Explain in your own words the advantages of “Balanced scorecard” as a strategy performance management tool or a structured report that can be used by managers to keep track of the execution of strategies.
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Explain in your own words the advantages of “Balanced scorecard” as a strategy performance management tool or a structured report that can be used by managers to keep track of the execution of strategies.
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- 24.An example of an outcome measure of learning and growth is: a.Percentage of employees participating in education activities b.Output per employee c.Average life cycle of personal computers owned by the company 26. Which of the following is not true of the balanced scorecard approach to performance measurement? a. It includes financial and nonfinancial measures b.The planning horizon focus is very short term c.It should include measures of financial, customer, internal process, and learning and growth activitiesYou have been requested by your boss to provide a regression analysis. Upon presentation your boss is unhappy with your work. You are instructed to do more work and return when you have lower cost estimates for labor hours. Your initial analysis covered a 3 year period and by dropping 3 of months from the middle of the analysis period you are able to reduce labor hours to a “boss acceptable” amount. Did you do something unethical?Some of the major decisions management must take concern the behavior of sales, costs and profits under varying conditions. For effective planning and control it is important that management should be aware of any relationship which exists between sales, costs and profits for changing levels of activity. Management makes use of the information provided by the accounting system to plan and control future operations. The information, to be meaningful, must be provided and presented in such a way that it will appeal to management. Break even analysis and Cost-Volume- profit-Analysis are some of the ways in which information concerning sales, costs and profits relationship is presented to management in a clear and appealing form Required: a). Discuss how break even analysis can aid management in decision making b). Discuss the practical difficulties associated with the…
- Manny is the Marketing Director for a children’s clothing line. He recently met with his boss, the Chief Marketing Officer, who walked him through the company’s new five-year strategic plan and the specific goals for his department. To evaluate whether goals were met, Manny must develop a list of “success metrics” and measure those throughout the course of the year and develop remediation plans if goals get off track. Manny’s work is an example of which of the functions of management? a. Controllingb. Leadingc. Organizingd. Planninge. None of the aboveThe balanced scorecard (BSC), originated by Kaplan and Norton, represents a technique used in the strategic management of firms. Based on the literature, discuss how a balanced scorecard is used in a company or an industry. You also need to highlight the advantages and disadvantages of the balanced scorecard. State the references.1) S1: A Strategy Map is a useful tool that graphically illustrates the cause-and-effect relationships and connects the Balanced Scorecard strategy with an organization’s operating activities. S2: In order for the balanced scorecard to succeed, the entire organization must be behind it. Only S1 is correct Both statements are correct Both statements are incorrect Only S1 is incorrect 2) S1: To link measures to a strategy, they must be derived from management and be balanced. S2: The primary purpose of the balanced scorecard is obtaining increased operating profits for the current year. Both statements are incorrect Only S1 is correct Both statements are correct Only S1 is incorrect
- You are asked to perform a study about the effect of the weather on software developer’s productivity (if any). The study is for a company called MySoftware which gave you access to all data you need to perform the study. They aim at relocating if they find an effect of the weather on their engineers. 1. Use the “Goal-Question-Metric” (GQM) approach to set up the study. derive a minimum of one objective, the associated question, and suitable metrics. The metrics and questions showed be mapped to each other. That is, after each question, state the metric(s) that you suggest to answer the question DB RESPONSE: When you reply to other peers’ posts, comment on whether their metrics are measurable, hard or easy to measure, or costly. Your discussion does not have to be "perfect", but it must be yours. Please check the Discussion Board grading rubric.Please help with correct answers! Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 9 13 B Web scraping 5 10 12 C Testing A, B 1 1 1 a) Based solely on the critical path, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.) b) Using all paths through the project network, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.)What are the differences between bottom-up and top-down estimating approaches? Determine advantages and disadvantages for using each approach. Under what conditions would you prefer one over the other? Provide a specific example to support your response.
- How can you use the balanced scorecard to your advantage in the strategic control process?Anne Hathawayy is a data analyst at a marketing company who is responsible for providing support to the reporting functions of an internal management support system. Which of the following is not true regarding designing a management support system? -Do not be consistent with reports and visualizations -Clearly define objectives -Make it fast -Identify what upper management needsThere are downsides to using a strategy based on data modeling.