At a recent management meeting at Bull Industries discussion turned to the work being done...
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Accounting
At a recent management meeting at Bull Industries discussion turned to the work being done on the development of a new balanced scorecard. CEO (Makenzi Taylor) stated: I know we have talked about the connections between metrics before, but I am really keen to know a little more; especially now that we have had the scorecard in operation for 12 months. Are we able to conduct some further analysis? For example, in the Retail Division,
how can we work out if there is at least some connection between say the number of customers entering the stores and sales revenue, say over an entire year?
One solution to address Makenzis query seeking evidence of a connection between the number of customers entering stores and sales revenue would be to:
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Prepare a strategy map showing the connections between the metrics in the scorecard.
Collect data on the number of daily customers entering stores and daily sales revenue over a year and use R to test for causation
Prepare a strategy map demonstrating the links between the objectives that drive metric selection
Collect data on the number of daily customers entering stores and daily sales revenue over a year and use R to test for correlation
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