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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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(Appendix 11A) Balanced Scorecard

The following list gives a number of measures associated with the Balanced Scorecard:

  1. a. Number of new customers
  2. b. Percentage of customer complaints resolved with one contact
  3. c. Unit product cost
  4. d. Cost per distribution channel
  5. e. Suggestions per employee
  6. f. Warranty repair costs
  7. g. Consumer satisfaction (from surveys)
  8. h. Cycle time for solving a customer problem
  9. i. Strategic job coverage ratio
  10. j. On-time delivery percentage
  11. k. Percentage of revenues from new products

Required:

  1. 1. Classify each performance measure as belonging to one of the following perspectives: financial, customer, internal business process, or learning and growth.
  2. 2. Suggest an additional measure for each of the four perspectives.

1.

To determine

Match each performance measure as one of the perspectives.

Explanation

Balanced Scorecard:

Balanced scorecard means the system of strategic management which converts the strategy and mission of an organization into performance measures and operational objectives.

There are four perspectives which are as follows:

Financial perspective: It defines the economic outcome of the actions considered in other perspectives.

Customer perspective: It states the market segments and consumer segments in which the business will operate.

Internal business process perspective: It defines the internal process of the business required to offer value to the owners and customers.

Learning and growth perspective: It states the abilities of the organization to develop long-term improvement and growth.

The following table represents the classification of performance measure:

 Performance MeasurePerspective
a.Number of new customersCustomer perspective
b...

2.

To determine

Recommend an additional measure for each perspective.

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