Assignment 2: LASA 2—Balanced Scorecard Report Cathy Jones Principles of Managerial Accounting Instructor Michelle Gonzalez July 19‚ 2012 Nordstrom‚ Inc.‚ an upscale department store chain which specializes in clothing‚ accessories‚ cosmetics and household furnishings‚ has hired you as a consultant to help them determine if their performance measures are supporting their company strategies‚ objectives‚ mission and goals. Nordstrom prides itself on providing quality service and high quality
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Week 5 Knowledge Check Concepts Mastery Score: 15/17 Questions 75% 1 2 3 Feedforward/Concurre nt/Feedback Controls 100% 4 5 6 Financial Controls 100% 7 8 9 Balanced Scorecard 100% 10 11 12 67% 14 15 16 Control Process Benchmarking 17 13 Concept: Control Process Concepts Mastery Control Process 75% Questions 1 2 3 17 1.The control process assumes that ________. A. employees require clear directions from management B. employees are underqualified and require training
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Budgetary control is part of overall organisation control and is concerned primarily with the control of performance. The use of budgetary control in performance management has of late taken on greater importance especially as a more integrative control mechanism for the organisation. Discuss. “It’s clearly a budget. It’s got a lot of numbers in it” (George W. Busch 2005). This definition of a budget can be supplemented using the Oxford dictionary‚ which states that a budget is an estimate of
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Case Study 7-2: BALANCED SCORECARDS AT BICOCO 1) They realized that balanced scorecards help the departments look beyond their own operations and they could activate everyone in the company by putting sensible goals related to the main goals of the company. Also it improves communications by providing a focal point and common language around the key value drivers of the organization and it helps IT recognized other business areas which enhance the cooperation among departments. Besides‚ it would
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22-23‚ 2005) -2- Abstract According to Robert Kaplan and David Norton‚ (1992; 1996; 2001; 2004)‚ ’the final linkage from high-level strategy to day-to-day actions occurs when companies link individuals ’ reward programs to the Balanced Scorecard ’. The objectives of this linkage are‚ first‚ to focus employees ’ attention on strategic priorities‚ and second‚ to provide extrinsic motivation by rewarding employees when they and the organisation reach their targets. Performance related pay (PRP)
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- Brandscore Card - Introduction The brandscore card is an essential element used to evaluate the overall equity of a brand. The scorecard is an effective way to asses the unmet needs of the brands customers‚ it enables the brand to stay relevant and effective in the marketplace in a methodological manner. The scorecard should be able to fill any gaps that have developed within the brand’s approach to management and its strategic direction‚ as well as developing and maintaining a functional management
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Learning and Growth Perspective Kendell Moore Dr. JD Eveland BUS499 Case 4 Learning and Growth Perspective Introduction Measures in the Learning and Growth perspective of the Balanced Scorecard are really the enablers of the others perspectives. In essence‚ they are the foundation upon which the Balanced Scorecard is built. Susan Johnson of Futura identify measures and related initiatives in your customer and internal process perspectives‚ you can be certain of discovering some gaps between your
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Planning and Measuring Performance Planning and Measuring Performance This paper will discuss Hospital Corporation of America’s (HCA) goals of achieving industry-leading performance in clinical and satisfaction measures and recruiting and employing physicians to meet the need for high quality health services (University of Oregon Investment Group‚ 2011). This paper will also discuss which tools would be most effective in measuring the organization’s performance against the determined standards
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discuss the differences between these two different strategies. It focuses on how the difference cost of can affect the marketing target and profitable production. Secondly‚ it will analyses the measurement from four perspectives by the balanced scorecard. There are financial‚ customer‚ internal-business-process and learning-and-growth. In this part‚ it concentrates on analysis of the each perspectives and forecasts the benefits of this strategy. In addition‚ it compares the different business performance
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The scoiecard tracks the key elements of a company’s strategyfiom continuous improvement and partnerships to tearnwork and global scale. The Balanced Scorecard Measures That Drive Performance by Robert S. Kaplan and David P. Norton what you measure is what you get. Senior executives understand that their organization’s‚ measurement system strongly affects the behavior of managers and employees. Executives also understand that traditional financial accounting measures like return-on-investment
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