MARCH 2018 QUESTION 3 (25 MARKS) Current changes of business environments have focused on both financial perspectives and non-financial perspectives to run businesses. The economic information has been used for decision making and the implementation of balance-score card caused business to be more profitable. Required: a) Explain TWO (2) arguments for using the profit measures as the all-encompassing measure of the performance of a business. (4 marks) b) Explain TWO (2) benefits of the balance-score card. (4 marks) c) Discuss THREE (3) costs associated to implement the balance-score card. (6 marks) d) Discuss THREE (3) problems of using non-financial measures for both short-term and long-term control of a business. (6 marks) e) Classify the indicators below under different perspectives of balance-score card: Customization of Product Employee Training Employee Satisfaction Number of Defectives Return on Assets Market Share Product Innovation Customer Profitability Customer Retention On-time Deliveries