MNG3702 October Examination 2024

MNG3702
OCT/NOV EXAM 2024
UNIQUE NO.
DUE DATE: 15 OCTOBER 2024

, Question 1

1.1 Elements of the Balanced Scorecard (BSC)

 Financial Perspective (1 mark)
 Customer Perspective (1 mark)
 Internal Business Processes Perspective (1 mark)
 Learning and Growth Perspective (1 mark)

1.2 Strategic Objectives for Each Element of the BSC

 Financial Perspective:
Strategic Objective: Increase profitability by expanding into new eco-friendly
textile markets and reducing production costs by adopting sustainable
technologies.
Alignment: This objective is aligned with Green Threads' goal to improve financial
performance and achieve carbon neutrality by 2030.
 Customer Perspective:
Strategic Objective: Achieve a 96% customer satisfaction rate by 2030 through
innovative, high-quality, and eco-friendly products.
Alignment: This supports the company's vision of delivering sustainable products
and enhancing customer satisfaction.
 Internal Business Processes Perspective:
Strategic Objective: Improve operational efficiency by adopting advanced
production processes and reducing waste to achieve zero waste by 2030.
Alignment: This is in line with Green Threads' commitment to sustainability and
leadership in eco-friendly practices.
 Learning and Growth Perspective:
Strategic Objective: Foster innovation and employee development through
continuous research and development, focusing on sustainable product creation.
Alignment: This aligns with the company's goal of introducing at least one new