QUESTION 2 [25 MARKS] Fresh Pastries Ltd ("FP") was founded in January 2020 and is one of the fastest-growing bakeries in the country of Legoland. Beyond its profit-making objectives, FP's vision is to "give back to its customers". It achieves this by putting its customers' needs first. Recently, FP has built a wheelchair ramp to improve access for the disabled to its outlet. Also, it has trained its staff to service visually-impaired customers. FP's purpose is to "help the people, businesses and communities in Legoland to live better lives and achieve their ambitions". In order to achieve this, FP employs staff from marginalized communities in Legoland. It also acts fairly and responsibly at all times. The bakery has recently decided to implement a balanced scorecard approach to performance measurement. (a) Define the balanced scorecard and describe each of its perspectives. [6 marks] (b) Explain THREE (3) reasons why the balanced scorecard approach is more useful to measure the performance for Fresh Pastries Ltd than a traditional approach using solely financial performance measures. [6 marks] (c) For each perspective of the balanced scorecard, list TWO (2) goals along with corresponding performance measures which could be used by Fresh Pastries Ltd to measure the company's performance. [8 marks] In February 2022, Fresh Pastries Ltd has implemented the concept of reward schemes to motivate its employees to perform better. (d) Explain TWO (2) advantages and THREE (3) disadvantages of reward schemes. [5 marks]