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B. Aligning the Balanced Scorecard to Strategy Ginsberg Engineering Company manufactures electric motors for sale to producers of washing machines. In the past, Stan Grossman, the Operations Manager at Ginsberg Engineering, has been rewarded based on the number of units produced each month, and this has led to actions that are inconsistent with maximising shareholder value. Near the end of each quarter, Grossman estimates expected production in relation to his target. If expected production is below the target, he runs extra shifts in an attempt to meet his production target. As Ginsberg Engineering has limited storage space, this often results in the delivery of motors to customers ahead of time. This is a problem for many customers, who also have limited storage space. Sheryl Hoover, the CEO of Ginsberg Engineering, decided to implement a balanced scorecard (BSC) for the Operations Division, with the specific purpose of eliminating the perverse incentive described above. Hoover believes it is inefficient to build a new BSC, and so she simply copied the BSC used in her last firm. An extract of this BSC is as follows: PERSPECTIVE OBJECTIVE LAG INDICATOR LEAD INDICATOR Financial Improved profitability Profit Cost per unit Customer Improve customer satisfaction Customer satisfaction Customer returns Internal Business Increase product quality Customer returns Defect rates Learning & Growth Improve staff capability Staff quality skills audit score Quality training programs delivered Also, while Hoover believes the BSC is useful in monitoring performance, she believes that all managers need to be rewarded in a consistent way, and so she based all divisional managers' (including Grossman's) bonuses on their profit compared to budget. After twelve months of using this BSC, the perverse incentive still exists
Gardner Corporation purchased a truck at the beginning of 2010 for $75,000. The truck is estimated to have a salvage value of $3,000 and a useful life of 120,000 miles. It was driven 18,000 miles in 2010 and 32,000 miles in 2011. What is the depre..
Compute the acquisition cost of the equipment and prepare the journal entry to record the purchase.
Compute the depreciation expense for 2011 and 2012 uder straight-line,units of activity,double-declining balance method.
The financial statements for Jobe Inc. and Lake Corp., just prior to their combination, for the year ending December 31, 20X2, follow. Lake's buildings were undervalued on its financial records by $60,000.
The Production Division has no alternative use for the facilities used to manufacture the stuffing. What is SCC's the monthly operating income advantage (disadvantage) if the goods are purchased internally?
A debt instrument with no ready market is exchanged for property whose fair market value is currently indeterminable. When such a transaction takes place:
Prepare an amortization schedule for the following loan, for the first three months of the loan: $20,000 car loan, payments are $444.89 for 5 years, payable monthly at 12%. What are the total principal and interest payments for the 5 year loan?
An investor recently purchased a corporate bond which yields 9 percent. The investor is in the 36 percent combined federal and state tax bracket. What is the bond's after-tax yield?
Compute the budgeted profit as the expected volume of 600,000 units under both the old and the new production environments. Compute the budgeted break-even point under both the old and the new production environments.
Farewell company purchased merchandise with an invoice price of $2000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms?
Identify a suitable ERP systems for a state University. What are the primary modules and functions of each.
Statistical sampling should always be used in tests of general controls, such as inspecting logs that document program changes, were the auditor wants to review the entire population but uses sampling to choose specific items to investigate a samp..
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