Part 1: Explain why Balanced Scorecard is an important tool for managers to implement and achieve strategic objectives.(5 marks)

Part 2: It is important for managers to identify one or more measures for each of the 4 perspectives of Balanced Scorecard. Categorise each of the following potential balanced scorecard measures according to the following perspectives:(15 marks).

FFinancial

CCustomer

IInternal business process

LLearning and growth(a) Percentage of deliveries received by customers

(b) Market share

(c) Increase in sales from previous month

(d) Increase in costs from previous month

(e) Number of new patents developed by the company

(f) Number of manufacturing faults in products

(g) Number of people who hold doctorates (PhD) in the company

(h) Return on investment

(I) Number of kisses received from customers

(j) Number of kisses received from suppliers

(k) Time taken to clean office rooms

(l) Number of books on employees' desks

(m) Internet speed

(n) Labour hours used per product

(o) Number of invoices processed per hour