Balanced scorecard, social performance. Comtex Company provides cable and Internet services in the greater Boston area. There are many competitors that provide similar services. Comtex believes that the key to financial success is to offer a quality service at the lowest cost. Comtex currently spends a significant amount of hours on installation and post-installation support. This is one area that the company has targeted for cost reduction. Comtex’s balanced scorecard for 2017 follows in the attatched:Q. Why do you think Comtex included balanced scorecard measures relating to employee safety and community engagement? How well is the company doing on these measures? TargetPerformance PerformanceActualObjectivesFinancial PerspectiveMeasuresOperating-income changes fromproductivityIncrease shareholder value$2,400,000$800,000Operating-income changes fromgrowth$520,000$250,000Increase in revenue from newcustomer acquisition$50,000$24,000Customer PerspectiveIncrease customer satisfactionPositive customer survey70%65%responsesNew customers acquired throughcompany sponsoredcommunity eventsIncrease customer acquisition475350Internal-Business-Process PerspectiveDevelop innovative servicesResearch and developmentcosts as a percentageof revenue5%6%Increase installation efficiencyInstallation time per customer5 hours4.5 hoursIncrease community involvementNumber of new programs withcommunity organizationsNumber of employees injuredin the workplace1215Decrease workplace injuries<3Learning-and-Growth PerspectiveIncrease employee competenceNumber of annual training-hoursper employee1011Increase leadership skillsNumber of leadership workshopsoffered2Increase employee safetyPercent of employees who havecompleted safety cetificationtrainingawareness100%95%

Balanced scorecard: It is a tool to measure the performance that relates a company’s strategy to…

Answered: Target Performance Performance Actual…

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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Balanced scorecard, social performance. Comtex Company provides cable and Internet services in the greater Boston area. There are many competitors that provide similar services. Comtex believes that the key to financial success is to offer a quality service at the lowest cost. Comtex currently spends a significant amount of hours on installation and post-installation support. This is one area that the company has targeted for cost reduction. Comtex’s balanced scorecard for 2017 follows in the attatched:

Q. Why do you think Comtex included balanced scorecard measures relating to employee safety and community engagement? How well is the company doing on these measures?

Target
Performance Performance
Actual
Objectives
Financial Perspective
Measures
Operating-income changes from
productivity
Increase shareholder value
$2,400,000
$800,000
Operating-income changes from
growth
$520,000
$250,000
Increase in revenue from new
customer acquisition
$50,000
$24,000
Customer Perspective
Increase customer satisfaction
Positive customer survey
70%
65%
responses
New customers acquired through
company sponsored
community events
Increase customer acquisition
475
350
Internal-Business-Process Perspective
Develop innovative services
Research and development
costs as a percentage
of revenue
5%
6%
Increase installation efficiency
Installation time per customer
5 hours
4.5 hours
Increase community involvement
Number of new programs with
community organizations
Number of employees injured
in the workplace
12
15
Decrease workplace injuries
<3
Learning-and-Growth Perspective
Increase employee competence
Number of annual training-hours
per employee
10
11
Increase leadership skills
Number of leadership workshops
offered
2
Increase employee safety
Percent of employees who have
completed safety cetification
training
awareness
100%
95%

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