Review the Example and Practice sections of the Balanced Scorecard Module to practice reading and evaluating the information september 2023

MGT 521 Week 6 Individual Assignment Planning and Measuring Performance
Review the Example and Practice sections of the Balanced Scorecard Module to practice reading and evaluating the information it presents. Complete the Assignment section of the Balanced Scorecard Module to evaluate the performance of the organization against established standards. Complete the following: Identify the performance gaps. Recommend actions to reduce performance gaps. Note. The Balanced Scorecard Module will give you an option to save your assignment in a document on your desktop. (Any assignment submitted as an .htm document will not be accepted for grading; therefore “0” points would be earned.) Your paper will include the following: Title page Introduction Balanced Scorecard (copy and paste into your document) Conclusion References page Click the Assignment Files tab to submit your assignment. Now that you have seen how to use a balanced scorecard to identify gaps and develop recommendations, complete the following practice exercise. Given a new scenario, balanced scorecard, and some gaps and recommendations, determine the missing gap and recommendation. The balanced scorecard shown below is for the art department of Sherman Ceramics, a large corporation that manufactures collectible ceramic figurines based on comic book, television, and film characters. The company has an automated assembly line to manufacture the figurines, but most of the work done in the art department is by hand, since the figurines are produced in small runs and are considered to be exclusive collectibles. The employees of the art department hand paint the features and apparel on the figurines, as well as any accessories that accompany the figurine. The corresponding price point for these items is high, and they are generally sold in independent comic book stores and through online sites, although certain national toy store chains carry the figurines as well. The art department currently has a staff of 40 employees and 5 managers; the managers all served as line staff in the assembly department prior to their promotions. Art department employees are generally high skilled in their field, but they tend to not have degrees in higher education. Aspect of Company Performance Factors to be Considered Organizational Goal (per quarter) Actual Performance (most recent quarter) Financial Return on Investment Return on Capital Employed 90% 95% 80% 90% Customer Customer Satisfaction Rate Customer Retention Rate 95% 90% 98% 95% Internal Processes Duplicate Activities Across Functions (percent of the activities completed that are duplicated in another function) Process Bottlenecks (percent of the process that becomes bottlenecked in an average run cycle) 30% 40% 40% 60% People Innovation Growth Assets Employee Turnover Employee Job Satisfaction 20% 90% 25% 60% Balanced Scorecard ? Practice Aspect of Company Performance Factors to be Considered Organizational Goal (per quarter) Actual Performance (most recent quarter) Gaps People Innovation Growth Assets Employee Turnover Employee Job Satisfaction 20% 90% 25% 60% ? Please select the answer that most accurately identifies the gaps for the art department of Sherman Ceramics in the area of People/Innovation/Growth Assets. A Employee turnover was higher than anticipated (30% versus 25%), while job satisfaction was lower (90% versus 60%). B Employee turnover was lower than anticipated ( 20% versus 25%), while job satisfaction was higher (40% versus 60%). C Employee turnover was higher than anticipated (25% versus 20%), while job satisfaction was higher (60% versus 90%). D Employee turnover was higher than anticipated (25% versus 20%), while job satisfaction was lower (60% versus 90%).

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