04 Dec Unit 10_MT497_Assignment Part 1
13847Applying the Balanced Scorecard
Evaluate the role of accounting, finance, and marketing within the larger organizational structure.
Recommend a scorecard for an e-commerce business to address the following business problem:
Product sales have been flat for the last two quarters, but costs continue to rise. Customers complain about the lack of selection of products and are choosing to go to competitors instead. The CEO hired a director of product innovation one year ago, but her team has been slow to develop new products. The innovation department has been well-funded, but its output has lagged the industry standard.
Create a balanced scorecard (BSC) addressing these four areas:
Financial
Customer-centric/market orientation
Internal process perspective
Learning and growth perspective
BSC Instructions
For each of the areas of the scorecard, provide one goal statement and one way to measure it, filling in the BSC excel template(attached) based on the scenario provided.
Financial Outlook: To succeed financially, how should shareholders view us?
An example answer could be: Increase revenue and increase profitability.
How to measure it? Through the financial statements.
Customer Perspective: To achieve our vision, how should our customers/the market see us?
Sample answer: We need to show the market that our products have superior quality compared to the competition.
How to measure it? Through customer satisfaction surveys.
Internal Process Perspective: To satisfy our customers, in what business processes do we need to achieve excellence?
Sample answer: We must achieve excellence in quality control and innovation.
How to measure it? By the statistical analysis of consumer care service reports, social networks, and review sites like Yelp.
Learning and Growth perspective: To achieve our vision, how will we sustain our ability to innovate, change and improve?
Sample answer: We must sustain our ability to change and improve by intensifying training and hiring the right qualification of employees.
How to measure it? By verifying the number of hours spent in training and the number of certificates achieved by employees in outsourced courses.
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