c$.$ Calculation of Inventory turnover period: The inventory turnover period is calculated as the average number of days it takes for a company to sell its inventory. It can be calculated using the following formula: Inventory turnover period $=($Average inventory $/$ Cost of goods sold$)$ x $365$ For example, if the average inventory for the year was $$500,000$ and the cost of goods sold was $$10,000,000,$ the inventory turnover period would be: Inventory turnover period $=($$$500,000/$ $$10,000,000)$ x $365=18\mathrm{.}25$ days d$.$ Potential benefits and actions to ensure maximum benefit of using a balanced scorecard: The use of a balanced scorecard can provide several benefits, including: Improved alignment of business activities with strategic objectives Improved communication and understanding of strategic objectives among employees Improved performance measurement and monitoring Improved decision$-$making based on data and analysis Improved accountability and responsibility for achieving strategic objectives To ensure maximum benefit from using a balanced scorecard, it is important to take the following actions: Develop a clear and concise strategy that aligns with the business objectives Ensure that the objectives and measures are well$-$defined, specific, measurable, achievable, relevant, and time$-$bound $($SMART$)$ Identify and involve key stakeholders in the development and implementation of the balanced scorecard Establish a regular review and evaluation process to ensure that the balanced scorecard is effective and relevant Communicate the balanced scorecard to all employees and stakeholders to ensure that everyone understands the strategic objectives and their role in achieving them e$.$ Evaluation of the effectiveness of the balanced scorecard approach in alleviating the problems associated with short$-$termism: The balanced scorecard approach can be effective in alleviating the problems associated with short$-$termism, which is a focus on short$-$term results at the expense of long$-$term value creation. By incorporating a balanced set of measures across different perspectives, including financial, customer, internal processes, and learning and growth, the balanced scorecard encourages a more balanced and holistic approach to performance measurement and management. This can help to shift the focus away from short$-$term results and towards longer$-$term value creation. However, the effectiveness of the balanced scorecard approach depends on several factors, including the quality of the strategy, the effectiveness of the measures and targets, the alignment of the organization, and the commitment of the leadership team. If these factors are not in place, the balanced scorecard approach may not be effective in alleviating the problems associated with short$-$termism. Therefore, it is important to carefully design and implement the balanced scorecard approach