Chap14&15QuizBUS4113 - Amberton University BUS 4113...

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Amberton University BUS 4113 – Accounting and Finance for Managers Chapter 14 1. Why are non-financial measures necessary in today's business environment? Non-financial measures are necessary in today’s business environment because they are adequate to assess the performance of companies and their segments in this environment. Those measures can help management correct customer service problem in a timely manner. Quality may be more important than cost, timeliness more important than meeting budget or customer service more important than ROI. 2. How does the balanced scorecard approach differ from traditional approaches to performance evaluation? The balanced scorecard approach to performance measurement uses a set of financial and nonfinancial measures that relate to the overall strategy of the organization. It helps management to keep focus on all of a company’s critical success factors, not just its financial ones. Traditional approaches may only rely on historical data that are of little use for some
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This note was uploaded on 02/03/2011 for the course BUS 3101 taught by Professor Loyd during the Spring '09 term at Dallas.

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Chap14&15QuizBUS4113 - Amberton University BUS 4113...

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