a 4 page word document, address the following
- Create a balanced score-card for a
- Discuss the importance of a
balanced scorecard as a measure for evaluating performance and
strategizing for success.
- Include each of the four balanced
score-card elements (financial, customer, internal processes, learning and
- APA format.
scorecards are used in an organization to measure both financial and
non-financial performance. A balanced scorecard illustrates performance
objectives that can be monitored over a period of time. Using a balanced
scorecard develops goals and transforms a company’s overall strategy and vision
through visual application.
scorecards begin with a strategy map. A strategy map illustrates the four
aspects of a balanced scorecard (Financial, customer, internal processes,
learning and growth)
aspect of the balanced scorecard can be divided in measurable objectives.
Objectives of a Balanced Scorecard
Income, cash flows, revenue from sales, reduction in expenses.
Customer service and satisfaction, improving customer base and attracting new
Maximizing time to fill orders, lead time, relationships with suppliers,
turnover of material amounts.
Learning and Growth:
Employee satisfaction and retention, employee training, research and
development for new products/ideas.