Question
recent management meeting at Bull Industries, discussion turned to the work being done on the development of a new balanced scorecard. CEO (Makenzi Taylor) stated:
recent management meeting at Bull Industries, discussion turned to the work being done on the development of a new balanced scorecard. CEO (Makenzi Taylor) stated: "...... I know we have talked about the connections between metrics before, but I am really keen to know a little more; especially now that we have had the scorecard in operation for 12 months. Are we able to conduct some further analysis? For example, in the Retail Division, how can we work out if there is at least some connection between say the number of customers entering the stores and sales revenue?"
Which of the following would help address Makenzi's query seeking evidence of a connection between the number of customers entering stores and sales revenue? Multiple answers possible.
A Prepare a strategy map showing the connections between the metrics in the scorecard.
B Conduct surveys to test for causation. The survey would prompt participants to describe why they entered the store and the likelihood that they will make a purchase.
C Collect data on the number of daily customers entering stores and daily sales revenue over a representative period and use linear regression to test for correlation.
D Collect data on the number of daily customers entering stores and daily sales revenue over a representative period and use linear regression to test for causation.
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