L7

Question 1

BSC

Answer 1

the Balanced Scorecard is a comprehensive performance report that contains the organization’s critical success factors (CSFs)
used to implement the org. strategy
balances the use of financial and non-financial performance measures to evaluate performance
–> aligns manager’s performance with the org. strategic goals

Question 2

Four perspectives of BSC

Answer 2

• learning and growth
• internal business processes
• customer satisfaction
• financial performance

Question 3

What does the BSC tell?

Answer 3

• tells the story of the company’s strategy
• the emphasis placed on each performance perspective reflects the strategy of the firm (cost leader the operations hight be important; differentiator the customer perspective)

Question 4

strategy map

Answer 4

cause-and-effect diagram of the relationships among CSFs in a BSC
- financial perspective as ultimate goal

Question 5

How can the BSC be expanded?

Answer 5

by sustainability (tend to drive future performance, while financial metrics are backward looking)