Coulson and Company is a large retail business that has a firm-wide balanced scorecard. Recently, management has discussed the need for the balanced scorecard to be more relevant to each individual department of the company. Specifically, management wants to come up with unique scorecards for its Public Relations and Inventory Management departments. For both departments, management recognizes that properly and efficiently training employees is important. For these purposes, management gathers data on the median training hours per employee and new employee performance review ratings. For the Inventory Management Department, management is focused on reducing stockouts (running out of certain inventory items) and keeping accurate inventory counts. For these purposes, the company tracks the number of back orders and discrepancies between the physical and record counts of inventory, respectively. For the Public Relations Department, management is focused on improving the public’s CSR image of the company and attracting new customers. Management measures these objectives using Forbes CSR Rating of Coulson and Company and the number of new customers, respectively. a. Identify a name that suits the scorecard of the public relation and inventory management departments. a. Unique scorecard b. Cascading scorecard c. Performance scorecard d. Improvement scorecard b. Identify the common metrics for both the departments in the new unique scorecards. a. Employee training hours and employee performance b. Number of back orders and discrepancies in physical and record counts c. CSR ratings for Forbes and number of new customers d. None of the above Identify the unique metrics of inventory management department. a. Employee training hours and employee performance b. Number of back orders and discrepancies in physical and record counts c. CSR ratings for Forbes and number of new customers d. None of the above Identify the unique metrics for the public relations department.
Coulson and Company is a large retail business that has a firm-wide balanced scorecard. Recently, management has discussed the need for the balanced scorecard to be more relevant to each individual department of the company. Specifically, management wants to come up with unique scorecards for its Public Relations and Inventory Management departments. For both departments, management recognizes that properly and efficiently training employees is important. For these purposes, management gathers data on the median training hours per employee and new employee performance review ratings. For the Inventory Management Department, management is focused on reducing stockouts (running out of certain inventory items) and keeping accurate inventory counts. For these purposes, the company tracks the number of back orders and discrepancies between the physical and record counts of inventory, respectively. For the Public Relations Department, management is focused on improving the public’s CSR image of the company and attracting new customers. Management measures these objectives using Forbes CSR Rating of Coulson and Company and the number of new customers, respectively.
a. Identify a name that suits the scorecard of the public relation and inventory management departments.
a. Unique scorecard
b. Cascading scorecard
c. Performance scorecard
d. Improvement scorecard
b. Identify the common metrics for both the departments in the new unique scorecards.
a. Employee training hours and employee performance
b. Number of back orders and discrepancies in physical and record counts
c. CSR ratings for Forbes and number of new customers
d. None of the above
Identify the unique metrics of inventory management department.
a. Employee training hours and employee performance
b. Number of back orders and discrepancies in physical and record counts
c. CSR ratings for Forbes and number of new customers
d. None of the above
Identify the unique metrics for the public relations department.
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