OM (with OM Online, 1 term (6 months) Printed Access Card)
6th Edition
ISBN: 9781305664791
Author: David Alan Collier, James R. Evans
Publisher: Cengage Learning
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Chapter 2, Problem 15PA
(a)
Summary Introduction
Interpretation:The process of creating the initial balanced scorecard.
Concept Introduction:The balanced scorecard is a management tool that has gained much popularity since it was introduced by a much known consultant back in the 1980’s. Organizations at the time were following the practice of looking only into financial data in determining the strategy to be followed in moving ahead. The tool came up with four areas, commonly known as the perspectives of the balanced scorecard that focuses on other important as well. The four perspectives are financial, customer, internal processes and learning and growth.
(b)
Summary Introduction
Interpretation:The steps to be followed by an organization in building a good balanced scorecard.
Concept Introduction:Among the many popular management tools used by organizations of the day, balanced scorecard is key. It has gained much popularity as it pays a comprehensive focus on financial as well as non-financial elements in deciding an organizations strategic priorities and objective. The four main focus areas of the scorecard are financial, customer, internal processes and learning and growth. These areas are commonly known as the four perspectives of the balanced scorecard.
(c)
Summary Introduction
Interpretation:Reasons for balanced scorecards failing at times.
Concept Introduction:
Balanced scorecard, a much popular management tool that is being used by many organizations around the goal is much helpful in clarifying and communicating the strategic priorities and objectives of a business. This is done via looking at financial as well as non-financial measures that directly link to the organizational strategy. These measures include the financial perspective, the customer perspective, internal processes perspective and learning and growth perspective. Although it is much useful in determining the future direction of a firm, some firms fail in implementing and taking ahead the mechanism due to many reasons.
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Students have asked these similar questions
1) View the video Service Processing at BuyCostumes (10.41 minutes, Ctrl+Click on the link); what are your key takeaways (tie to one or more of the topics discussed in Chapter 3) after watching this video. (viddler.com/embed/a6b7054c)
Note: As a rough guideline, please try to keep the written submission to one or two paragraphs.
2) Orkhon Foods makes hand-held pies (among other products). The firm’s weekly sales of hand-held pies over the past seven weeks are given in the table. The firm’s operations manager, Amarjargal, wants to forecast sales for week 8.
Weeks
Sales of hand-held pies(000s)
1
19
2
18
3
17
4
20
5
18
6
22
7
20
Forecast the week 8 sales using the following approaches:
a) Naïve approach
b) 5-month moving average
c) 3-month weighted moving average using the following weights: 0.50 for week 7, 0.30 for week 6, and 0.20 for week 5.
d) Exponential smoothing using a smoothing constant of 0.30, assume a week 2…
What area of emotional intelligence refers to the ability to manage your emotions, particularly in stressful situations, and maintain a positive outlook despite setbacks?
relationship management
self awareness
social awareness
self management
What area of emotional intelligence refers to the ability to manage your emotions, particularly in stressful situations, and maintain a positive outlook despite setbacks?
relationship management
self awareness
social awareness
self management
Chapter 2 Solutions
OM (with OM Online, 1 term (6 months) Printed Access Card)
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