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The Balanced Scorecard - Essay Example
Finance & Accounting
Pages 9 (2259 words)
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…
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. ...
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