You have been elected president of your university\'s newly chartered accounting

Question

You have been elected president of your university's newly chartered accounting honor society. The society is a chapter ofoa a national organzation that has the following mission; " To promote the profession of accountanct as a career and to imbue members with high ethical standards."

a. Determine the balanced scorecard categories tht you believe would be appropriate for the honor society.

b. Under each category, determine between four and six important performance measures.

c. How would you choose benchmarks against which to compare your chapter to other of the national organization?

Explanation / Answer

A. Appropriate categories: The below are the categories that are appropriate for the honor society. The below are the categories that are appropriate for the honor society. 1. Internal prospective: This is the prospective designed to reach the goals by the way of identifying required competencies. This is the prospective designed to reach the goals by the way of identifying required competencies. 2. Innovation and growth prospective: This prospective is designed to reach the goals by the way of enhancing the innovation, learning process, and regular improvements in the rpocess of learning. B. Performance measures: 1. a. Business process that have the greatest impact on customer satishfaction. b. what competencies are needed to maintain market leadership. c. performance- how companies services are creating value to its customers. d. quality- defect level of services. 2. a. Ability to innovate, improve and learn b. launch new products/services. c. more value for customers d. penetration of new segments / markets 1. a. Business process that have the greatest impact on customer satishfaction. b. what competencies are needed to maintain market leadership. c. performance- how companies services are creating value to its customers. d. quality- defect level of services. 2. a. Ability to innovate, improve and learn b. launch new products/services. c. more value for customers d. penetration of new segments / markets C. There should be well standards for comparing the performance of the concern, for that the concern has to set benchmarks. Here the organisation has to set the benchmarks based on the following measures; - standards of the concern - mission and vision of the concern - performances of the same line companies - performance of the industry.

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