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Chapter 24: Q12RQ (page 1355)

How is the use of a balanced scorecard as a performance evaluation system helpful to companies?

Short Answer

Expert verified

Answer

The balanced scorecard represents a major shift in corporate performance measurement.

Step by step solution

01

Meaning of Balanced scorecard

Companies use a balanced scorecard as a vital arranging system to arrange their activities, merchandise, and administrations, communicate around their destinations, and plan their ordinary operations.

02

Use of a balanced scorecard as a performance evaluation system helpful to companies

A critical change in how businesses survey the balanced risks to their execution. Companies get it that budgetary markers are fair one of a few execution pointers, as restricted to employing them as the as it were the benchmark. Observing working and standard budgetary measurements gives supervisors an "adjusted" viewpoint of the business.

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Most popular questions from this chapter

Refer to the data in Exercise E24-17. Calculate each division’s RI. Interpret your results.

Refer to the information in Short Exercise S24-7.

Requirements

1. Compute each division’s asset turnover ratio (round to two decimal places). Interpret your results.

2. Use your answers to Requirement 1, along with the profit margin ratio, to recalculate ROI using the expanded formula. Do your answers agree with the basic ROI in Short Exercise S24-7?

What is a key performance indicator?

What is goal congruence?

Explain the difference between a lag indicator and a lead indicator.
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