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Final

COMM 210 Study Guide - Final Guide: Cash Flow, American Apparel, Balanced ScorecardPremium

3 pages142 viewsFall 2015

Department
Commerce
Course Code
COMM 210
Professor
Karim Boulos
Study Guide
Final

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Kaplan and Norton: The Balanced Scorecard
• The “bottom line” is not enough
• The traditional financial performance measures worked well for the industrial era but not
anymore
• A stakeholder is anyone who has invested interest in a company and stockholders are company
owners, employees, etc.
• Four perspectives for a balanced scorecard
Customer perspective
• What matters most to customers? How do customers see us? (Specific measures, includes numbers,
that reflect the factors that really matter to customers) To achieve our vision, how should we
appear to customers?
Internal business perspective
• How can we produce to meet customer expectations? What must we excel at? (Internal
operations that enable them to satisfy customer needs) To satisfy our shareholders and customers,
what business processes must we excel at?
Innovation & learning perspective
• How can we make continual improvements? Can we continue to improve and create value?
(Improve existing products, launch new ones, and create more value for customers.....)To achieve
our vision, how will we sustain our ability to change and improve?
Financial perspective
• How can we ensure profitability for shareholders? How do we look to them? To succeed
financially, how should we appear to our shareholders?
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