Unit 7

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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

Other cards in this set

Card 2

Front

Business Objective

Back

Survival

Card 3

Front

Marketing Objective

Back

Preview of the front of card 3

Card 4

Front

Operations Management Objective

Back

Preview of the front of card 4

Card 5

Front

Human Resources Objective

Back

Preview of the front of card 5
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