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The balanced scorecard is management tool

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Reference no: EM132592036

The Balanced Scorecard (BSC) is a management tool used as a control mechanism to monitor and measure performance throughout the implementation of a strategic plan. The BSC method is used extensively throughout business and industry, by government agencies, and even not-for-profit organizations throughout the world. They use the BSC method to ensure alignment between functional business activities and the strategic goals and objectives of the organization. Businesses use the BSC method as a strategic management tool that takes four different business perspectives into account in order to understand and achieve the organizational goals and objectives (Financial, Customer, Business Processes, Learning and Growth). In this Discussion, visit the Baldrige Performance Excellence Program website and choose any "Award Application Summary" (business case) from the list. Analyze the "Award Application Summary" based on the BSC methodology. Use the following criteria to develop your Discussion answer and to correspond with a minimum of two of your fellow learners:

Explain how the "Award Winning" company can benefit from using the BSC method as a strategic control system based on the information in the business case.

Explain why the "Award Winning" company was successful from the financial perspective of the BSC method.

Explain why the "Award Winning" company was successful from the customer perspective of the BSC method.

Explain why the "Award Winning" company was successful from the business process perspective of the BSC method.

Explain why the "Award Winning" company was successful from the learning and growth perspective of the BSC method.

Conduct a SWOT analysis of the business case and identify any potential weaknesses, challenges, or risks the "Award Winning" company may face in the future. Explain how the BSC method can be used to help mitigate the weaknesses, challenges, or risks.

 

Reference no: EM132592036

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