Balanced scorecard. Peter Mesa, the managing partner of the London office of the consulting firm of Management
Question:
Balanced scorecard. Peter Mesa, the managing partner of the London office of the consulting firm of Management Services, LLP, saw the following diagram while visiting one of his clients who owns a small manufacturing company.
Mr. Mesa commented to his client that he could see how to link increased training to improved production quality, and how that would result in better customer satisfaction with the products. "I wish I could apply this model to the consulting business, but I don't think it works in consulting. It works for you because you produce a tangible good. What we produce is advice, which is not very tangible."
Mr. Mesa's client responded. "You produce a good. You produce good advice, which helps us produce good goods."
"Well that's good," Mr. Mesa replied, "but it doesn't help me to apply your model to my business so that we can provide even better advice." (And be more profitable, he thought to himself.)
Using the balanced scorecard as a starting point, write a report to Mr. Mesa that explains how to implement the model shown in the diagram above for Management Services. Be specific in stating how to measure the performance of each step in the sequence from increased employee training to better financial results.
Step by Step Answer:
Managerial Accounting An Introduction To Concepts Methods And Uses
ISBN: 9780030259630
7th Edition
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil, Sidney Davidson