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The First Step in Developing a Balanced Scorecard Is to Clarify

Question 157

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.You have been assigned to a team that has the responsibility to develop a strategy for your organization.Your team members have determined that the company has established several strategic focuses.One team member has started a strategy map,but has not filled in the strategies.
\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:

Complete the strategy map using the four balanced scorecard perspectives.
 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.You have been assigned to a team that has the responsibility to develop a strategy for your organization.Your team members have determined that the company has established several strategic focuses.One team member has started a strategy map,but has not filled in the strategies.  \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:   Complete the strategy map using the four balanced scorecard perspectives.

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