MANAGERIAL ACCOUNTING
17th Edition
ISBN: 9781266397820
Author: Garrison
Publisher: MCG
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Question
Chapter 12, Problem 1E
To determine
Introduction:
A balanced scorecard is a structured report that helps managers in tracking the execution of activities by the staff working under them. It also assists in monitoring the results arising from such activities.
To classify: Items into the four categories of balanced scorecard performance measures.
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Students have asked these similar questions
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.
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 correct
23
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 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
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Similar questions
- (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_forwardInstructions 1.Based on the balanced scorecard and the following descriptions of the predicted relationships between strategic objectives, draw the scorecards strategy map. a.Training employees effectively and reducing employee turnover can both be expected to improve returns processing and reduce shipping errors. b.Both improving returns processing and reducing shipping errors can be expected to delight the customer. c.Delighting the customer can be expected to increase market share. 2.Based on the balanced scorecard and the following descriptions of the predicted relationships between performance metrics, draw the scorecards measure map. a.Median training hours per employee and average employee tenure will both influence hours from returned to refunded and number of erroneous shipments. b.Both hours from returned to refunded and number of erroneous shipments will affect percentage of customers who shop again and online customer satisfaction rating. c.Both percentage of customers who shop again and online customer satisfaction rating will influence the companys market share. 3.Label each element of the balanced scorecard.arrow_forward(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_forward
- 2-30 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_forward29 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 perceptivearrow_forwardPLEASE ANSWER ALL OF THE ITEMS TRUE OR FALSE 13. To create the Balanced Scorecard, first measures are identified and then translated into objectives.14. One valuable measure for the customer perspective of the Balanced Scorecard is market share.15. The learning and growth perspective of the Balanced Scorecard evaluates the profitability of the strategy.arrow_forward
- Jalancu Juviai u The following are a number of measures associated with the Balanced Scorecard. Required: 1. Classify each performance measure as belonging to one of the following perspectives: financial, customer, internal business process, or learning and growth. 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 Consumer satisfaction (from surveys) Cycle time for solving a customer problem Strategic job coverage ratio j. On-time delivery percentage k. Percentage of revenues from new products 2. Select an additional measure that would be appropriate for each of the four perspectives. Contribution margin by product ▾ Number of complaints Number of accidents per month Hours of continuing education provided per month g. h. i. Financial Customer Customer Internal business process Financial Financial Learning and growth Learning and growth…arrow_forwardQuestion 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 feedbackarrow_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
- E Essay Tips: How to Paraphrase a * PlayStation 5 Console - Walmart x aystation 5-antonline.co x /7355/quizzes/38887/take O works to achieve goal congruence O supports the use of expert knowledge 1 pts Question 3 The performance evaluation system should provide incentives to segment managers for coordinating the activities of the subunits and directing them toward the overall company goals. Which of the following performance measurement goals has been described by this statement? O motivating segment managers O promoting goal congruence O providing feedback O benchmarking Question 4 Uniox, Inc. intends to increase its profits by 50% in the next fiscal year. Which of the following is most likely be a lag indicator in Uniox's performance renort?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_forwardReid Company would like to implement a balanced scorecard performance measurement system. Its senior management team has assembled the measures shown below for possible inclusion in its scorecard. Required: For each measure, indicate by placing an X in the appropriate column whether it would most likely be classified in the learning and growth, internal business process, customer, or financial category of the company's balanced scorecard. Learning & Growth Internal Business Process Item Customer Financial Ex. Employee absenteeism rate X 1. Sales from new customers 2. Customer defection rate 3. Average fuel cost per sales dollar 4. Average number of workplace accidents per employee 5. Delivery cycle time 6. Average training hours per employee 7. Number of job applicants from under-represented groups Percent of customers that strongly agree with the statement 8. "Your employees treated me courteously." 9. Return on assets Percent of customers that strongly agree with the statement "Your…arrow_forward
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