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ryanolson41 ryanolson41
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A month ago
Traditionally, organizations have evaluated their performance using only financial measures. However, many other performance indicators should be considered. The balanced scorecard was developed to assist managers in measuring performance across several perspectives.

Required:

a.Identify and discuss each of the perspectives used in the balanced scorecard.
b.Provide three measures of performance used in each perspective.
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Managerial Accounting

Managerial Accounting


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amieamie
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More solutions for this book are available here
a.Learning and growth perspective is concerned with measuring whether or not the
company is hiring the right people, training them effectively, and giving them technologies they need to develop and produce the products and services customers desire. This perspective is the foundation for improvement in all other areas because if employees cannot meet customers' needs, the company will not be successful in the long run.
Internal business processes perspective is concerned with measuring whether or not the company is creating products and services that customers desire and delivering them in a timely manner.
Customer perspective is concerned with measuring whether or not the company is meeting customers' expectations concerning the quality, price, delivery speed, and service of the products and services they are purchasing.
Financial perspective is concerning with measuring whether or not the company is achieving the financial goals expected from the success in the other three perspectives.
b.Answers will vary.
Learning and growth: Employee turnover rate, Training hours per employee, and Employee satisfaction;
Internal business processes: Percentage of on-time deliveries, Cost per unit, and Manufacturing cycle efficiency;
Customer: Customer satisfaction index, Number of customer complaints, and market share;
Financial: Profit margin, Earnings per share, and Return on investment.

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ryanolson41 Author
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A month ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
lierac00
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Yesterday
Just got PERFECT on my quiz
klyn
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2 hours ago
Brilliant ツ
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