There is a part a) and b) to this question. Assume the year 2021 has just finished. PIC is now asking you, the consultant that helped with the balanced scorecard in part 1 above, to explain its change in operating income from 2020 to 2021 in terms of the impact of its strategic initiatives (how much of the change in operating income was due to the change in market size, product differentiation and/or cost leadership).

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