Balanced scorecard is a framework for setting objectives for the business. Ideally, when the company meets these objectives, the company will be successful. To make this happen, the different objectives that the company sets within the balanced scorecard framework should be congruent. That is to say, the different objectives should make sense together (BSI, 2012). There are four elements to the scorecard -- the shareholder value perspective, the customer value perspective, the process perspective, and the learning & growth perspective. For Berry's Bug Blasters, the shareholder value perspective is represented by financial objectives relating to profit and growth. To this end, Berry's Bug Blasters has developed a set of financial objectives. The company wants to achieve a revenue growth rate of 50% per year for the first ten years. With franchising and international expansion as part of the company's plans, this objective is reasonable. Profits should also grow at this rate, something that is reflected in the plan as well. In addition to financial measures that relate to shareholder wealth, the balanced scorecard demands that the path to this shareholder wealth increase are laid out. So for example, BBB has plans to add 10 new franchises per year, and will set revenue growth targets for all franchises so that the growth comes from a combination of opening new territories and maximizing...
Likewise, there are going to be targets for cost of goods sold (COGS) and the different expense categories, and these targets will help BBB achieve it profit targets. In addition, the number of people served is important, so that the company does not open new territories in underpopulated areas -- better to launch in Chicago than in Tumbleweed, South Dakota.
Balanced Scorecard Control and Adjustment of Environmental Factors for a New Bookstore: The Balanced Scorecard Perspective All businesses, whether they are brand new and still in the planning stages or have been around for generations, must continually reappraise their position in their given market and industry in order to ensure that they are providing their shareholders and all stakeholders with the maximum possible benefit for their involvement with the business. Simply put,
Balance Scorecard Applications in Healthcare Organizations Balanced Scorecard The Learning & Growth Perspective The Business Process Perspective The Financial Perspective Strategy Mapping General Perspective of Performance Management Performance Planning Ongoing Performance Feedback Employee Input Performance Evaluation & Review Performance Management in Healthcare Organizations Healthcare Organization as Learning Organization Principles of Performance Management in Healthcare Organizations Performance Measurement & Evaluation Methods Used In Healthcare Organizations Setting Up Performance Management Systems Dimensions and Approaches to Performance Management in Health Care Taken From the British National Health Service Induction Programs Performance Monitoring Personal
Balanced Scorecards: The Customer Service Perspective Balanced Scorecards The Customer Service Perspective Hyde Park Electronics, Futura Industries and Southern Gardens Citrus (SGC) all were able to transform their businesses using Balanced Scorecard (BSC) methodologies that aligned each of their respective businesses to customers so that value was consistently created and delivered, growing each business in the process. Each was able to quickly progress beyond using BSC frameworks as a means to track financial
Balanced Scorecard Saatchi & Saatchi: Balanced Scorecard Case Study Saatchi & Saatchi was once one of the world's most respected advertising agencies, but its fortunes were floundering in the mid-1990s. It had crafted a quirky brand image for itself that had been diluted due to its over-expansion and a lack of a coherent vision for its various component agencies. "Throughout the 1970s and 80s we experienced rapid growth through acquisitions. We were
Balanced Scorecards (BSC) are designed to provide insights into which customer-centric strategies are the most profitable and scalable over the long-term (Glykas, Valiris, 2011). Often customer-centric measures of satisfaction, sales and repurchase rates hide the real issues of customer profitability, lifetime customer value and cost to serve the most loyal customers (Kaplan, 2005). A balanced scorecard must take into account the entire value chain of a business if it is
Balanced Scorecard: Customer Perspective The balanced scorecard (BSC) developed by Robert Kaplan and David Norton is "one of the most highly touted management tools today" (Gumbus, A. & Lussier, R. 2006), and is used extensively by Fortune 1000 companies to "set strategy and align operations to achieve breakthrough results" (Gumbus, A. & Lussier, R. 2006). Is the balanced scorecard a tool only for the multinational or conglomerate firm? Increasingly no, as
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