MP6 – Performance Measures

After two years of operating your business, you have determined that you are not sure how successful your business is. In order to address this concern, you have decided that you need to identify a strategy for your business and to develop a performance measurement system to determine if your business is successful. 1. Describe a business strategy that you feel would be best to make your business successful. The topic of strategy was introduced in your text on page 11 and is also discussed on pages 432-437. You may also want to do some simple internet research on the topic of strategy. Once you have described the strategy you would employ, explain why you feel your strategy will work. 2. Prepare a Balanced Scorecard similar to Exhibits 9-3 and 9-4 from your text. For each of the four groups of performance measures (financial, customer, internal business processes, learning and growth), you should identify 2-3 performance measures (use Exhibit 9-4 as a guide). Your balanced scorecard must reflect and support your strategy. 3. Prepare a cause-and-effect chart similar to Exhibit 9-5. Your cause-and-effect chart must reflect and match your balanced scorecard. Preferred language style Simple (Easy vocabulary, simple grammar constructions)

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