Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have a Balance Sheet question in which I have uploaded the instructions and supporting documents that I need help with. http://www.netmba.com/accounting/mgmt/balanced-scorecard/ http://www.quickmba.com/accounting/mgmt/balanced-scorecard/ The attached

I have a Balance Sheet question in which I have uploaded the instructions and supporting documents that I need help with. image text in transcribed

http://www.netmba.com/accounting/mgmt/balanced-scorecard/ http://www.quickmba.com/accounting/mgmt/balanced-scorecard/ The attached Power Point presentation also explains the balanced scorecard. Read the lecture material "More Information on Metrics" posted in this week's module. Assignment: Part I. Create Balanced Scorecard 1. Build a Balanced Scorecard for an organization. Unless you are in senior management, focus on the unit with which you are most familiar rather than the organization as a whole. Identify the strategic objectives of the entire organization and the secondary objectives for the unit. Develop three specific objectives within each of the four perspectives for the unit. Each objective should have at least one quantified target metric associated with it. It is essential to understand what metrics are. Be sure to study the lecture material on "More Information on metrics" In this assignment, the specific information needed to calculate each metric should be explained. For each metric state the appropriate target value and the actions that need to be taken to achieve the target. The paper should be no more than 15 pages, including the reference list, and be formatted in accordance with the APA guidelines as modified for the MBA program (http://info.umuc.edu/mba/public/MBA-apa.html). Please format your paper in Microsoft Word as a XXX.doc or XXX.rtf file, and place the paper in your assignment folder. Metrics Develop three specific objectives within each of the four perspectives for the unit. Each objective should have at least one quantified target metric associated with it. So your table should contain 4 perspectives, each with 3 specific objectives, and a target value of the metric for each objective. If you would like to see a sample table of metrics, here is one example: Sample Table of Metrics for an Example Business Unit Perspective Financial Objective Revenue Growth Metric Annual Rate of Growth Target Value > 6% > 7% Operating Profit Growth % EBIT/Sales > 2.0 5% > $600 > 90% Learning > 4% Ratio of New to Old Products Internal Improve Customer Satisfaction Median Score: Customer Survey Product Improvement % R&D Expense to Revenue Ratio of New to Old Products > 8% Maintain Market Share Employee Training Market Share % Annual Hours of Employee Training Employee Turnover > 24% > 30,000 $38,000 Employee Compensation Average Compensation Assignment: Part II. Post Executive Summary in Discussion area 2. Create a separate main topic from the Balanced Scorecard an Executive Summary. Do not include any confidential information in your Executive Summary because your Executive Summary is not private. But you can include confidential information in your paper. .Support Materials for Week 6 topics Valuation, Capital Budgeting, and Value-Based Management Link Topic Writing Programs/Applications Web Page Actions for 'Writing Programs/Applications' Teller Reveals his Secrets Web Page Numbers are the language of business. Numbers are measurements of performance for companies, for business units, and for individuals. These performance measurements determine whether companies, business units, and individuals are succeeding or failing in reaching their objectives. If the measurements are favorable, then companies are succeeding, employees are earning increased compensation and greater job security, customers are pleased, suppliers are winning more orders, the local community is benefiting, and investors are earning good returns. However, if the measurements are unfavorable, then companies are not succeeding, employees are earning constant or reduced compensation and losing job security, customers are displeased, suppliers are winning fewer orders, the local community is being harmed, and investors are earning low or even negative returns. Therefore performance measurement numbers are of crucial importance. These performance measurement numbers are known as "metrics." It is very important to understand what a metric is. To be clear, a metric means a measurement. There are three kinds of measurements: 1. Nominal: a nominal scale assigns items to a category. For example, the category may be a simple "yes" or "no." In the case of a family, a nominal scale assigns items to categories like grandfather, grandmother, father, mother, son or daughter. In the case of an automobile, categories could be small sedan, midsize sedan, large sedan, SUV, etc. 2. Ordinal: an ordinal scale identifies items in order of magnitude. For example, a customer survey might ask for ratings of service on a scale of 1 through 5, where 5 is best. That means a score of 4 is better than a score of 2. But it does not mean that a 4 is twice as good as a 2, or that a 4 is four times as good as a 1. 3. Cardinal: a cardinal scale is also known as a ratio scale. For example, the numbers 1, 2, 3, ... represent a cardinal scale. For a ratio scale, 12 is four times 3, and two times 6. So a metric must be either a nominal or ordinal or cardinal measurement. Anything else is not a metric. ROE > 20% is a metric. "Increase Sales Revenue by 5%" is a metric. "Survey Customers" is not a metric. *************** For each metric each period there are: (a) target values, (b) actual values, and (c) a methodology for obtaining the data and calculating the actual values. You should include the target values and explain the methodology for obtaining the data and calculating the actual values each period. It would be helpful to provide illustrations or examples of the methodology for obtaining the data for target values and calculating the actual values each period. Good descriptions of the use of metrics can be viewed at: http://searchcrm.techtarget.com/definition/business-metric http://wfnetwork.bc.edu/glossary_entry.php?term=Metrics,%20Definition%28s %29%20of&area=All Let us assume Savannah Paper Co (SPC) for our analysis and may not be a big entity to have an exhaustive balance scorecard. But however, After thinking of many aspects of the company from balance scorecard point of view, let us present them as below: (A) Financial Perspective We may say that SPC as a company has below mentioned three objectives, which is supportive to strategy developed by the management. (B) Customer Perspective As per the below mentioned parameters, we understand that SPC takes care of its customers: The Internal Business Process Perspective: As per this perspective, we may observe that SPC is able to reduce it's administrative cost, product delivery time of customers and reducing the lead-time. The learning & Growth Perspective As per this perspective, we may say that, there is an increase in training hours, reduction in employee turnover and connecting to mission of SPC the company

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost-Benefit Analysis For Public Sector Decision Makers

Authors: Diana Fuguitt

1st Edition

1567202225, 9781567202229

More Books

Students also viewed these Accounting questions

Question

5. Give examples of binary thinking.

Answered: 1 week ago