Implementing the Balanced Scorecard: a Supermarket Chains Experience (original) (raw)
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Balanced Scorecard: A Paradigm Measure Of Business Strategy And Firm Performance
2013
Due to intensity of characteristics comprised in today’s globalized markets whereby companies face fierce competition on a global scale which compel them to drive strategy to achieve firm performance objectives such as long-term profitability and customer loyalty. Balanced scorecard has become increasingly important strategic management tool that translates visions into profitable actions, particularly focusing on intangible assets such innovation, value chain, employee skills and knowledge levels, customer and supplier relationships, which are critical in providing the much-needed cutting-edge to an organizational setting. Therefore, this theoretical paper attempts to ascertain whether the implementation of a balanced scorecard as a paradigm measurement tool contributes to the improvement and synergy of business strategy and firm performance.
The Balanced Scorecard Model for Strategic Business Management
International Journal of Current Science Research and Review
The Balanced Scorecard is a work result measurement method that is used by companies to improve executive performance so that the companies knows more about the extent of movement and development that has been achieved. Balanced Scorecard provides companies with the elements they move from an “always about finance” paradigm to a new model in which the results become a starting point for reviewing, questioning, and learning about strategic management. The functions of the Balanced Scorecard include; as a tool to determine wheter the company’s vision and mission have been achieved; as a tool to measure the company’s competitive advantage; as a strategic guide to running a business; as a key performance indicator tool for the company; and as an analysis system enterprise learning. The Balanced Scorecard has four perspective, namely: 1) A financial perspective, the Balanced Scorecard can explain more about achieving the vision that plays a role in realizing the increase in company wealt...
The development of the Balanced Scorecard as a strategic management tool
Proceedings, Third International Conference on Performance Measurement and Management (PMA 2002)
The Balanced Scorecard is a widely adopted performance management framework first described in the early 1990s. More recently it has been proposed as the basis for a 'strategic management system'. This paper describes its evolution, recognising three distinct generations of Balanced Scorecard design. The paper relates the empirically driven developments in Balanced Scorecard thinking with literature concerning strategic management within organisations. It concludes that developments to date have been worthwhile, highlights potential areas for further refinement, and sets out some possible topics for future research into the field.
Designing a balanced scorecard using a scenario approach
Academia Revista Latinoamericana de Administración, 2019
Purpose The purpose of this paper is to design a method or process that relates dynamic environmental conditions with the strategic objectives present in a company’s strategy map, thereby allowing rapid analysis and the generation of new strategies that the company can adopt in a timely manner in order to maintain and/or improve its competitive position in the market. Design/methodology/approach One training session and three workshops were run involving the company staff. The intervention team reviewed and analyzed the results achieved and prepared the final presentation. Finally, they were asked to evaluate the intervention methodology with respect to usefulness and ease of use. Findings The developed methodology allows companies to obtain a broader vision of their future prospects. The executives’ participation in the process provided them a vision and understanding of the most relevant and sensitive variables of their environment. Research limitations/implications The proposed m...
2021
McDonald’s Corporation is one of the largest fast-food industries in the world. McDonald’s has always been successful through its franchising model and continuous innovation in its business strategies. This researched case study paper aims to highlight various strategies used by McDonald’s to drive success including the application of Michael Porters Dynamic Theory of Strategy and Five forces model and develop a sustainable balanced scorecard for McDonald’s Corporation. The methodology used is an archival analysis and use of published secondary resources. The findings indicate that if McDonald’s wants to continue through the path of success, they need to be changing their core values, strategies to keep up with the pace in changing global demands and complex business environments.<br>