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New Norfolk Ltd buys T-shirts in bulk, applies its own trendsetting silk-screen designs and then...

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Accounting

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New Norfolk Ltd buys T-shirts in bulk, applies its own trendsetting silk-screen designs and then sells the T-shirts to a number of retailers. New Norfolk wants to be known for lts trendsetting designs, and it wants every teenager to be seen in a distinctive New Norfolk T-shirt. New Norfolk presents the following data for its first two years of operations, 2021 and 2022: Administrative costs depend on the number of customers that New Norfolk has created capacity to support, not on the actual number of customers served. New Norfolk had 3600 customers in 2021 and 3500 customers in 2022. Required 1. Identify the strategy that management at New Norfolk has adopted and explain your answer briefly. [ 5 Marks] 2. Describe briefly the key elements that management should include in its balanced scorecard for New Norfolk and give reasons for doing so. [5 Marks] [Total marks for Question 5: 10 marks]

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