Topics: Balanced scorecard, Strategic management, Management Pages: 3 (832 words) Published: April 25, 2013
Apply the balanced scorecard to small companies
1. Did these four firms adopt the balanced scorecard? Why or why not? In the past, these four firms only one company totally implemented such balanced scorecard system. However, other companies implemented 30%-70%. I think that these four firms adopted the balanced scorecard after the dialogue. The reasons are that the balanced scorecard is an integrated evaluation system. It can not only evaluate past performance of the company, but also to spur company reach future goal. 2. For each of the firms, examine the scorecard presented in the article and use it to determine what you think is likely to be or should be competitive strategy of the firm. Does it seem that the balanced scorecard is consistent with nature of the firm’s business and strategy? From the electronics firm’s scorecard, I think that it is a customer-oriented company. It makes customer perspective at first, emphasizing the goals of quality, price, delivery, and development of new products as of primary important. In addition, the company indicates, but little discussion, that there is a need to provide shareholders some relatively short-run traditional financial result. So, it makes financial perspective at fourth. From the food ingredients’ scorecard, we can see that the company is more emphasis on profit now. It makes financial perspective at first on balanced scorecard, and then proceeds to identify many goals and measures in the other perspectives that will enhance the financial goals along with the goals perspective. From the commercial bank’s scorecard, we can observe some different, because it is a serve company. We can see that its scorecard list shareholders perspective, customers perspective, employee perspective, community perspective. By meeting the requirements of all levels to performance its competitive strategy. Finally, a biotechnology firm in its balanced scorecard selected the customer perspective as of primary importance....
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