Hi John, Q4 asks which of 4 options is NOT a K&N perspective out of: Growth, Financial Success, Process Efficiency, Quality.
From your lectures and the notes, the 4 perspectives are: Growth, Financial Success, Internal Business, Customer.
Therefore BOTH "Process Efficiency" and "Quality" are clearly not perspectives and the question is unanswerable. Do you agree?
K
KEVIN·
Sir Question No 5.
Is it asking about the food wasted by customers or wasted while preparing the food by chefs? If the food is wasted by Customers, Customers satisfaction makes sense, if the wastage is by the internal team then Process efficiency makes sense. So confusing .
J
John MoffatTutor·
If customers do not eat all the food, then it doesn't affect the business because they will still have paid for it and maybe they didn't eat it because they were full. Whether or not they eat anything doesn't measure how satisfied they were with the food.
K
KEVIN·
So basically the question is asking about the wastage during the process of preparing the food right?
J
John MoffatTutor·
Correct.
N
Naomi·
hello sir
in the balanced scorecard there are 4 perspectives being customer, internal business, learning & growth and financial. how is process efficiency a perspective or does it fall under internal business perspective? this is based on question 5
J
John MoffatTutor·
Ievanrich: No - it does not need the word only. Writing 'should' means that there must be some financial element in the measure, but in fact some measures do not contain any financial element.
L
Levan·
My query goes to question 3.
they should be measured in financial term. this is not saying that they are only measured in financial term. Measuring them in financial term is a means of measuring it but saying "should" does not mean its the only way. So, should be changed to only in the question.
S
shanif·
sir i have a question about Q1 is he talking about "efficency" because if we utilise resource more effiecently average time will be reduced right?
J
John MoffatTutor·
Yes, although the Balanced Scorecard doesn't have efficiency as one of the perspectives.
Have you watched the free lectures on this.
S
shanif·
sir i have already watched your lecture before attempting test now i got it :)
J
John MoffatTutor·
Great :-)
S
Simon·
Sir, I have a question about Q4:
I wonder why quality isn't a perspective for I deem quality is included in Internal business. And I want to know why growth is a perspective ?
Would you please explain it for me?
J
John MoffatTutor·
Both of your questions are answered in my free lectures on non-financial performance measurement.
S
Simon·
Sorry, I've just watched your lectures and I know the reason now. However, I still what to know why 'quality' is wrong because I think it's involved in 'customer' ?
J
John MoffatTutor·
The Balanced Scorecard lists four perspectives and quality is not one of them.
The Customer perspective will certainly cover quality, but quality itself is not listed by Kaplan and Norton as a perspective.
K
khuramch·
sir i have lil confusion..
Efficiency is something how fast our labour perform the work to achive customer objective but Waste of food is not customer objective
PLz explain it for me..
J
John MoffatTutor·
Efficiency is looking at how well we use all our resources - not just labour but the materials as well. In the case of a restaurant, food is the material.
Wasted food is food that is thrown away in the kitchen (because they bought too much or maybe because they dropped it on the floor) and they want that to be as little as possible. It does not affect the customer (it does not mean food that they left on their plate :-) )
K
khuramch·
Awww..ok ok now i understand..Thanks alot Sir
As english is not my mother language thats why some time this type of problems occur :-)
From your lectures and the notes, the 4 perspectives are: Growth, Financial Success, Internal Business, Customer.
Therefore BOTH "Process Efficiency" and "Quality" are clearly not perspectives and the question is unanswerable. Do you agree?
Is it asking about the food wasted by customers or wasted while preparing the food by chefs? If the food is wasted by Customers, Customers satisfaction makes sense, if the wastage is by the internal team then Process efficiency makes sense. So confusing .
in the balanced scorecard there are 4 perspectives being customer, internal business, learning & growth and financial. how is process efficiency a perspective or does it fall under internal business perspective? this is based on question 5
they should be measured in financial term. this is not saying that they are only measured in financial term. Measuring them in financial term is a means of measuring it but saying "should" does not mean its the only way. So, should be changed to only in the question.
Have you watched the free lectures on this.
I wonder why quality isn't a perspective for I deem quality is included in Internal business. And I want to know why growth is a perspective ?
Would you please explain it for me?
The Customer perspective will certainly cover quality, but quality itself is not listed by Kaplan and Norton as a perspective.
Efficiency is something how fast our labour perform the work to achive customer objective but Waste of food is not customer objective
PLz explain it for me..
Wasted food is food that is thrown away in the kitchen (because they bought too much or maybe because they dropped it on the floor) and they want that to be as little as possible. It does not affect the customer (it does not mean food that they left on their plate :-) )
As english is not my mother language thats why some time this type of problems occur :-)