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- When the idea first occurred to her, it seemed like such a win-win situation. Now she wasn't so sure. Marge Brygay was a hardworking sales rep for Inspire Learning Corporation, a company intent on becoming the top educational software provider in five years. That newly adopted strategic goal translated into an ambitious, million-dollar sales target for each of Inspire's sales reps. At the beginning of the fiscal year, her share of the sales department's operational goal seemed entirely reasonable to Marge. She believed in Inspire's products. The company had developed innovative, highly regarded math, language, science, and social studies programs for the K— 12 market. What set the software apart was a foundation in truly cutting-edge research. Marge had seen for herself how Inspire programs could engage whole classrooms Of normally unmotivated kids; the significant rise in scores on those increasingly important standardized tests bore Out her subjective impressions. Bur now, just days before the end of the year, Marge's sales were $1,000 short of her million-dollar goal. The sale that would have put her comfortably over the top fell through due to last-minute cuts in one large school system's budget. At first, she was nearly overwhelmed with frustration, but then it occurred to her that if she contributed $1,000 to Central High, the inner-city high school in her territory probably most in need of what she had for sale, they could purchase the software and put her over the top. Her scheme would certainly benefit Central High students. Achieving her sales goal would make Inspire happy, and it wouldn't do her any harm, either professionally or financially. Making the goal would earn her a $10,000 bonus check that would come in handy when the time came to write out that first tuition check for her oldest child, who had just been accepted to a well-known, private university. Initially, it seemed like the perfect solution all the way around. The more she thought about it, however, the more it didn't quite sit well with her conscience. Time was running out. She needed to decide what to do. 1. Donate the $1,000 to Central High, and consider the $10,000 bonus a good return on your investment.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.Nametso Senwelo, founder of Sunflower Desserts, reviewed performance her business andobserved the following for the past financial years: High growth and low market share product offerings. She needs a lot of cash needs but is currently generating little cash She needs to increase the market shareGive Nametso advise on how to grow her company's market share and turn it into a "Star" usingthe BCG matrix.
- PLEASE ANSWER ALL OF THE FOLLOWING ITEMS TRUE OR FALSE 10. A Properly constructed Balanced Scorecard tells the story of a business unit’s strategy.11. Strategy is about selecting the set of activities in which the organization will excel to create asustainable difference in the marketplace.12. The vision and mission statement set the general direction for the organization.Which of the following is NOT true of a good balanced scorecard? a. It identifies all measures, whether significant or small, that help to implement strategy. b. It uses nonfinancial measures to serve as leading indicators of future financial performance. c. It helps to communicate corporate strategy to all members of the organization. d. It tells the story of a company's strategy by articulating a sequence of cause-and-effect relationships.Balanced Scorecard Maloney Corporation manufactures plastic water bottles. It plans to grow by producing high-quality water bottles at a low cost that are delivered in a timely manner. There are a number of other manufacturers who produce similar water bottles. Maloney believes that continuously improving its manufacturing processes and having satisfied employees are critical to implementing its strategy. Required: a. Please create a vision and mission for Maloneys that makes sense for them . b. Please identify, clearly and in your own words, what the Balanced Scorecard measures and its four perspectives . c. Please identify 3 key performance measure (applicable to Maloney Corporation), as well as their corresponding measures and targets, for each balanced scorecard perspective.
- Explain the “Balanced Scorecard” concept. In your own words, why is it important for managers to evaluate performance in more areas than just standard financial/accounting measures?The aim behind a balanced scorecard is to provide a comprehensive framework for translating acompany’s strategic objectives into a coherent set of performance measures. It allows managers tolook at the business from four (4) different perspectives.RequiredState and briefly explain the four different perspectives of the balance score cardThe balanced scorecard based on market share, employee commitment and alignment,core competencies, and customer satisfaction are some of the metrics that can be usedto measure Financial Perspective, Customer Perspective, Internal BusinessPerspective, Learning and Growth perspective what other metric can be used as ameasure for each from CASE ANALYSIS: Apple uses the scorecard as a device to plan long-term performanceAdjusting Long-Term Performance and give a few more ideas on how toapply the balanced scorecard.
- A balanced scorecard helps managers create (blank) , which can be used to build a strategy map, linking performance measures with operations in an organization. - value propositions - cause-effects relationship - behaviors - outputThe balanced scorecard is related to the strategy map in a way similar to howa. 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 reportingIn the context of a SWOT analysis, which of the following would be considered a weakness for an organization? a. Changes in the economy b. Competitors entering the market c. Sluggish growth of industry d. Lack of a strategic plan e. Changes in technology