Southern Cruises Ltd, which operates in a very competitive marketplace, is considering four categories of performance measures: (i) profitability (ii) customer satisfaction (iii) efficiency and quality and (iv) innovation. The company assigns one manager to each ship in its fleet to oversee the ship's general operations. If Southern Cruises Ltd desired to adopt a balanced scorecard approach, which measures should it use in the evaluation of managers?
A) i and ii
B) ii and iii
C) i, ii and iv
D) All of the given answers

Question

Quizplus · Accepted Answer

To adopt a balanced scorecard approach, Southern Cruises Ltd should use all performance measures, i.e. profitability, customer satisfaction, efficiency and quality and innovation, in the evaluation of managers. This would ensure that managers are not only focused on financial results but also on improving customer satisfaction, efficiency, quality and innovative initiatives for the company's long-term growth and success.

Southern Cruises Ltd, Which Operates in a Very Competitive Marketplace