Managerial Accounting
17th Edition
ISBN: 9781260247787
Author: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Publisher: RENT MCG
expand_more
expand_more
format_list_bulleted
Question
Chapter 12, Problem 10E
To determine
Introduction:
A balanced scorecard contains a set of financial and non-financial measures that relates to critical success factor. It helps the companies to assess the overall performance and improvement of the operation process.
To prepare: A worksheet indicating whether each given item focused on operational excellence, product leadership, or customer intimacy and to explain the same.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Question 5.1
For each of the following balanced scorecard measures,
A – Financial
B – Customer
C – Internal Business Process
D – Learning and Growth
Required
Match with the appropriate perspective:
Number of new customers
Percentage of defective product units
Number of patents
Customer profitability
Customer cost per unit
Return on assets
Average job-related training hours per employee
Product cost per unit
Employee turnover rate
Percentage of processes with real-time feedback
Problem #13: Balanced Scorecard
a. List the four areas of a balanced scorecard. Describe each area clearly and concisely.
b. Define a KPI
c. Pick a real world company and give an example of a KPI for each balanced scorecard area for that company.
29
To analyse the employee growth and turnover which perceptive of balanced scorecard should be applied by the company.
a.
Internal business processes
b.
learning and growth perceptive
c.
Customers perceptive
d.
Financial perceptive
Chapter 12 Solutions
Managerial Accounting
Ch. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - Prob. 4QCh. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Prob. 9QCh. 12 - Prob. 10Q
Ch. 12 - Prob. 1AECh. 12 - Prob. 2AECh. 12 - Prob. 1ECh. 12 - Prob. 2ECh. 12 - Prob. 3ECh. 12 - Prob. 4ECh. 12 - Prob. 5ECh. 12 - Prob. 6ECh. 12 - Prob. 7ECh. 12 - Prob. 8ECh. 12 - Prob. 9ECh. 12 - Prob. 10ECh. 12 - Prob. 11ECh. 12 - Prob. 12PCh. 12 - Prob. 13PCh. 12 - Prob. 14PCh. 12 - Prob. 15PCh. 12 - Prob. 16PCh. 12 - Prob. 17PCh. 12 - Prob. 18PCh. 12 - Prob. 19PCh. 12 - Prob. 20PCh. 12 - Prob. 21C
Knowledge Booster
Similar questions
- (Appendix 11A) Balanced Scorecard The following list gives a number of measures associated with the Balanced Scorecard: a. Number of new customers b. Percentage of customer complaints resolved with one contact c. Unit product cost d. Cost per distribution channel e. Suggestions per employee f. Warranty repair costs g. Consumer satisfaction (from surveys) h. Cycle time for solving a customer problem i. Strategic job coverage ratio j. On-time delivery percentage k. Percentage of revenues from new products Required: 1. Classify each performance measure as belonging to one of the following perspectives: financial, customer, internal business process, or learning and growth. 2. Suggest an additional measure for each of the four perspectives.arrow_forwardQUESTION 9 Analytical CRM can calculate the Customer Lifetime Value (CLTV), which is: the prediction of the net-profit attributed to the entire future relationship with a customer O a tool to assess partners' performances. sales prospect and contact information, sales quote generation capabilities. capturing prospect and customer data, scheduling and tracking direct-marketing mailings or email, and cross selling.arrow_forwardProblem #13: Balanced Scorecard a. b. Define a KPI c. Pick a real world company and give an example of a KPI for each balanced scorecard area for that company.arrow_forward
- Q Canarsie Corporation uses a balanced scorecard to evaluate its digital camera manufacturing operation. Which of the following statements with respect to balanced scorecards is/are correct? I. A balanced scorecard reports management information regarding organizational performance in achieving goals classified by critical success factors to demonstrate that no single dimension of organizational performance can be relied upon to evaluate success. II. Performance measures used in a balanced scorecard tend to be divided into financial, customer, internal business process, and learning and growth. III. In a balanced scorecard, internal business processes are what the company does in its attempts to satisfy customers. 1. I and II only are correct. 2. II and III only are correct. 3. III only is correct. 4. I, II, and III are correctarrow_forward2-30 The balanced scorecard is related to the strategy map in a way similar to how a. the value chain is related to product differentiation. b. SWOT analysis is related to execution. c. the organization's key activities are related to the value chain. d. sustainability can be related to financial reporting. 2-31 A company taking a strategic and customer-centered point of view can best address sustainability, a concern for environmental and social as well as economic performance, through a. annual financial reporting to the Securities and Exchange Commission. b. the use of a sustainability perspective in the balanced scorecard. c. reporting violations of a company's human resources policy to the proper authorities. d. lobbying in Congress for stronger environmental regulations. Page 57 [LO 2-4 O] 2-32 The implementation of the balanced scorecard (BSC) can involve all of the following except a. the strong support of top management. b. a strategy of differentiation (as opposed to one of…arrow_forward(Appendix 11A) Which of the following is a perspective of the Balanced Scorecard? a. Learning and growth (infrastructure) b. Internal business process c. Customer d. Financial e. All of these.arrow_forward
