Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A college currently measures its performance by comparing the actual costs against its budgeted costs for the year.Now that the college is facing increased competition from Various colleges and private education providers, Deptt. professors has suggested that it needs to consider additional performance which measures such as those indicated by the Balanced Scorecard.
Explain the concepts of the Balanced Scorecard and how this approach to performance measurement could be used by the college.
The main concepts of the Balanced Scorecard is that
An organisation’s performance should not be measured on the basis of its financial results only.Other key performance indicators are improtantly relevant to an organisation’s success. The balanced scorecard typically identifies Quadrants groups (or four) of performance indicator that would be suitable for most organisations, though each organisation is free to determine the performance indicators that are most relevant to its own needs. The typical quadrants are: customer perspective; internal business perspective; innovation and learning perspective; and financial perspective. Many people believe that success in the non-financial performance measures will lead to success in the financial performance measures so that these other measures are leading measures whereas the financial measures are lagging measures. The college could use the balanced scorecard to measure its success in other areas of its business. It is important for service businesses such as colleges to understand the wants of its customers and thus measures connected with the customer perspective are important. The college may discover that particular types of courses are demanded by their customers and this may lead the college to develop new courses which can be measured using the innovation and learning perspective. The college can also look at how it operates its processes both in relation to its staff and its customers. Improvements in these processes could be used to improve the financial results, perhaps, because costs savings can be made.
Bakers Bagels LLC produces and sells 20 types of bagels by the dozen. Bagels are priced at $6.00 per dozen (or $0.50 each) and cost $.020 per unit to produce. The company is consid
1) The Svelte Jeans Company produces two different types of jeans. One is called the "Simple Life" and the other is called the "Fancy Life". The company sales budget estimates that
Marginal Cost Marginal cost is the change in a firm's cost of production. It is related to a unit change in its output, or the added cost of producing the next unit. The margin
Describe the information about cost sheets? Ans) Cost sheet having of the direct and indirect expenses acquired in producing a given product and classifying the expenses acquire
What are the four elements of the budgeting cycle?
Freshly Ground Investments have just made an investment of $550 000 in a new Toyota Hilux (with trailer) delivery vehicle. This vehicle will be used for deliveries and generate rev
Three of the cost items that are included in the production overhead for a factory for a period are: Machine maintenance labour $33,600 Power
A corporation acquired a truck on July 1, 2012, at a cost of $162,000. The truck has a six-year useful life and an estimated salvage value of $18,000. The straight-line method of d
With the internal rate of return, how can a company use the ROI methodology as a realistic measurement? Please discuss the pros & cons of each measurement statistic.
Group Bonus Plan There are specific operations or jobs that require to be done collectively via a group of workers, as an example of, continuous production work flows in asse
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd