CSM Strategic Planning & Business Analysis Flashcards

What is the purpose of a SWOT analysis in service management strategy?

Answer: To evaluate Strengths, Weaknesses, Opportunities, and Threats affecting the service department

A SWOT analysis evaluates internal strengths and weaknesses alongside external opportunities and threats to inform strategic planning decisions.

What does a Key Performance Indicator (KPI) measure in service management?

Answer: Critical outcomes that indicate whether the department is achieving its strategic goals

KPIs are measurable values that indicate how effectively a service department is achieving its key business objectives.

What is 'benchmarking' in the context of CSM strategic planning?

Answer: Comparing service performance metrics against industry standards or competitors

Benchmarking compares an organization's service performance against industry standards or best-in-class competitors to identify improvement opportunities.

Which planning tool maps out the long-term direction and major milestones for a service department over time?

Answer: Strategic roadmap

A strategic roadmap visualizes the long-term direction, key initiatives, and milestones for achieving the service department's goals.

What is the purpose of a gap analysis in service management?

Answer: To identify the difference between current performance and desired future performance

Gap analysis identifies the difference between where the service department currently performs and where it needs to be to meet its strategic objectives.

A service manager is asked to create a balanced scorecard. Which four perspectives does it typically include?

Answer: Financial, Customer, Internal Processes, and Learning & Growth

The balanced scorecard framework evaluates performance across four perspectives: Financial, Customer, Internal Processes, and Learning & Growth.