- Compare and contrast short- and long-term goals for a company. Give an example of each, and explain why they are important for performance measurement systems.arrow_forwardClassify each of the following performance measures into the balanced scorecard perspective to which it relates: financial perspective, internal operations perspective, learning and growth perspective, or customer perspective. A. Number of improved products B. Time from packaging to delivery or display C. Production costs D. Number of customer suggestions E. Sales mix revenues F. Number of repeat customersarrow_forwardBalanced scorecard American Express Company (AXP) is a major financial services company, noted for its American Express card. Below are some of the performance measures used by the company in its balanced scorecard. For each measure, identify whether the measure best fits the innovation, customer, internal process, or financial dimension of the balanced scorecard.arrow_forward
- Describing the balanced scorecard and identifying key performance indicators for each perspective Consider the following key performance indicators, and classify each indicator according to the balanced scorecard perspective it addresses. Choose from the financial perspective, customer perspective, internal business perspective, and the learning and growth perspective. a. Number of customer complaints b. Number of information system upgrades completed c. Residual income d. New product development time e. Employee turnover rate f. Percentage of products with online help manuals g. Customer retention h. Percentage of compensation based on performance i. Percentage of orders filled each week j. Gross margin growth k. Number of new patents l. Employee satisfaction ratings m. Manufacturing cycle time (average length of production process) n. Earnings growth o. Average machine setup time p. Number of new customers q. Employee promotion rate r. Cash flow from operations s. Customer…arrow_forwardDescribing the balanced scorecard and identifying key performance indicators for each perspective Consider the following key performance indicators, and classify each according to the balanced scorecard perspective it addresses. Choose from financial perspective, customer perspective, internal business perspective, or learning and growth perspective. a. Number of employee suggestions implemented b. Revenue growth c. Number of on-time deliveries d. Percentage of sales force with access to real-time inventory levels e. Customer satisfaction ratings f. Number of defects found during manufacturing g. Number of warranty claims h. Return on investment i. Variable cost per unit j. Percentage of market share k. Number of hours of employee training l. Number of new products developed m. Yield rate (number of units produced per hour) n. Average repair time o. Employee satisfaction p. Number of repeat customersarrow_forward23 Balanced scorecard perspective focuses on all operations which lead to value creation process for customers that is customer relationship management is to evaluate_________________. a. Learning perceptive b. Internal business process perceptive c. Customer perceptive d. External business perceptivearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Accounting (Text Only)AccountingISBN:9781285743615Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning
Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
Financial And Managerial AccountingAccountingISBN:9781337902663Author:WARREN, Carl S.Publisher:Cengage Learning,
Survey of Accounting (Accounting I)AccountingISBN:9781305961883Author:Carl WarrenPublisher:Cengage Learning
Financial & Managerial AccountingAccountingISBN:9781337119207Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage Learning
Accounting (Text Only)
Accounting
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Cengage Learning
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:Cengage Learning,
Survey of Accounting (Accounting I)
Accounting
ISBN:9781305961883
Author:Carl Warren
Publisher:Cengage Learning
Financial & Managerial Accounting
Accounting
ISBN:9781337119207
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser...
Accounting
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Cengage Learning