Question

For each of the following businesses, what are four nonfinancial measures that might be useful for helping management evaluate the success of its strategies?

__ Grocery store

__ Hospital

__   Auto manufacturer

Law office

_   Coffee shop

__   Movie theater

YOUR TASKS

1.       YOU HAVE TO PICK UP ANY ONE BUSINESS FROM ABOVE AND DRAW UP A BALANCE SCORE CARD AS SHOWN BELOW.ANY EFFORT TO COPY FROM OTHER WORK WOULD RESULT IN CHEATING OUR OWN SELVES AND LIMITING GROWTH OF MIND. (5)

2.       YOU HAVE TO MAKE ATLEAST TWO COMMENTS ON BALANCE SCORE CARD MADE BY OTHERS IN THE DISCUSSION TRAIL.DO NOT CRITICISE BUT RATHER SUGGEST WAYS TO IMPROVE. (5)

Answer 1

Balnce score card is a combonation of both financial and non financial measures rating to critical success factors of a compnay assessing the startegic policy formulation and achivement.It helps the company in assessing the over all perfoemance of a company improving the operational efficency and develop better plan for improvement.

Components of balanced score card varises from business to business.

A well designed balanced score card combines financal measures of past performance with measures of firm's drivers of feature performances.

GROCERY STORES:

Performance measurment for each of non-financial perspectiveof balanced score card.

Non-Financial Measures:

Customer perspective:

Objective:

Incerasing the customer loyality

Retainig the existing Customers.

Performance measures:

Percentage of customers using the loyality cards

Number of discount vouchers redeemed.

Inetrnal business perspective:

Objective: For customer to pay goods in a reasonable period of time.

Provide necessary support to existing loyality customers.

Performance measures:

Time spend by the customer in Queing to for product at a checkout.

No. of time home deliveries made.