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Balance Scorecard | Assignment

   

Added on  2020-12-30

7 Pages1523 Words26 Views
Balance Scorecard

Table of ContentsINTRODUCTION...........................................................................................................................1QUESTION 3...................................................................................................................................1(a). Explaining balance scorecard and its uses to measure performance of AB Limited............1(b). Explaining benchmarking and its uses to improve performance of AB Limited.................2QUESTION 4...................................................................................................................................2(a). Outlining uses of standard costing and its reasons to be reviewed.......................................3(b). Explaining whether standard costing can be applied to both manufacturing and servicebusiness.......................................................................................................................................3CONCLUSION & RECOMMENDATIONS..................................................................................4REFERENCES................................................................................................................................5.........................................................................................................................................................5

INTRODUCTIONEvaluation of a business is a significant task to be performed by an organisation in orderto ascertain positive and negative influencers of that firm. Maim aim of this project report is tobuild an understanding about various techniques which can help in assessing performance of acompany such as balance score card and benchmarking. In this project report standard costing isexamined in detail along with techniques of performance evaluation in order to serve managingdirector of AB Limited (Prakash and Pant, 2013). QUESTION 3(a). Explaining balance scorecard and its uses to measure performance of AB LimitedBalance scorecard is a measure which is used under strategic management to enhanceinternal functions and operations of a business organisation. It is a financial metric whichprovides feedback to management of business by analysing data which is collected. Balancescorecard is a metric which identifies strategic priorities of business which are typically finance,customers, internal management and growth. These priorities are evaluated in order to ascertainoverall performance of a company (Balance scorecard, 2017). In order to measure the performance of AB Limited, a balance scorecard is required to bedeveloped. StrategicprioritiesObjectivesMeasuresTargetsInitiativesFinanceMakingABLimitedfinancially strongby enhancingvarious ratiossuch as ROCE,profitability andasset utilisation. In order tomeasure Financesof this companyvarious metricsmust be used suchas ROCE, cashflow, net marginratio and volumegrowth.It is important toevaluate all thetargets whichwere set by ABLimited. ROCEmust be 19%,cash flow 5000dollars per monthand net margin12% In order toachieve targets ofABLimited,initiative thatmustbeperformed is assetdeposition. CustomerAttainingCustomer45.00%Dealer committee1

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