Performance Measurement (7)

Question 1

What is the balanced scorecard and building block based on?

Answer 1

All key non-financial aspects of performance can be measured and quantified

Question 2

Problem with qualitative non-financial performance targets (difficulties)

Answer 2

Difficulties selecting a suitable performance measure

Question 3

Example of difficulty selecting a suitable performance measure?

Answer 3

Delivery a high standard of servicee to a customer, but how is service quality defined

Question 4

Problem with qualitative non-financial performance targets (qualitative)

Answer 4

Qualitative data is not quantified

Question 5

Problem with qualitative non-financial performance targets (information)

Answer 5

Lack of information system

Question 6

How can qualitiative measures be converted into quantitiative measures?

Answer 6

Through a subjective scoring system. This is difficult to target and monitor

Question 7

What is meant by a lack of information system?

Answer 7

Less likely to have a reliable and comprehensive system for collecting data about qualitative aspects of performance