Problem: In this activity you will work on the balanced scorecard as a basic tool for management control. Through the activity, you will be able to see its function, as well as the possibilities for improvement it may have for a specific case, at the same time as thinking about the applicability and advantages of the scorecard for the entire company. Description of the activity and instructions In the case-study presented, the company we are going to work on is the Chemical Bank, a financial institution. This company is in a difficult context that means making changes to certain habits, linked to the use of indicators and the scorecard to improve its performance. The questions that follow are intended to help students focus on the key elements as they read the case. The following questions must be answered:
Why did Chemical Bank need indicators that were not only financial?
What did Mike Hegarty do to meet the criteria of the scorecard?
Discuss the implementation of the scorecard in the company. Managerial Accounting (code MBA520) Actividades 2 © MIU City University Miami
What are the strengths and weaknesses of the scorecard that was used by the bank?