Midwest Manufacturing uses a balanced scorecard as part of its performance evaluation. The company wants to incl on its sustainability efforts in its balanced scorecard. For each performance measure below, indicate the most likely E scorecard perspective it relates to: customer, internal process, innovation and learning, or financial Customer feedba
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
- The SCORE framework espoused in the article entitled "The Board's Role in Sustainability" recommends each of the following to achieve board-of-director buy-in of a company's sustainability initiatives, except: articulating a simple and clear statement of purpose. taking "ownership" of the company's stated purpose. basing compensation systems on metrics that reflect purpose, not just profits recognizing that ultimately the firm has a fiduciary responsibility to put shareholders' interests above all others.87) Which of the following is not one of the strategic measures used in the Balanced Scorecard? a) Compliance perspective b) Customer’s perspective. c) Internal business perspective d) Innovation and leaning perspectiveNonfinancial (Operational) Control Measures: Environmental Performance Assumethat the company for which you are working is interested in implementing a comprehensivemonitoring and control system regarding environmental performance. The company is convinced that improved performance in this area will lead to reduced costs, an improved corporate image, greater market share, and ultimately to greater financial returns. To supplement anumber of financial performance indicators in the area of environmental quality, the companyis interested in developing a set of nonfinancial performance indicators, which (it is hoped) willmotivate better environmental quality. In this regard, the company has embraced five strategic objectives: minimize hazardous materials, minimize raw/virgin materials usage, minimizeenergy requirements, minimize release of residues into the environment, and maximize opportunities to recycle.RequiredFor each of the five strategic objectives referenced above, provide at…
- Sadler (1996) and others determined there were four types of effectiveness in Sustainability Assessment. Explain the main elements of each of these three types of effectiveness. Using any example you care to consider, discuss why a good SA process does not necessarily produce good outcomes.Balanced scorecardCostco Wholesale Corporation (COST) operates membership warehouses throughout the United States and the world. Fifteen Costco metrics and recent initiatives are as follows1. Increasing same store sales2. Improving safety procedures for warehouse prepared foods3. Reducing the number of product returns4. Researching consumer preferences5. Increasing the number of warehouses with gas pumps6. Offering training programs for all new employees7. Offering awards for employees with more the five years of service8. Improving Costco online consumer experience9. Increasing gross profit percentage10. Changing containers from square to round to increase the number of containers that can be shipped on a pallet11. Developing a company-owned coffee roasting operation12. Using floor-ready packaging from suppliers13. Reducing warehouse energy usage for floor lighting14. Increasing the use of automation to increase efficiencies15. Increasing the average revenue per memberAssign each item…1)Hatil furniture sells wooden furniture to its customers, If it wants to maintain its product quality, what costs should it incur? Explain with proper examples. 2)What would be your suggestions to improve their product quality continuously?
- A Food Processing company has proposed you as a management consultant. The firm seeks to implement the balanced scorecard tool in an attempt to monitor performance.The management has no idea about the balanced scorecard model and has approached you for guidance regarding the approach to implement it and the challenge such a model presents.a) Describe the balanced scorecard. b) Explain the steps that a company can take in designing and implementing the balanced scorecard.Marketing Management Discuss the following:How do you understand QUALITY? Customer Satisfaction? Provide practical examples ofeach.Service Quality is an important concept in service marketing. with regard to service quality measurement models / frameworks, however, extant research shows that there is no consensus on the appropriate measurement model. Provide motivation for this and perform an appraisal of any four service quality measurement models/ frameworks highlighting their distinctive features, streangths and weaknesses as well as which service context each one may be applicable. provide a report to management of any chosen firm on these issues.