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In a 3 – 4 page word document, address the following
Create a balanced score-card for a fictitious company.
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 growth).
Be sure that the paper has no spelling or grammatical errors.
(Info about balanced scorecard)
Balanced 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.
Balanced scorecards begin with a strategy map. A strategy map illustrates the four aspects of a balanced scorecard (Financial, customer, internal processes, learning and growth)
Each aspect of the balanced scorecard can be divided in measurable objectives.
Measurable Objectives of a Balanced Scorecard
Financial Measures: Income, cash flows, revenue from sales, reduction in expenses.
Customer Measures: Customer service and satisfaction, improving customer base and attracting new customers.
Internal Processes: 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.
(please go by this grading rubric thank you )
Paper is 3-4 pages in length. 5
Creates a balanced-scorecard for a fictitious company. 20
Discusses the importance of a balanced scorecard as a measure for evaluating performance and strategizing for success. 25
Includes each of the four balanced scorecard elements (financial, customer, internal processes, learning and growth). 45
Paper has no spelling or grammatical errors. 5