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Mark & Spencer - Essay Example
Author : walterbertha
Finance & Accounting
Pages 9 (2259 words)
Mark & Spencer Executive Summary This framework was developed by Professors David Norton and Robert Kaplan as a performance measurement framework that adds certain non-financial performance measures along with the traditional financial performance measures that helps the managers and executives of an organization to have a much broader and balanced view of the organization’s performance…
In this respect, firstly the current objectives and strategy of the organization has been identified and based on which the future objectives and the ways in which they can be measured are prepared. While preparing this, the four perspectives of balanced scorecard has been taken into consideration. The objective mainly concentrates on gaining profitability in the business, increasing customer satisfaction and base, increasing the employee satisfaction and retention and finally creating values for the stakeholders. In order to achieve these objectives, the strategic map has been developed and recommendations have been made to the board of directors. Balanced scorecard has been proved to be the most efficient way in designing strategies, through which the organizational objectives can be achieved. At the same time this organizational objectives will be conveyed to the departmental level. The management can also use this in reviewing the strategies and making changes to them. Table of Contents Executive Summary 2 1. Introduction 4 2. The vision and strategy 4 3. ...