Answer All Questions

PART 1 (550 words)

The production manager of Altis Sdn Bhd recently said:

‘Qualitative factors do not play an important role in relevant cost analysis. We should focus more on quantitative factors as outcomes can be measured in numerical terms.’

With reference to the production manager’s statement above, please provide your comments by stating the relevancies of the quantitative and qualitative factors for flexibility in making decision related to cost analysis. Give an example to illustrate your answer.

PART 2 (550 words)

Almost every organization, regardless of size, complexity or sector, depends heavily on budgets and budgetary systems to achieve their strategic goals since it involves the establishment of predetermined goals, the reporting of actual performance results and evaluation of performance. in terms of the predetermined goals. Define and discuss the functions of budget committee that can be implemented in Hakim Sdn Bhd to improve the preparation of their budgeting process.

PART 3 (650 words)

The Balanced Scorecard (BSC) is a strategic planning and management system that is used extensively in business and industry, government and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. BSC is a framework that focuses on shareholder/financial, customer, internal processes and learning requirements of a business in order to create a system that linked the objectives, measures, targets and initiatives which collectively describe the strategy of an organization and how that strategy can be achieved.

Required:

You are expected to search THREE (3) journal research articles related to the Balance Scorecard (BSC). Based on these research articles, you are required to give your opinion with justification on the questions below.

Research acknowledges that the implementation of BSC has a significant impact on organizational performance. Discuss what benefits will the company receive from using BSC as a tool for measuring its performance? How does BSC help improve organizational performance? What are the factors influencing the implementation of BSC in organizations?

*** Words count = 1750 words.

*** In-Text Citations and References using Harvard style.