Strategic Management Case Study

a. Implementing the balanced scorecard helps companies establish clear strategies that, when used effectively serve as a foundation for an effective strategy management process. It is important to establish a clear, repeated, and ongoing strategy management process to increase the chances of a successful business. Strategy management can be the biggest challenger for a corporation of all types. It is important to develop a management strategy but also a change in mindset once the strategies are in place. After having this implemented for a year, management should reevaluate to determine which strategies are working and which are not. They should keep the ones that are working and improve them if necessary but don’t discard them by any means. The strategies that are not working should be evaluated to determine if the need is still there first. If not, the strategy should be discarded all together. If so, they should determine another course of action to improve the results. If the strategy is no longer there, they should determine what the improved results need to be. A root cause analysis of sorts to determine what the need is. Strategies, similar to goals, need to measurable. They can be measured using performance objectives or key performance indicators. That way, after the year of the strategy being implemented, it can be measured to determine effectiveness.
3. a. Suppose that customers express greater satisfaction with the accuracy of their charge account bills but the performance measures for the average age of accounts receivable and for bad debts do not improve. Explain why this might happen.
a. Two possibilities are that the company’s collection effort is ineffective and that the company’s credit reviews are not working properly. This is saying that the problem may not be incorrect charge bills at all. The problem may be that the internal procedures for collecting overdue accounts are not working properly. Or, it could be that the problem is the