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Submit a balanced scorecard for our business and a summary (300-700 words) of the balanced scorecard. on the fast food chain!

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The response address the queries posted in 1675 words with references.
//Before writing about the 'Balanced Scorecard' for the fast food chain, we will write about the concept of the balanced scorecard. It will assist in understanding the rationale and importance of balanced scorecard in assessing the performance of a business organization. So, firstly, we will write about the balanced scorecard under the heading introduction. For example://

Introduction

Balanced scorecard is an effective tool for the managers, in order to align and establish the strategies for accomplishing the business goals and objectives effectively and efficiently. It is widely used by the business organizations, so as to make effective strategic planning and enhancing the performance of the management system. With the assistance of the balanced scorecard, the communication network within and external to the business organization can be improved. The Managers implement this strategic tool for evaluating and controlling the business performance with respect to the strategic goals and objectives (Kaplan & Norton, 1996).

The main objective of the fats food chain is to provide quality products and customer services, so as to enhance the productivity and profitability. The paper will provide the balanced scorecard for the fast food chain by considering the four basic elements, which are financial, learning & growth, customer and internal business process (Niven, 2005).

//As per the directions, we will write about the balanced scorecard for the fast food chain business. The balanced scorecard of the fast food business will assist in understanding the performance of the different activities in accordance with the vision and long term goals of the Business Organization.//

Balanced Scorecard Category
Main Objective(s)
Key Measure(s)
Target(s)
Overall

Initiative(s)

Financial Perspective

Market share

Competitive position

Revenue & Costs

To attain substantial market share

To focus on attaining competitive position by implementing its strategic plan and accomplishing substantial market share.

To attain spectacular growth by supplying quality products and services, as well as, optimizing the financial budget (Kaplan & Norton, 1996).

It will be measured in terms of the increase in profits and revenues.

It will be measured in terms of the increase in market share and profitability (Niven, 2005).

It will be measured in terms of the increase in revenue and operating cost.

To attain around 5-10% of market share in the coming two years.

To attain substantial market share and become competitive.

To reduce the overhead costs and attain profits in accordance with the captured market share.

Supply innovative quality products and services at competitive prices.

Supply innovative quality products and services at competitive prices.

Will reduce the overhead costs and increase the profits.

Customer Value ...

Solution Summary

The response address the queries posted in 1675 words with references.

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