(3) Critically evaluate how benchmarking can support the implementation of the balanced scorecard system and help the Economy Divi

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(3) Critically evaluate how benchmarking can support the implementation of the balanced scorecard system and help the Economy Division and Luxury Division to drive and achieve their strategy. Give one example to each of the benchmarking method discussed.

The following questions are based on the pre-seen case study "TWA Parts (Abridged)".

Answer ALL questions

(1)  "…we`ve decided to differentiate ourselves in the economy division by producing high-quality car parts with the lowest lifetime cost (p.2).

In the luxury division, our strategy will be to produce the most innovative, quality parts in the market" (p. 2).

Evaluate the 2009 performance of the Economy Division and Luxury Division and discuss whether they have achieved their strategy.  Use examples from the case study to support your evaluation and discussion.

(12 marks)

(2)  … each division will emphasize its own value proposition and an implementation plan and measurements that can keep us on track" (p. 3). 

Assess the usefulness of the strategic map and the 2009 balanced scorecard in guiding and driving the Economy Division and Luxury Division to address their customers` value proposition and achieve their respective strategy. 

Suggest one additional objective and a related measure to each perspective of the two divisions` balanced scorecards.  You must explain your suggestions. 

(18 marks)

(3)  Critically evaluate how benchmarking can support the implementation of the balanced scorecard system and help the Economy Division and Luxury Division to drive and achieve their strategy.  Give one example to each of the benchmarking method discussed.

(10 marks)

(Total 40 marks)