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The First Step in Developing a Balanced Scorecard Is to Clarify

Question 155

Essay

The first step in developing a balanced scorecard is to clarify the strategic focus.As part of the process,many organizations develop a strategy map.Assume you are asked by your supervisor to develop a strategy for your organization.You have determined that the following strategies have been established by the company.
\bullet Achieve operational excellence
\bullet Develop trained workforce
\bullet Infuse corporate culture of quality throughout workforce
\bullet Develop reputation for quick turnaround
\bullet Retain and grow customer base
\bullet Manage customer relationships
\bullet Increase profit

Required:

Prepare a strategy map using the four balanced scorecard perspectives.

Correct Answer:

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