Developing a Competitive Strategy; Contemporary Cost Management Techniques 95 innovation, regulation and utilization d. cost, quality and speed of product development and delivery c. 36. After critical success factors (CSF$) have been identified, the next step in developing a competitive strategy is to develop relevant and reliable measure for these CFSs. If these measures are not developed, a firm cannot hope to: make profit for any extended period. b. increase sales above previous year(s) develop policies to enhance profitability. d. monitor its progress toward achieving its strategic goals. a. C. 37. In order to achieve a firm's objectives, the strategic cost accounting system must collect, record and report the right king of information. b. . information on a very regular basis. only incremental information d. c. detailed information. The "balanced scorecard" accounting report can be made more effective by developing it at a detail level so that employees: can see how it is put together b. 38. . appreciate all the effort that goes into its preparation respect management for including them in its formulation. c. can see how their actions contribute to the success of the firm. d. 39. Both leading and lagging indicators should be used in the development of the "balanced scorecard" accounting report because: leading indicators are future oriented and lagging indicators are :primarily historical output measures. a. one type of indicator will always correct the other type. b. leading indicators are expressed non-quantitatively while lagging indicators are expressed only in quantitative terms C. both answer a and answer b are correct d. The objective of the value chain analysis is to identify stages ofthe value 40. chain where the firm can: justify increases in the price of the product or service. a. increase value to the customer or reduce cost b. sublet production to other producers. C. Answer b is most correct, but answer a and c are d. possibly true