Question 2 Vanity is a medium-sized clothing retailer. The company's management information systems focus only on financial information. Vanity's strategic objectives of Vanity are: (i) To maximise shareholder wealth by increasing the number of retail stores; and (ii) To ensure customers' satisfaction Vanity's board of directors had never considered non-financial performance indicators (NFPIs) as they only focused on cost control and working capital management. Recently, the directors had been made aware of the balanced Scorecard in appraising organisational performance. The directors have come up with the following headings for the balance scorecard performance indicators: Perspective Financial Targets measures Operating profit margin Inventory turnover Current ratio Customer Customer satisfaction Market share Internal business processes Learning and innovation Stock out percentage Total employee training days Required Using the Balance Score Card perspectives designed by the directors, write a report to the board of directors regarding the problems faced in implementing and using the balanced scorecard approach at Vanity. + (Total 16 marks) Question 2 Vanity is a medium-sized clothing retailer. The company's management information systems focus only on financial information. Vanity's strategic objectives of Vanity are: (i) To maximise shareholder wealth by increasing the number of retail stores; and (ii) To ensure customers' satisfaction Vanity's board of directors had never considered non-financial performance indicators (NFPIs) as they only focused on cost control and working capital management. Recently, the directors had been made aware of the balanced Scorecard in appraising organisational performance. The directors have come up with the following headings for the balance scorecard performance indicators: Perspective Financial Targets measures Operating profit margin Inventory turnover Current ratio Customer Customer satisfaction Market share Internal business processes Learning and innovation Stock out percentage Total employee training days Required Using the Balance Score Card perspectives designed by the directors, write a report to the board of directors regarding the problems faced in implementing and using the balanced scorecard approach at Vanity. + (Total 16 marks)