$19\mathrm{.}27$ Mission statement; strategy; balanced scorecard implementation

Squeezers Juice and Tea Company manufactures organic juices and chai teas that are sold at wholefoods stores. Several of its

products have been featured in movies because the company's products are popular with celebrities. The owners and

employees value organic products and innovative combinations of juices and teas with outstanding taste. Several employees

have found sources of unusual ingredients from organic farmers around the world. The ingredients are more expensive than

those used by other juice manufacturers. Although Squeezers cannot set unrealistically high prices, it focuses on high quality.

Demand for the entity's products is stable even though it sets the highest prices for juices in its market.

Recently, the costs of several unusual ingredients increased because of weather conditions. The owner is concerned that

increasing prices any further could reduce demand. She has taken a business workshop and learned about the balanced

scorecard. She wants to incorporate a balanced scorecard at Squeezers.

Required

$($a$)$ Draft a potential mission statement for Squeezers. Explain how you decided what should be included in the statement and

how it should be worded.

$($b$)$ Explain the entity's business strategy and core competencies.

$($c$)$ Identify several performance objectives for each of the four perspectives.

$($d$)$ Select two performance objectives for each of the four perspectives, and identify a potential performance measure for

each. Explain your choices.

$($e$)$ Describe possible methods to collect the data needed for each of the performance measures in part $($d$).$ For example, what

existing information might be available? What new record keeping might be required? Would the company need to

develop surveys?