Purchase Solution

Balanced Scorecard: Pros Cons, CEO memo adopting scorecard

Not what you're looking for?

Ask Custom Question

1.
If you are currently with a company that uses some elements of a balanced scorecard, post this information to the forum for this assignment. Discuss the advantages and disadvantages of the presented information..

2.
Assume you are the CEO of an organization that has historically measured success purely from the financial perspective. Write a memo to your senior staff advising them of your desire to approach performance measurement from a balanced scorecard perspective. If you prefer, and it makes sense, you may write the memo as if you were the CEO of your current place of employment. If this is not possible, create the memo using a generic strategy. Include possible elements of what you would like to have included in the new measurement system, but also be sure to mention how you would like senior managers to have their input, since the balanced scorecard is certainly not a dictated measurement system. Your suggested scorecard, which will be open to feedback from your senior managers, should include certain objectives, key performance indicators, and specific goals as a starting point for conversation.Problem Posted:

1.
If you are currently with a company that uses some elements of a balanced scorecard, post this information to the forum for this assignment. Discuss the advantages and disadvantages of the presented information..

2.
Assume you are the CEO of an organization that has historically measured success purely from the financial perspective. Write a memo to your senior staff advising them of your desire to approach performance measurement from a balanced scorecard perspective. If you prefer, and it makes sense, you may write the memo as if you were the CEO of your current place of employment. If this is not possible, create the memo using a generic strategy. Include possible elements of what you would like to have included in the new measurement system, but also be sure to mention how you would like senior managers to have their input, since the balanced scorecard is certainly not a dictated measurement system. Your suggested scorecard, which will be open to feedback from your senior managers, should include certain objectives, key performance indicators, and specific goals as a starting point for conversation.

Purchase this Solution
Solution Summary

Your discussion is 952 words and includes comments about the current reports at National Linen and a memo to the CEO about the movement to a balanced scorecard. There are several parts: Financial Reports are Limited, The New Report: Strategy Starting Point, The New Report: Four Perspectives Linked, Feedback and Rewards and Selecting Measures.

Solution Preview

1.
If you are currently with a company that uses some elements of a balanced scorecard, post this information to the forum for this assignment. Discuss the advantages and disadvantages of the presented information..

National Linen Service where I worked a while ago, did not use a balanced scorecard. They had two main reports, a financial outcomes report that the c-level folks studied monthly and an "operations" reports that the plant managers used. The "operations" reports was very similar to what a scorecard might measures in the "Internal Business Process" perspective. So, they looked at two of the four perspectives that a scorecard would entail. This was better than a simple financial analysis because they viewed some of the leading indicators of quality and efficiency that lead to financial outcomes. However, since they were not on the same report, it was not likely that either group (managers or c-level) would see the connections easily because what happened on one report and what happened on the other. The linkages, if noticed, we up to the viewer to investigate by studying the reports at the same time.

There were no measures for learning and growth or customer measures. Individual managers were left to their own leadership talent on these items. The advantage is that each manager could decide how to emphasize each aspect. The disadvantage is that it was limited to the individual talent, time and ability of each manager to learn what the leading and lagging measures should be, how they interact, and how to consistently measure and monitor the learning and growth and customer aspects. The big disadvantage to this ad-hoc policy of collecting measures as desired by local managers is that the overall firm strategy was likely not prominent. A well-crafted ...

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
Recent Feedback
  • "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
  • "Thank, this is more clear to me now."
  • "Awesome job! "
  • "ty"
  • "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

Introduction to Finance

This quiz test introductory finance topics.

View More Free Quizzes
Related BrainMass Solutions

  • Balanced Scorecard

    266401 Define Balanced Scorecard and describe the pros and cons of this methodology. Define Balanced Scorecard and describe the pros and cons of this methodology.

  • memo implementing a balanced scorecard technique

    199375 Clarke Manufacturing: memo implementing a balanced scorecard technique Duncan Clarke is controller of Clarke Manufacturing Company, one of your clients.

  • Firms position on evaluation

    This solution of 155 words explains the importance of shareholder value, balanced scorecard and stakeholder scorecard.

  • Balance Scorecard

    Examining and quantifying the potential benefits for adopting the Balanced Scorecard process ?

  • 4 Criteria of a Balanced Scorecard for Unum

    In 1991, James Orr the CEO James Orr and his set out the agenda for building and implementing balanced scorecard in light of the new environment and incorporating the vision, values and environmental and internal changes facing the organization.

  • Balanced Scorecard and Employee Compensation

    These two strategies would be categorized for the balanced scorecard as internal.

  • Scanning the Environment and SWOT Analysis of Apple Inc.

    In the second part of the solution, there is a balanced scorecard approach which you can use, illustrations are provided below the format for balanced scorecard.

  • Ethics and Performance Measures for Compensation

    Unlike the formula-based program, the "balanced scorecard" used subjective weightings to aggregate the various scorecard measures when determining overall performance evaluations and bonus awards.

  • Balanced Scorecard: Short Discussion Question

    367286 Balanced Scorecard: Short Discussion Question What are the most difficult aspects of simultaneously balancing the four perspectives in the balanced scorecard?

View More Related Solutions