicators.
Leading Indicators
Factors in the economy that shift prior to the overall economy beginning to adopt a specific direction or trend, utilized for forecasting upcoming economic activities.
Lagging Indicators
Metrics that reflect the economy’s historical performance and changes, becoming apparent after an economic activity.
- Gain an understanding of the concepts and components integral to a balanced scorecard.
- Distinguish between leading and lagging indicators.
Verified Answer
Learning Objectives
- Gain an understanding of the concepts and components integral to a balanced scorecard.
- Distinguish between leading and lagging indicators.
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