The implementation of the balanced scorecard (BSC) can involve all of the following except:
Answer:
The implementation of the balanced scorecard (BSC) can involve all of the following except..
A strategy of differentiation (as opposed to one of cost leadership).
One of the signature features of the balanced scorecard is that it looks at organisational performance from various perspectives.
The four perspectives of a traditional balanced scorecard are financial, customer, internal processes, learning and growth.
The implementation of the balanced scorecard (BSC) can involve all of the following except:
Which of the following statements about the Balanced Scorecard is true? a. An effective balanced scorecard will create a strategy map and validate the cause-and-effect relationships between measures in the four perspectives and financial outcomes. b. The four balanced scorecard ‘perspectives’ used by all companies are the: operational, investing, financing, and customer perspectives. c. A balanced scorecard is commonly used to evaluate investment decisions.
Which of the following statements is true of successfully implementing a balanced scorecard? A) External auditors should design and implement the balanced scorecard. B) Balanced scorecard should never be communicated to all employees. C) Balanced scorecard should be formed exclusively by top management. D) Management accountants should determine the balanced scorecard measures.
PO 7. What is a Balanced Scorecard? In what ways is it a means of focusing attention on strategy implementation? strategis implementatie
Which of the following is not correct about the balanced scorecard? A) profits and value created for shareholders are perspectives revealed on a balance scorecard B) nonfinancial and operational indicators are reported on a balance scorecard C) the balanced scorecard reveals information about the success of the company in its target market D) the balance scorecard increases managements emphasis on short-term results
Cardinal Corporation is preparing its balanced scorecard for the past quarter. The balanced scorecard contains four perspectives: financial, customer, internal business process, and learning and growth. Cardinal Corporation Balanced Scorecard Report For Quarter Ended December 31 Perspective: Goal Objective KPI Goal Actual Achieved? Financial: Customer: Through its strategic management planning process, CardinalCardinal Corporation has selected two specific objectives for each of the four perspectives; these specific objectives are listed in the following table. Specific Objective 1. Increase sales of...
Discuss what problems and challenges can contribute to a poorly functioning balanced scorecard?
Why can a balanced scorecard help you determine your strengths and weaknesses?
Review the information in Chapter 5 on The Balanced Scorecard. Create a balanced scorecard that would be appropriate for your company chosen in the first workshop. Look at your company’s web page for a mission or vision statement. For your company, answer the following questions: How do customers view us? How do we create value? What core competencies do we need? How do shareholders or stakeholders view us? Be sure the entry is grammatically correct, 400 – 600 words in...
The report must cover the following key points: a) A description of your company. b) Calculation of Return on Investment (using net profit divided by total assets) and a discussion of the ways to improve ROI. c) A description of the Balanced Scorecard (BSC) and its key components. d) A description of the ways the implementation of the BSC can improve the competitive advantage(s) of your company. e) A discussion and conclusion of the overall suitability of BSC to your...
The process of using the balanced scorecard to implement strategy begins with a clear understanding of the organization's vision, mission and strategy. Consider United Parcel Service and its lack of customer focus strategy before implementing, do believe UPS and its customers derived benefits from the implementation? Why or why not?