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Balanced scorecard, environmental, and social performance. Gardini Chocolates makes custom-labeled, high-quality, specialty candy bars for special events and advertising purposes. The com- pany employs several chocolatiers who were trained in Germany. The company offers many varieties of chocolate, including milk, semi-sweet, white, and dark chocolate. It also offers a variety of ingredients, such as coffee, berries, and fresh mint. The real appeal for the company's product, however, is its custom labeling. Customers can order labels for special occasions (for example, wedding invitation labels) or busi- ness purposes (for example, business card labels). The company's balanced scorecard for 2017 follows. For brevity, the initiatives taken under each objective are omitted. Target Performance Performance Actual Objectives Financial Perspective Measures Increase shareholder value Operating-income changes from price recovery Operating-income changes from growth Cost savings due to reduced packaging size $1,000,000 $1,500,000 $200,000 $250,000 $40,000 $50,000 Customer Perspective Increase market share Market share of overall candy bar market 8% 7,8% Increase the number of new Number of new product offerings 7 product offerings Increase customer acquisitions due to sustainability efforts Percentage of new customers surveyed who required recycled paper options 35% 40% Internal-Business-Process Perspective Average design time Internal quality rating (10-point scale) Reduce time to customer 3 days 3 days Increase quality 7 points 8 points Increase use of recycled Recycled materials used as a percentage of total materials used materials 30% 32% Learning-and-Growth Perspective Increase number of professional chocolatiers Number of chocolatiers 6. Increase number of women and minorities in the workforce Percentage of women and minorities in the workforce 40% 38%

Balanced scorecard, environmental, and social performance. Gardini Chocolates makes custom-labeled, high-quality, specialty candy bars for special events and advertising purposes. The com- pany employs several chocolatiers who were trained in Germany. The company offers many varieties of chocolate, including milk, semi-sweet, white, and dark chocolate. It also offers a variety of ingredients, such as coffee, berries, and fresh mint. The real appeal for the company's product, however, is its custom labeling. Customers can order labels for special occasions (for example, wedding invitation labels) or busi- ness purposes (for example, business card labels). The company's balanced scorecard for 2017 follows. For brevity, the initiatives taken under each objective are omitted. Target Performance Performance Actual Objectives Financial Perspective Measures Increase shareholder value Operating-income changes from price recovery Operating-income changes from growth Cost savings due to reduced packaging size $1,000,000 $1,500,000 $200,000 $250,000 $40,000 $50,000 Customer Perspective Increase market share Market share of overall candy bar market 8% 7,8% Increase the number of new Number of new product offerings 7 product offerings Increase customer acquisitions due to sustainability efforts Percentage of new customers surveyed who required recycled paper options 35% 40% Internal-Business-Process Perspective Average design time Internal quality rating (10-point scale) Reduce time to customer 3 days 3 days Increase quality 7 points 8 points Increase use of recycled Recycled materials used as a percentage of total materials used materials 30% 32% Learning-and-Growth Perspective Increase number of professional chocolatiers Number of chocolatiers 6. Increase number of women and minorities in the workforce Percentage of women and minorities in the workforce 40% 38%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Q.Do you agree with Gardini’s decision not to include measures of changes in operating income from productivity improvements under the financial perspective of the balanced scorecard? Explain briefly.

Balanced scorecard, environmental, and social performance. Gardini Chocolates makes custom-labeled, high-quality, specialty candy bars for special events and advertising purposes. The com- pany employs several chocolatiers who were trained in Germany. The company offers many varieties of chocolate, including milk, semi-sweet, white, and dark chocolate. It also offers a variety of ingredients, such as coffee, berries, and fresh mint. The real appeal for the company's product, however, is its custom labeling. Customers can order labels for special occasions (for example, wedding invitation labels) or busi- ness purposes (for example, business card labels). The company's balanced scorecard for 2017 follows. For brevity, the initiatives taken under each objective are omitted. Target Performance Performance Actual Objectives Financial Perspective Measures Increase shareholder value Operating-income changes from price recovery Operating-income changes from growth Cost savings due to reduced packaging size $1,000,000 $1,500,000 $200,000 $250,000 $40,000 $50,000 Customer Perspective Increase market share Market share of overall candy bar market 8% 7,8% Increase the number of new Number of new product offerings 7 product offerings Increase customer acquisitions due to sustainability efforts Percentage of new customers surveyed who required recycled paper options 35% 40% Internal-Business-Process Perspective Average design time Internal quality rating (10-point scale) Reduce time to customer 3 days 3 days Increase quality 7 points 8 points Increase use of recycled Recycled materials used as a percentage of total materials used materials 30% 32% Learning-and-Growth Perspective Increase number of professional chocolatiers Number of chocolatiers 6. Increase number of women and minorities in the workforce Percentage of women and minorities in the workforce 40% 38%
Transcribed Image Text:Balanced scorecard, environmental, and social performance. Gardini Chocolates makes custom-labeled, high-quality, specialty candy bars for special events and advertising purposes. The com- pany employs several chocolatiers who were trained in Germany. The company offers many varieties of chocolate, including milk, semi-sweet, white, and dark chocolate. It also offers a variety of ingredients, such as coffee, berries, and fresh mint. The real appeal for the company's product, however, is its custom labeling. Customers can order labels for special occasions (for example, wedding invitation labels) or busi- ness purposes (for example, business card labels). The company's balanced scorecard for 2017 follows. For brevity, the initiatives taken under each objective are omitted. Target Performance Performance Actual Objectives Financial Perspective Measures Increase shareholder value Operating-income changes from price recovery Operating-income changes from growth Cost savings due to reduced packaging size $1,000,000 $1,500,000 $200,000 $250,000 $40,000 $50,000 Customer Perspective Increase market share Market share of overall candy bar market 8% 7,8% Increase the number of new Number of new product offerings 7 product offerings Increase customer acquisitions due to sustainability efforts Percentage of new customers surveyed who required recycled paper options 35% 40% Internal-Business-Process Perspective Average design time Internal quality rating (10-point scale) Reduce time to customer 3 days 3 days Increase quality 7 points 8 points Increase use of recycled Recycled materials used as a percentage of total materials used materials 30% 32% Learning-and-Growth Perspective Increase number of professional chocolatiers Number of chocolatiers 6. Increase number of women and minorities in the workforce Percentage of women and minorities in the workforce 40% 38%
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