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I am not sure how to handle the Balanced Scorecard questions in the exam. Should we use paragraph approach or we should make columns to answer these questions?
1) Identify the information about the company given in the question and select the relevant Goal for relevant Perspective to the available data.
2) Measure the ratios for the relevant perspective(s) to see whether we have achieved the goal or advise something that improves company’s objective.
3) Comment on the goal whether it is achieved or not; And if it isn’t achieved how it could be improved if company’s prefer this or that.
Is that good enough for Balance Scorcard questions?
Whether or not you deal with all three points that you have listed obviously depends on exactly what the question requires.
As to the layout of your answer, it is best to write it in paragraphs (creating columns using the word-processor you are provided with in the exam will be difficult and time-consuming).
Best is to practice the questions on this in your Revision Kit, and see how they have set out their answers.
If we are told to evaluate the performance of the company. DO we have to calculate GOALS and MEASURES from the given information about the company or we will be told about the goals and measures of the company in the given question?
Secondly, we need to evaluate non-financial indicators of the balanced scorecard and comment on whether the company has achieved its goal or not?
Since I don’t find many questions on this topic in my examkit (maybe two at least) but they didn’t really answer the question that I asked you above. Are we frequently tested on balance scorecard and building block model from section C long questions nowadays?
The most likely sort of question is one where you will be given information about the company – both their overall goals, and extracts of both financial and non-financial information, and then asked to comment on the overall performance. It is quite often asked in Section C, but in Section C questions you it is less likely that you will be required to categorise them under the headings in the Balanced Scorecard.
I do not know which kit you are using, but the BPP Revision Kit has many Section C past questions testing financial performance and/or non-financial performance.
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