Answer to Question #178788 in Economics of Enterprise for Nerisha

Question

Post a Discussion 

You have now read more about the balanced scorecard. It is important to consider and apply this to your place of work and to share your understanding with the rest of your course mates.

• Based on your understanding of the balance scorecard theory, study the example below and match the correct description to the balanced scorecard quadrant.

•  Justify your answer using the Balanced Scorecard theory

EXAMPLE:

A. Finance

B.Edducational Growth

C.Customer relationship

D.Internal process

match with

1. To satisfy our customers,at which process must we excel
2. If we succeed financially, how will we look financially
3. To achieve our vision, how much organizations learn and grow
4. To achieve our vision, how should we look to our customers

Answer 1

1. To satisfy our customers, at which process must we excel - Customer relationship
2. If we succeed financially, how will we look financially - Finance
3. To achieve our vision, how much organizations learn and grow - Educational Growth
4. To achieve our vision, how should we look to our customers - Internal process

Financial Perspective covers the financial objectives of a firm, like operating income and return on equity, to monitor financial performance and shareholder value.

Customer Perspective includes the customer objectives, such as customer satisfaction and market share in target segments.

Internal Process Perspective covers internal operational goals and key processes, like cycle time and efficiency, which are necessary to deliver customer objectives.

Learning and Growth Perspective includes the intangible drivers of future performance, such as human, organizational, and information capital like training, organizational culture, and databases.