Identify and discuss the key performance measures of a balanced scorecard. Then,
ID: 2403940 • Letter: I
Question
Identify and discuss the key performance measures of a balanced scorecard. Then, find three companies that are currently using a Balanced Scorecard System by doing an internet and library database search. Internet searches as well searches of financial databases, such as Yahoo Finance, should help you in your efforts. Then discuss in as much detail as possible the specifics of the balanced scorecard that is being used by these companies.
Deliverable
Explain the specifics of the balanced scorecard system of the three companies you selected in your research. This should include your analysis of the advantages and disadvantages of each company’s Balanced Scorecard System. Be sure to clearly document the performance measures being used by each of the three companies.
Reference
Garrison, R.H., Noreen, E.C, & Brewer, Brewer, P.C. (2015). Managerial Accounting (15th ed.). New York, NY: McGraw-Hill.
Explanation / Answer
Key performance measure of balance scorecoard can be categorized in
1) customer
2) financial
3) learning and innovation perspective
4) internal business perspective
Company using balance score card
1) Volkswagen
2)Citibank
3) Philips electronic
Anaysis of Volkswagen
Advantage
Improvise Customer satisfaction
Inventory control
New method of innovation can be found
Diasvantage
Difficultly in collect information
Difficult maintain records
2) citibank
Advantage
Performance of employee can determinend
Feedback from customer can take and improvement can be made
Financial position can improved
Disadvantage
Difficult toallocate cost
Encouragement to emploeyee is needed
3) Philips electronic
Advantage
Focus on area which gives more profit and customer satisfaction
Research and innovation can be made
More accurate information can collect
Disadvantage
Time consuming activity
More cost involvement is needed