Advanced The ‘Balanced Scorecard’ approach aims to pro¬ vide information to management to assist strategic policy formulation and achievement. It emphasises the need to provide the user with a set of informa¬ tion which addresses all relevant areas of per¬ formance in an objective and unbiased fashion.

Requirements

(i) Discuss in general terms the main types of information which would be required by a manager to implement this approach to measuring performance;

and

(ii) comment on three specific examples of per¬

formance measures which could be used in a company in a service industry, for example a firm of consultants. (10 marks)

CIMA Stage 4 Strategic Financial Management