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Hi john sir, John sir guide me about the following.
Q#1 A government body uses measures based upon the ‘three Es’ to the measure value for money generated by a publicly funded hospital. It considers the most important performance measure to be ‘cost per successfully treated patient.
a. Economy
b. effectiveness
c. efficiency
d. externalityQ#2. A government is looking at assessing state schools by reference to a range of both financial and non-financial factors, one of which is average class sizes. which of the three E’S best describes the above measures?
a. economy
b. effectiveness
c. efficiency
d. externalityQ#3. A company monitors the % of total sales that derives from products developed in the last year. Which part of the balance scorecard would this metric be classified under?
a. financial perspective
b. customer perspective
c. internal
d. learning perspectiveQ#4. The use of the balanced scored rather than a profit based measure is likely to help solve the following problems:
1. subjectivity
2. short-termismJohn sir what is meant by subjectivity.
John sir i know the concepts but i am not able to implement these. Please guide me in your wording in detail. Your words are understandalble. Thanx
Q1: Effectiveness measure how successful they are. (externality is not one of the three E’s; efficiency is how well they se resources; economy is paying a fair price)
Q2: Efficiency (see answer to Q1)
Q3: Learning (improving)
Q4: Subjectivity is when you are focussing on one thing instead of on the overall picture.
Hi, john sir how r you? Thanx for your kind reply john sir.
What will be answer to question 1? still facing problem. What will be the correct option for question 1? Is it effectiveness?
For question 4…Does balance scorecard solve the both problems like subjectivity and short-termism?
Thanks john sir for your kind reply. John sir question number 1 is from kaplan kit. John sir in kaplan for question 1 answer is stated as follow.
Cost per patient is a measure of otuput related to input. ( Correct option is efficiency)
But according to you it shows effectiveness. Why its is effectiveness not the efficiency. it is confusing me. Thanx john sir. plz give me your expert opinion.Sorry – the book is correct.
(I read it too quickly 🙁 )Costs per successfully treated patient is a measure of efficiency – how well we are controlling the costs.
I read it too fast as being percentage of successfully treated patients – this would be effectiveness (how good we were at making them better).
Thanx john sir, no issue john sir, i got it. Thanx again for your kind reply. God bless you. we student can only pray for you.
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