MNG3702 October Final Exam 2024 (ANSWERS)

MNG3702
OCT/NOV EXAM 2024
UNIQUE NO.
DUE DATE: 15 OCTOBER 2024

, Question 1

1.1 Elements of the Balanced Scorecard (BSC)

1. Financial Perspective
2. Customer Perspective
3. Internal Business Processes Perspective
4. Learning and Growth Perspective

1.2 Strategic Objectives for Each Element of the BSC

 Financial Perspective: Strategic Objective: Increase revenue and profits by
expanding market share in eco-friendly textiles and achieving financial
performance goals by 2030.
 Customer Perspective: Strategic Objective: Enhance customer satisfaction and
retention by achieving a 96% customer satisfaction rate and 55% customer
retention by delivering high-quality, sustainable products.
 Internal Business Processes Perspective: Strategic Objective: Drive
operational efficiency by leveraging advanced textile production processes and
sustainable practices to achieve zero waste and carbon neutrality by 2030.
 Learning and Growth Perspective: Strategic Objective: Foster innovation and
development by introducing at least one new sustainable product annually,
ensuring continuous learning and adaptation to technological advancements.

Question 2

2.1 Definition of Absorptive Capacity

Absorptive capacity refers to an organization's ability to recognize the value of new
external information, assimilate it, and apply it effectively to achieve commercial or
organizational goals. It involves the processes of acquiring, assimilating, transforming,
and exploiting knowledge to create value.