Question

In: Accounting

Imagine what the balanced scorecard of a supermarket chain could be like. Focus on the customer...

Imagine what the balanced scorecard of a supermarket chain could be like. Focus on the customer as well as learning and growth perspectives. Write two objectives that a supermarket chain would be likely to set for the customer perspective and also for the learning and growth perspective and add a possible measure to each objective.

Solutions

Expert Solution

BALANCED SCORECARD

The balanced scorecard is a strategic planning and management system that organisations use to communicate what they are trying to accomplish . Alining the day to day work that everyone is doing with strategy. The balanced scorecard gives companies a simple tool that shows them specific financial and non financial indicators. The objective is to focus simultaneously on financial information and on creating the abilities and intangible assets required for long term growth.

PROSPECTIVES IN BALANCED SCORECARD

1 financial prospective

2 customer prospective

3 internal business process prospective

4 learning and growth prospective

OBJECTIVE AND THEIR MEASUREMENTS UNDER CUSTOMER PROSPECTIVE AND LEARNING AND GROWTH PROSPECTIVE

The following are the objectives and their measures in both customer prospective and learning and growth prospective

1 customer satisfaction ( objective )

Customer satisfaction can be measured by customer return , complaints, surveys

2 new products ( objective )

New products can be measured by new patents, number of design changes, research and development skill

3 customer retention ( objective )

Customer retention can be measured by percentage growth with existing customers, customer retention by category

4 motivation, empowerment ( objective)

Motivation and empowerment can be measured by suggestions per employee , suggestions implemented

5 competence ( objective )

Competence can be measured by employee turnover, experience, customer satisfaction

6 customer acquisition ( objective )

Customer acquisition can be measured by number of new customers , total sales to new customers

The above are the detailed explanation, objective and their measurements

If you are get the desired results PLEASE LIKE THE ANSWER


Related Solutions

Imagine what the balanced scorecard of a supermarket chain could be like. Focus on the customer...
Imagine what the balanced scorecard of a supermarket chain could be like. Focus on the customer and internal processes perspectives. Write two objectives that a supermarket chain would be likely to set for both the customer and internal processes perspective and add a possible measure to each objective.
On a balanced scorecard, each of the following is an example of the customer perspective measure...
On a balanced scorecard, each of the following is an example of the customer perspective measure except A. Number of customer complaints. B. Time taken to fulfill orders. C. Customer retention. D. Economic value-added.
a. Define the Balanced Scorecard! b. What are the four major parts of a balanced scorecard?
a.     Define the Balanced Scorecard!b.     What are the four major parts of a balanced scorecard?c.      How are these parts needed in logistics strategies?
What is a balanced scorecard? Does every company need to utilize a balanced scorecard? Why or...
What is a balanced scorecard? Does every company need to utilize a balanced scorecard? Why or why not?
explain customer perspective as one of dimensions of the balanced scorecard in Hotel context
explain customer perspective as one of dimensions of the balanced scorecard in Hotel context
What factors are included in the balanced scorecard? *
What factors are included in the balanced scorecard? *
What is a balanced scorecard? What are its advantages?
What is a balanced scorecard? What are its advantages?
What is a Balanced Scorecard, and what are the factors that need to be considered in...
What is a Balanced Scorecard, and what are the factors that need to be considered in its development? Support your response with references.
What Contemporary Management Techniques does McDonalds use? The Balanced Scorecard (BSC) and Strategy Map, Value Chain,...
What Contemporary Management Techniques does McDonalds use? The Balanced Scorecard (BSC) and Strategy Map, Value Chain, Activity-Based Costing and Management, Business Analytics, Target Costing, Life-cycle Costing, Benchmarking, Total quality Management, Lean Accounting, Theory of constraints, Sustainability, or Enterprise Risk Management
Explain what is meant by Balanced Scoreecard and Discuss Four Perspectives of Balanced Scorecard.
Explain what is meant by Balanced Scoreecard and Discuss Four Perspectives of Balanced Scorecard.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT