1.
Concept introduction:
Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.
A balanced scorecard for H Department Store.
2.
Concept introduction:
Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.
To explain: Certain measures of performance show improvement while others do not and suggest the steps that management can take in such circumstances.
3.
a.
Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers, and finance.
To explain: The improvement in customer satisfaction with regards to the accuracy of their charge account bills does not lead to any improvement in the average age of
3.
b.
Balanced scorecard: A balanced scorecard is a tool of strategic planning which transforms the vision and goals of an organization into a set of performance benchmarks that are applied to assess the performance, and thus determine if goals are being fulfilled or not. The balanced scorecard involves assessing four main aspects of the organization which are learning and growth, internal processes, customers and finance.
To explain: The total profits do not increase in spite of improvement in the performance measures relating to bad debts, unsold inventory, and average accounts receivable.
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