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The Balanced Scorecard - Essay Example

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The Balanced Scorecard

10 Under the financial perspective, the company shall focus on satisfaction for shareholders. The main objectives set in providing shareholder satisfaction include increasing customers, new products and orders for products. The company has set targets in terms of percentage increases which must be attained within a trading year. All the targets provided for various perspectives have annual time duration for reaching these targets. On the customers’ perspective, the major focus remains delight of customers where the objectives have been identified as increasing customer referrals and reducing complaints. In enhancing growth and learning the company has identified staff motivation as the major issue. This motivation shall occur through offering training aimed at improving the employee skills significantly. This is expected to reduce turnover of employees within the organisation. Through training, the company shall be able to offer better services following enhancement of employee skills 10 5.Performance management 10 6.Consideration and impacts of the business strategy 12 7.Conclusion 12 References 13 Appendix 3 strategic map 15 1. Introduction Many companies within the apparel industry opt to undertake globalisation independently in order to maximise on the profits resulting from globalisation. The numerous risks involved in globalisation, however could be minimised through joint ventures with existing companies. This report provides an in-depth analysis of I.T. limited, a Chinese global fashion design company. The strategies adopted by the company in becoming a global fashion products dealer are extensively analysed to determine the benefits of each strategy. Similarly, the report also identifies the weaknesses existing within the strategies adopted by the company seeking global recognition. Through joint ventures and multiple partnerships, the company has achieved a significant level of globalisation in a highly competitive industry. A swot analysis of the company operations identifies the various positive and negative effects of the current company position. 2. Company background I.T Limited is a registered limited investment holding company in china. The company engages trading in fashion items and accessories associated with the apparel industry. Though registered in china the company has numerous international connections outside china. The company utilises branding in the operations outside the People’s Republic of china. Among the major international connections for the company include French connections even in Asian countries and European countries as well. The company operates in different countries like Hong Kong and the people’s republic of china through joint ventures with other countries. These joint ventures and international connections have enabled the company to become global, while minimising the risk involved in globalisation. This holding company has managed to have a global outlook through the various joint ventures, consequently providing considerable business expansion. 2.1. Business scope The company is registered as a limited holding company within the people’s republic of china. The company mainly engages in selling of fashion items and fashion related accessories. The company has its own product brands licensed under the international trademarks like Underground and Hyoma, ...Show more

Summary

BALANCED SCORECARD Name University Professor Table of Contents Table of Contents 2 1.Introduction 2 2.Company background 3 2.1.Business scope 3 2.2.External environment 4 2.3.Company vision and mission 5 2.4.Swot analysis 5 2.5.Business strategy 6 3.Strategic map 6 4.Balanced scorecard 8 The BSC is based on four major strategic perspectives namely, financial, customer, internal processes and learning & growth…
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The Balanced Scorecard essay example
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