Question
The Veronica Prescott Company is a major financial services company, noted for its Magna Card. Veronica Prescott Company recently replaced its old measurement system oriented
The Veronica Prescott Company is a major financial services company, noted for its Magna Card. Veronica Prescott Company recently replaced its old measurement system oriented toward financial performance only with a balance scorecard. Below are some of the performance measures used by the company in its balanced scorecard. Average customer spending Cards in force Number of merchant signings Number of card choices Earnings growth Number of new card launches Hours of credit consultant training Return on equity Number of internet features Investment in information technology Revenue growth a) For each measure, identify whether the measure best fits the innovation, customer, internal process, or financial dimension of the balance scorecard. b) Briefly discuss the four components of a balance scorecard, outlining how the balance scorecard fits together and supports an entity's strategic plan.
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