22 The central purpose of the balanced scorecard, including its use in performance appraisal, is to:...
22
The central purpose of the balanced scorecard, including its use in performance appraisal, is to:
| a. |
Improve internal business processes |
|
| b. |
Reduce waste and inefficiency |
|
| c. |
Maximize the employee's learning and growth |
|
| d. |
Create superior customer value and satisfaction |
Homework Answers
The answer is option “d” – create superior customer value and satisfaction.
The Balanced Scorecard is a strategic planning and management framework that enables a company to achieve its objectives. The four perspectives that are looked at are – financial, customer, processes, and learning and growth.
The Balanced Scorecard helps a company to focus on the true driver of its long term success which is nothing but creation of higher customer value and level of satisfaction.
Add Answer to:
22
The central purpose of the balanced scorecard, including its use
in performance appraisal, is to:...
Cardinal Corporation is preparing its balanced scorecard for the past quarter. The balanced scorecard contains four...
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...
Classify each of the following key performance indicators according to the balanced Scorecard perspective it addresses....
Classify each of the following key performance indicators according to the balanced Scorecard perspective it addresses. Choose from financial perspective, customer perspective, internal business perspective, or learning and growth perspective. Perspective Performance Indicator a. Variable cost per unit b. Percentage of market share c. Number of hours of employee training d. Number of new products developed e. Yield rate (number of units produced per hour) f. Average repair time g. Employee satisfaction h. Number of repeat customers Internal business perspective
6. Regarding global performance evaluation, Amazon prefers to use the “Balanced Scorecard" method. Fill in the...
6. Regarding global performance evaluation, Amazon prefers to use the “Balanced Scorecard" method. Fill in the table below. Why would this evaluation method be important for a globalized company like Amazon? How do we look to shareholders? Financial Perspective Goals: Measures: How do customers At what must we see us? excel? Customer Perspective Internal Business Goals: Vision and Perspective Measures: Strategy Goals: Measures: Innovation and Learning Perspective Goals: Measures: Can we continue to improve and create value?
CH 22 #5 Check my work 5 Exercise 22-16 Performance measures-balanced scorecard LO A3 1.42 points...
CH 22 #5
Check my work 5 Exercise 22-16 Performance measures-balanced scorecard LO A3 1.42 points USA Airlines uses the following performance measures. Classify each of the performance measures below into the most likely balanced Scorecard perspective it relates to. Select your answers using C(customer), P (internal process), / (innovation and growth), or F(financial). Skipped eBook Print 1. Percentage of late flights 2. Cost of leasing airplanes 3. Employee satisfaction survey ratings 4. Percentage of waste recycled 5. Number of...
1. What term is used to describe a set of performance targets and results that show...
1. What term is used to describe a set of performance targets and results that show how well an organization performed in meeting its objectives relating to its stakeholders? a. Business-level strategy b. Business model c. Mission statement d. Balanced scorecard e. None of these. 2. If cost per transaction is a measure used on the balanced scorecard, under which perspective would it be listed? a. Financial perspective b. Customer perspective c. Learning and growth perspective d. Internal business process...
41. The balanced scorecard is used to tie performance measures to which of the following? a. organizational...
41. The balanced scorecard is used to tie performance measures to which of the following? a. organizational goals. b. short-term objectives only. c. long-term objectives only. d. regulatory requirements. 42. Which of these is the perspective of the balanced scorecard that includes supplier relationships and outsourcing? a. financial perspective. b. internal business and production process perspective. c. learning and growth perspective. d. customer perspective. 43. Why do managers often have incentives for committing financial fraud? a. Bonuses, merit pay increases, and promotions...
True Coop Community Bank – A Balanced Scorecard Case True Coop Community Bank (TCCB) is located...
True Coop Community Bank – A Balanced Scorecard Case True Coop Community Bank (TCCB) is located in the Midwest US and has a total of 10 branches grouped into two divisions, the southern division (SD) and the northern division (ND). Each division consists of five branches; each branch employs a branch president, branch vice-president/chief loan officer, customer service representatives, loan representatives, mortgage loan originators, head tellers, tellers, and administrative assistants. All branches are located within a 60-mile radius. TCCB has...
Question 1 (15 marks) 1. Vic Corporation refines petrol and sells it through its own petrol...
Question 1 (15 marks) 1. Vic Corporation refines petrol and sells it through its own petrol gas stations. On the basis of market research, Vic Corporation determines that 60% of the overall petrol market consists of "service-oriented customers," medium- to high-income individuals who are willing to pay a higher price for gas if the gas stations can provide excellent customer service, such as a clean facility, a convenience store, friendly employees, a quick turnaround, the ability to pay by credit...
Vic Corporation refines petrol and sells it through its own petrol gas stations. On the basis...
Vic Corporation refines petrol and sells it through its own petrol gas stations. On the basis of market research, Vic Corporation determines that 60% of the overall petrol market consists of “service-oriented customers,” medium- to high-income individuals who are willing to pay a higher price for gas if the gas stations can provide excellent customer service, such as a clean facility, a convenience store, friendly employees, a quick turnaround, the ability to pay by credit card, and high-octane premium petrol....
1.Vic Corporation refines petrol and sells it through its own petrol gas stations. On the basis...
1.Vic Corporation refines petrol and sells it through its own petrol gas stations. On the basis of market research, Vic Corporation determines that 60% of the overall petrol market consists of “service-oriented customers,” medium- to high-income individuals who are willing to pay a higher price for gas if the gas stations can provide excellent customer service, such as a clean facility, a convenience store, friendly employees, a quick turnaround, the ability to pay by credit card, and high-octane premium petrol....
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...
Classify each of the following key performance indicators according to the balanced Scorecard perspective it addresses. Choose from financial perspective, customer perspective, internal business perspective, or learning and growth perspective. Perspective Performance Indicator a. Variable cost per unit b. Percentage of market share c. Number of hours of employee training d. Number of new products developed e. Yield rate (number of units produced per hour) f. Average repair time g. Employee satisfaction h. Number of repeat customers Internal business perspective
6. Regarding global performance evaluation, Amazon prefers to use the “Balanced Scorecard" method. Fill in the table below. Why would this evaluation method be important for a globalized company like Amazon? How do we look to shareholders? Financial Perspective Goals: Measures: How do customers At what must we see us? excel? Customer Perspective Internal Business Goals: Vision and Perspective Measures: Strategy Goals: Measures: Innovation and Learning Perspective Goals: Measures: Can we continue to improve and create value?
CH 22 #5
Check my work 5 Exercise 22-16 Performance measures-balanced scorecard LO A3 1.42 points USA Airlines uses the following performance measures. Classify each of the performance measures below into the most likely balanced Scorecard perspective it relates to. Select your answers using C(customer), P (internal process), / (innovation and growth), or F(financial). Skipped eBook Print 1. Percentage of late flights 2. Cost of leasing airplanes 3. Employee satisfaction survey ratings 4. Percentage of waste recycled 5. Number of...
Question 1 (15 marks) 1. Vic Corporation refines petrol and sells it through its own petrol gas stations. On the basis of market research, Vic Corporation determines that 60% of the overall petrol market consists of "service-oriented customers," medium- to high-income individuals who are willing to pay a higher price for gas if the gas stations can provide excellent customer service, such as a clean facility, a convenience store, friendly employees, a quick turnaround, the ability to pay by credit...
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