Lecture 7

Question 1

What are non finacial methods to help measure performance 3 and then explain the 3

Answer 1

1. Non finacial performance indicators ( NFPIs)
   = looking at different categories like competitiveness, activity level,productivity etc
2. Benchmarking = comparing yourself to others to get better.
3. Balanced scores = Kaplan introduced it to help us look at beyond finacial stuff.

Question 2

3 types of benchmarking
- internal
- comeptive
- functional

Answer 2

1. Internal = to compare between inside the company
2. Competitive = compare with competitors
3. Functional = compare specific function like customer service with other industries

Question 3

What are 4 things balanced scores card focuses on FICL

Answer 3

1. Finacial =. How do owners see us
2. Customers= how do customer see us
3. Internal process = what should we be great at
4. Learning and growth = how can we keep improving

Question 4

What is benefit of balance short card? ( 2 things )

Answer 4

1. You see performance in many different ways
2. Harder to hide poor performance