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The Balanced Scorecard - Essay Example

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The Balanced Scorecard

This direction is centrally provided in four dimensions which include financial, customer, internal process and learning and growth perspectives. SASA is an International Holdings Limited retailing group providing cosmetics. It is incorporated in Hong Kong, now enjoys the position of leading cosmetic provider from Asia. The success of SASA like any other business is the reflection of the effective strategic management. For continuing the practice of effective strategic management, the underlying report develops the Balance Score Card for the SASA Company for the further organized and effective strategic management. Hence, the accounting manager of SASA presents BSC plan to the strategic management of the company. COMPANY REVIEW Established in 1978 in Hong Kong, SASA now owns over 600 brands with 17,000 products to fulfill the customer’s cosmetics needs. SASA now successfully serves customers on more than 270 counters including stores and other options. In additional, service to customers is also provided on online platform. Euromonitor 2013 rated SASA the largest cosmetic chain among the top 500 retailers of Asia and among the top ten Hong Kong’s retailer groups (SASA, 2013a). ...
Under this domain, Sa Sa has around 260 multi brand store and seven specific specialty store in addition to the online service. The brand Management section encompasses nearly 100 brands exclusive and is only brand manager in Hong Kong (SASA, 2013a). EXTERNAL ENVIRONMENT Cosmetic industry in Hong Kong is dominated by the imports from foreign market including France (US $1.7 Bn 2012) and USA (US$ 425 Bn in 2012). Hence, market is dominated by the foreign market; therefore, offers attractive potential for growth for the brand management section of the Sa Sa. The forecasted growth for future of the mentioned import is 13 percent and 15 percent in 2013 and 2014 respectively. Nearly, 35 million tourists from China in 2012 landed and offered potential to the Hong Kong market of Cosmetics and offers wide expansion opportunity to the locals businesses and foreign brands. It is important to mention, that though the potential to growth is extensive as no import duties are charged; however, the market is very competitive and top ten cosmetic provided hold 70 percent of the market (Export. gov, 2013). MISSION The mission statement of SASA clearly identifies its way of doing business. Mission identifies clearly that business concerned to work in four dimensions that include customers, employees, suppliers and overall society (SASA, 2013b). Every strategy of SASA is directed by leveraging expertise and benefits to and from these four pillars of SASA. VISSION The vision of SASA is to develop expanded foot prints with retail value added cosmetics and professional beauty expert service provider in the global market with central focus in mainland in China (SASA, 2013b). INTERNAL STRENGTHS ASSESSMENT (SWOT) Sa Sa is well reputed brand of Hong Kong in cosmetics industry. ...Show more

Summary

BALANCE SCORE CARD FOR SASA INTRODUCTION With every passing day the competitive landscape of every industry in increasing its intensity. This requires organizations to equip themselves strategically to sustain and enhance their position in the market. Additionally, organizations are required to be effective on multiple fronts to generate the desired position as set in the vision; hence, companies are now concerned and directed to implement systematic plans for the purpose…
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