A large discount store has used a balanced scorecard for several years. The store's vision is to provide customers with affordableproducts in a family-friendly shopping environment. The company's strategy has been to focus on reducing the wait times forcustomers when checking out and when asking questions on the sales floor. Performance measures for the last two years follows.Average sale (total revenue/total invoices)Average variable cost per saleAverage customer wait time at counterAverage wait time for sales floor helpTotal returnsTotal revenueTotal labour costUtilities cost (electricity and phone)Number of items out of stockEmployee turnover(a)Average saleAverage variable cost per saleAverage customer wait time at counterAverage wait time for sales floor helpTotal returnsTotal revenueTotal labour costClassify each performance measure according to one of the four balanced scorecard perspectives.Utilities costNumber of items out of stockYear 1Employee turnover$37.5$15.752.5 minutes3 minutes$142,500$2,000,000$500,000$5,2501203$30$122 minutes2 minutes$135,000$1,683,000$495,000$5,500Year 2Customer or financialFinancial or InternalInternalCustomerFinancialLearning and growth1805

A balanced scorecard is a strategic planning and management system that organizations use to:-…

Answered: A large discount store has used a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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As part of their responsibilities, all managers get involved in planning, scheduling, and monitoring the design, development, production, and delivery of the organization's products and services. True € se
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The following is an excerpt from a conversation between two sales clerks, Tracy Rawlin and Jeff Weimer. Both Tracy and Jeff are employed by Magnum Electronics, a locally owned and operated electronics retail store. Suggest appropriate control procedures that would have prevented or detected the theft of cash.
As part of their responsibilities, all managers get involved in planning, scheduling, and monitoring the design, development, production, and delivery of the organization's products and services. True € se
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What does the intercept mean in equation below ? X: C18 (total employees hours worked per week) versus Y: C19 (clinic patients seen per week). Equation: y=0.49x+0.84 Slope:0.49 Intercept:0.84 Does the intercept mean it is 0.84 and predicts how many patients seen if zero hours were workeed. In this case it has no meaning , it is only a line fitting?
We know that a Balanced Scorecard is comprised of four components: financial (or stewardship), customer (or stakeholder), internal process, and organizational capacity (or learning and growth). What would you include in a dashboard for the financial and customer components? Essay Toolbar navigation. BIVS = 111 P
When a consumer calls the help desk and says, "My machine won't start," an excellent help desk worker should have four investigative questions ready. This will help them find the problem.
Within the process in the "monitoring" section, we consider the indicators (choose the correct answer): a. clearly insufficient b. superfluous and interpretable c. the best tool for decision making
As part of their responsibilities, all managers get involved in planning, scheduling, and monitoring the design, development, production, and delivery of the organization's products and services. True € se
If “Most services are characterized by an encounter between a service provider and a customer” (Bordoloi, p. 95), then “This interaction, which defines the quality of the service in the mind of the customer, is called a ‘moment of truth’ (Bordoloi, p. 95). It is this “moment in time” when your customer “is evaluating the service and forming an opinion of its quality” (Bordoloi, p. 95). Each of these “moments of truth” is an opportunity “to influence the customer’s perceptions of the service quality” (Bordoloi, p. 95). What does this look like in your current or futurebusiness model? Describe some of your current or expected moments of truth. Once you have answered that, how will you continually change the “mind of the customer” to make sure these moments of truth positively impact your organization?

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