1. Explain how operational control works in a lean manufacturing firm.
2. Describe the benefits of life-cycle cost budgeting.
3. What is target costing? Describe how costs are reduced so that the target cost can be met.
4. What is the purpose of a Balanced Scorecard?
5. According to the Balanced Scorecard, what is a strategy?
6. Explain the difference between lag measures and lead measures.
7. What is a testable strategy?
8. What is meant by double-loop feedback?
9. What are the three strategic themes of the financial perspective?
10. Identify the five core objectives of the customer perspective.
11. Explain what is meant by the long-wave and the short-wave of value creation.
12. What is cycle time? Velocity?
13. What is manufacturing cycle efficiency?
14. Identify three objectives of the learning and growth perspective.