Unit 7 0.0 / 5 ? Business StudiesAnalysing overall performanceA2/A-levelAQA Created by: RachelCoates16Created on: 08-11-17 10:23 Limitation of financial performance indictors Short term 1 of 17 Business Objective Survival 2 of 17 Marketing Objective Market Share 3 of 17 Operations Management Objective Unit Cost 4 of 17 Human Resources Objective Labour Cost Per Unit 5 of 17 Difficulty in using non-financial methods of performance Measure of performance is likely to be subjective 6 of 17 Core Competence Provides access to a wide variety of markets 7 of 17 Activities that aren't a core competence should be ... Outsourced 8 of 17 Reason for short-termism Shareholder value 9 of 17 Short term measure Sales revenue 10 of 17 Long term meaure The ability for a firm to sustain or expand in its current operation 11 of 17 Strategic planning system that is linked to the organisation's vision Balanced Scorecard 12 of 17 Number of key perspectives in the balanced scorecard Four 13 of 17 Advantage of the balanced scorecard Allows employees tosee more clearly where their role fits with the goals of the firm 14 of 17 Weakness of the balanced scorecard Excessive numbers of tragets can cause confusion 15 of 17 Measures performance by focusing on three different factors Elkington's Triple Bottom Line 16 of 17 Common objective in Elkington's Triple Bottom Line Steady levels of growth 17 of 17
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