The study will identify the measures to be taken for fulfilment of the objectives followed by the recommendations to Chevron for achieving the target. The study will also reflect the strategy mapping for Chevron Corporation followed by the link between each perspective (financial, customer, internal business process, learning & growth) and the perspectives and the objectives. In this study, it will be shown that how the four perspectives of balance score card are linked to each other and how the perspectives and objectives are linked to each other. Finally the study will be concluding with a critical analysis of the balance score card and the limitations of the balance score card. Table of Contents Executive Summary 2 Table of Contents 3 Introduction 4 Vision of Chevron 4 Strategy 5 Designed Balance Scorecard 5 Balance of Balance Score Card 10 Strategy Map 12 Links within Each Perspective and the objectives 13 Recommendation 14 Balance Score Card: A Critical Analysis 15 Limitations of Balance Score Card 16 Works Cited 17 Name of the student Name of the professor Course number Date Introduction Chevron Corporation is a multinational energy corporation whose headquarter is located in San Ramon, California. The company operates in more than 180 countries and is engaged in gas, oil and other geothermal sectors including production, exploration, marketing, chemicals manufacturing and power generation. It is one among the six major oil companies. From last five years, the company has been ranked as the third largest corporation (in Fortune 500) in America. Chevron is considered to be one of the largest corporations, in terms of revenue. Vision of Chevron The vision statement of Chevron is “At the heart of The Chevron Way is our vision …to be the global energy company most admired for its people, partnership and performance" (Chevron, “The Chevron Way”). The values of Chevron Corporation are: Integrity The company performs its operations with integrity and meets the highest standards of codes and ethics in its business dealings. The company believes in keeping its commitment and accepting the responsibilities (Chevron, “Values”). The company holds itself accountable for its work and its actions. Diversity Chevron respects the culture in which it works and learns from it. It values and respects the uniqueness of the individual and their varied perspectives and the talents they possess. It has an inclusive working environment. Protecting the people as well as the environment The company places its highest priority on the safety of the work force and the protection and proper care of its assets and environment (Chevron, “Corporate Responsibility”). The company aims to be admired for the world class performance by means of the Operational Excellence Management System. Trust The management and the employees of Chevron believe in respecting and supporting each other and they strive for earning the trust of the partners, the colleagues and the customers. Ingenuity The company seeks opportunities out of ordinary solutions. It utilises the creativity of the employees to find practical ways of solving problems. High performance The company is committed to the excellence in its performance. It strives to improve consistently and achieve results that exceed the expectations. Strategy Chevron states that its capital
Balance Score Card and Strategy Map Executive Summary The study has been prepared for understanding the utility and functioning of the balance score card in an organization. The balance score card is a strategic management tool which helps in evaluating the performances related to the financial as well as non financial factors, used extensively in many industries, businesses and other non profit seeking organization…
A balanced scorecard from the published financial statements of John Lewis
John Lewis Partnership, being one of the main retailers in UK, was created by John Spedan Lewis as a company focused on the happiness and satisfaction of the staff (John Lewis plc, 2011).
Balance Scorecard and Strategy Map of TESCO. Kaplan and Norton formulated the balanced scorecard strategy and the strategy map in the 1990s. Since then many businesses have implemented this strategy and management tool and have witnessed success. This report tries to look into the ways in which Tesco Plc has implemented this method in the day to day business and the management decision making process.
It thus explores the background information of Homebase Retail Company to establish the organizations present position of the organization in alignment with its future objectives.
The analysis presents the balanced scorecard of Homebase Retail Company in four distinct sections
The popularity is due to its emphasis on the linkage of measurement to strategy and cause and effect linkages that outline the hypotheses of the strategy. It also shows the changing nature of technology and competitive advantage. Modern
iding accurate and appropriate information in the Middle East region.The second objective of the company entails increasing funding in the next budget period by 200%. The funding will be provided by senate and will mainly be used for marketing. The funding will also be used to
Organizational perspective indicates appropriate measures to be undertaken so as to ensure long term sustainability. Process perspective evaluates various loopholes which need to be eradicated to address customer needs. Customer perspective is all about image building in
11 pages (2750 words)Coursework
Hire a pro to write a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Apply my DISCOUNT
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you an essay for FREE
Contact us via Live Chat, call us at +16312120006or send an email to firstname.lastname@example.org