W8 Discussion #1
Accounting
There are significant differences between large and small organizations – this week we read about the decentralization that is typically present in large organizations. We were introduced to the Balanced Scorecard, which is used to help managers make better decisions with more current data. The authors used the example of Hyatt Hotel chain, in which the employees at a specific site (Maui) are authorized to make the decision regarding a hotel guest’s checkout time.
Let’s discuss how this might play out…provide an example of how a late checkout would impact the organization’s goals.
What are the relevant data that contribute to this decision? How does the Balanced Scorecard help with the decision-making process? What is the ROI for this decision?
In your replies to your peers’ posts, use your critical thinking skills to determine if all pertinent points were covered. Ask for clarification if there were points that you did not understand.
Finally, in your reply post, explain how the use of ROI alone can lead to bad decisions.
Discussion #2
Accounting
This week, you were asked to access a number of videos and websites. These are great resources to help you learn the materials this week. Consider what type of resource you find most helpful in learning new materials (videos, examples, text, etc). Then consider which topic you struggled with the most this week. Complete an online search for a new resource that will help you with that topic. For example, if you learn best from videos and you struggled with the topic double entry accounting, then complete an online search for “double entry accounting videos”. If you learn best by examples, search for “double entry accounting examples”. Select one of the items you find in your search that you found particularly helpful in learning the topic you struggled with the most and post a summary of the resource and a link to the resource.
INITIAL POST
Cite and summarize the resource.
Read
Chapter 12
https://online.vitalsource.com/#/books/9781259730061/cfi/6/50!/4/2/2/[email protected]:0
Video: The Balanced Scorecard https://www.youtube.com/watch?v=biyGxEix5Zs
Video: Return on Investment (ROI) https://www.youtube.com/watch?v=IjvfFLTrL8g
What is “Return On Investment – ROI”? https://www.investopedia.com/terms/r/returnoninvestment.asp
Using the Balance Scorecard as a Strategic Management System https://hbr.org/2007/07/using-the-balanced-scorecard-as-a-strategic-management-system
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