Balanced scorecard: Balanced scorecard can be defined as a scorecard used to measure business performance, based on four different perspectives. A balance scorecard helps managers to control or take care of the different aspects of the business effectively. The four perspectives are as follows. ► Customer perspective: Customer perspective is a part of balanced scorecard. It deals with the question as to “How customer sees us?” It measures those things that are related to delivering value to the customers. ► Internal process perspective: Internal process perspective deals with the internal matter of an organization. It deals with various internal matters that affect customer satisfaction in a negative way. It includes factors, such as employee skills and cycle time. ► Innovation and growth perspective: Innovation and growth perspective deals with the question as to “What will help the business to keep it running in the long-term?” It includes factors, such as innovation, competition, and new product. ► Financial perspective: Financial perspective deals with the question as to “How good we are to our shareholders?” It means how much income is generated for the shareholder. It includes factors such as profit margin and asset turnover. To show: How the company’s performance on hotel occupancy would appear on a balanced scorecard.

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Chapter 22, Problem 14QS

To determine

Balanced scorecard:

Balanced scorecard can be defined as a scorecard used to measure business performance, based on four different perspectives. A balance scorecard helps managers to control or take care of the different aspects of the business effectively. The four perspectives are as follows.

► Customer perspective: Customer perspective is a part of balanced scorecard. It deals with the question as to “How customer sees us?” It measures those things that are related to delivering value to the customers.

► Internal process perspective: Internal process perspective deals with the internal matter of an organization. It deals with various internal matters that affect customer satisfaction in a negative way. It includes factors, such as employee skills and cycle time.

► Innovation and growth perspective: Innovation and growth perspective deals with the question as to “What will help the business to keep it running in the long-term?” It includes factors, such as innovation, competition, and new product.

► Financial perspective: Financial perspective deals with the question as to “How good we are to our shareholders?” It means how much income is generated for the shareholder. It includes factors such as profit margin and asset turnover.

To show: How the company’s performance on hotel occupancy would appear on a balanced scorecard.

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