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Finance and accounting : Go Ahead Plc - Essay Example

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Finance and accounting : Go Ahead Plc

This in turn has been made possible through the use of a tool called Balanced Scorecard. The report has been structured in a logical flow starting with the vision statement and the strategy the company needs to adopt in order to be en route of achievement of its vision in the long run. Later, the report provides a detailed balanced scorecard tailored according to the vision and the needs of company. It provides all four perspectives where organization needs to focus on in a proportionate and balanced manner. This is followed by a Strategy Map which is merely an extension of the scorecard, highlighting the strategies required to be implemented in order to meet each goal identified therein. Afterwards, the report contains recommendations made to the board of directors which are shaped to reflect all the prior observations, targets and strategies determined in the scorecard and strategy map. Additionally, the report provides an insight of the practical uses of balanced scorecard in various industries and companies of all sizes, alongwith its pros, cons and limitations. To: The Board, Go Ahead Group Plc. From: Subject: Vision statement, balanced scorecard and strategic map along with recommendations The following report covers all agendas to be considered, including balanced scorecard, vision statements, strategy gaps, recommendations to board and further discussion over how balanced scorecards can be used effectively in a company along with their limitations that render them lesser effective. Introduction Go Ahead Group Plc is engaged in the business of public transportation and currently holds largest market share in its sector. The entity visualizes itself to be a cost leader in the future market with a loyal customer following and a quality brand name. It is a profitable concern and conducts its business in a socially and environmentally responsible manner. It aims at securing market niches in urban and other similar areas and has an ever-growing clientele due to prime focus on customer satisfaction, quality standards and strict punctuality. The organization has been concentrating more on non-financial indicators lately to improve in those areas, enhancing its public profile instead of merely emphasizing on financial measures like profitability. The entity also has good liquidity position and no going concern issues. Vision & Strategy Vision At Go Ahead, customer satisfaction is our biggest motivating factor! We believe in providing reliable services on timely basis at lowest fares without compromising the quality standards. We take our business seriously and enforce safeguards against any ripples, created in the process, affecting our precious environment, our employees, our customers and the public at large. Strategy Our vision has been strategically incorporated into our business dealings and our practices and processes are designed precisely to reflect our ideology. These include: Objective Strategy Cost reduction Controlling costs by ...Show more

Summary

Finance and Accounting Class Introduction to Finance & Accounts M004 (D01) Course Work 2 (CW2) April 2013 Student ID: Individual End-of-module Report Go Ahead Group Plc Table of Contents Topics Page Executive Summary_ 3 Introduction_ 4 Vision & Strategy_ 5 Balanced Scorecard_ 7 Strategy Map_ 12 Recommendations to the Board_ 16 Use of Balanced Scorecards_…
Author : myrna04
Finance and accounting essay: Go Ahead Plc essay example
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