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In a balanced scorecard, a key strategic if-then statement is provided: if the number of defective units decreases, then market share will increase. Assume that the targeted reduction level of defective units was achieved but that the targeted market share increase was not achieved. Which statement best describes this outcome? a. The company has not successfully implemented its strategic plan. b. Single-loop feedback is needed. c. The hypothesized relationship is somehow invalid. d. Corrective action must be taken so that the strategy can be executed as intended.
Cornerstones of Cost Management (C...
Solutions
Cornerstones of Cost Management (C...
In a balanced scorecard, a key strategic if-then statement is provided: if the number of defective units decreases, then market share will increase. Assume that the targeted reduction level of defective units was achieved but that the targeted market share increase was not achieved. Which statement best describes this outcome?
- a. The company has not successfully implemented its strategic plan.
- b. Single-loop feedback is needed.
- c. The hypothesized relationship is somehow invalid.
- d. Corrective action must be taken so that the strategy can be executed as intended.
Identify the statement that best describes the outcome.
Explanation of Solution
Cause-and-effect relationship: Cause-and-effect relationship are the means through which lag and lead variables are integrated and simultaneously serve as the tool for expressing and disclosing the strategy of the firm.
Justification for the incorrect option a:
Implementation of the strategic plan comes under strategic alignment. Therefore, it is an incorrect option.
Justification for the incorrect option b:
Single-loop feedback concentrates on the effectiveness of implementation and it gives emphasis to actual results that are deviating from the desired results. Therefore, it is an incorrect option...
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