Asked by Liane Armes on Mar 10, 2024
Verified
Southern Cruises Ltd, which operates in a very competitive marketplace, is considering four categories of performance measures: (i) profitability (ii) customer satisfaction (iii) efficiency and quality and (iv) innovation. The company assigns one manager to each ship in its fleet to oversee the ship's general operations. If Southern Cruises Ltd desired to adopt a balanced scorecard approach, which measures should it use in the evaluation of managers?
A) i and ii
B) ii and iii
C) i, ii and iv
D) All of the given answers
Balanced Scorecard
A strategic planning and management system that organizations use to communicate what they are trying to accomplish, align day-to-day work with strategy, prioritize projects, and measure progress.
Efficiency And Quality
Measures of how well resources are used to achieve objectives and the degree to which products or services meet customer expectations.
Customer Satisfaction
The measure of how products or services provided by a company meet or surpass customer expectation.
- Gain understanding of the integration of financial and non-financial aspects in performance analysis.
Verified Answer
Learning Objectives
- Gain understanding of the integration of financial and non-financial aspects in performance analysis.
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