Gscm 588 Final Exam Essay

1959 Words May 21st, 2015 8 Pages
1. (TCO B) Identify four categories of measures that might constitute a Balanced Scorecard of performance measures and provide an example of each. Also explain how a Balanced Scorecard could assist your organization. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable. (Points : 30)

Some categories of measures of balance scorecard are:

1.-Measures Financial Performance

Financial performance measures includes:
Profitability such as ROI (return on investment), gross profit margin, asset turnover, etc
Liquidity such as current ratio, quick ratio

Financial performance measures, such as operating income and return on investment, indicate whether the company’s strategy
…show more content…
Balanced scorecard is a methodological tool that businesses use to get a measure by which someone can determine whether the set goals have been met or exceeded. It adds non-financial metrics to traditional financial metrics to give a well-rounded view of the performance in an organization. Balanced scorecards also help organizations to predict their success in meeting their overall strategic goals. |

Question 2. 2. (TCO G) Explain the concept of the cost of quality model and then link your explanation to how quality can be defined by organizations. What are some advantages and disadvantages of the cost of quality model? This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable. (Points : 30) |

As I said on the thread discussion,The cost of quality is not the price of creating a quality product or service but the cost of not creating a quality product or service:If an organization can quantify the quality of their products and services, they can use Quality is conformance to requirements as a definition for quality. If an organization cannot quantify, they can use Quality is satisfying the needs and…

More about Gscm 588 Final Exam Essay