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Balanced Scorecard- Business Management

The operations manager has asked you to assist in determining the company's operational effectiveness and efficiency. The organization has made a decision to use the balanced scorecard as the tool to measure key performance indicators.
Content should include the following:
Discuss how each section of the balanced scorecard could be used to measure the following key performance indicators:
Financial perspective
Customer perspective
Business process perspective
Learning and growth perspective
Explain how each section could help improve productivity in each area.

Solution Preview

According to the University of Virginia Library (UVL), "The Balanced Scorecard is a management tool designed to provide a view of an organization from four perspectives, and each contains two targets: (1) complete success in achieving the metric; and (2) partial success indication."

> http://www2.lib.virginia.edu/bsc/index.html

In terms of determining the company's operational effectiveness and efficiency, each section of the balanced scorecard could be used to measure key performance indicators as follows:

FINANCIAL perspective - this is a measure of how well an organization is managing it resources over periods of time (weekly, monthly, quarterly, annually); its cost controls; fiscal stewardship; operational viability; and overall effective use of resources.

- how it could help improve productivity : By knowing how much money is coming in and going out, productivity can be measured in a number of ways. For example, UVL ...

Solution Summary

Solution answers the operations manager query to assist in determining the company's operational effectiveness and efficiency. The organization has made a decision to use the balanced scorecard as the tool to measure key performance indicators, and each section of the balanced scorecard is discussed to measure the following key performance indicators:

Financial perspective
Customer perspective
Business process perspective
Learning and growth perspective

Plus, it is explained how sections could help improve productivity in each area.

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