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Developing a Balanced Scorecard

A balanced scorecard is used by managers to help them identify and translate the company’s strategic goals into tangible performance objectives. The data in the tool are used to allow managers to monitor and measure the status of the objectives and alert them if changes are needed to improve their ability to meet their strategic goals.

Watch this video on the steps to using a balanced scorecard: Balanced Scorecard: A Step-by-Step Example.

Read this article: Uber Case Study.

Read this article for balanced scorecard examples: Seven Balanced Scorecard Examples.

For this assignment, select a company to analyze.

You may choose a company of your choice, or choose from the following list:

• Citibank
• Ford Motor Company
• Mobil
• Verizon
• UPS

Based on your analysis, address the following:

• Develop a balanced scorecard for the company that you selected. It should include at least 2 clear objectives and associated metrics under each of the four perspectives (learning and growth, customer, internal processes, and financial) of the scorecard.
• List at least 1 advantage and disadvantage associated with using a balanced scorecard.
• What ethical considerations arise when utilizing the balanced scorecard to help a company compete?

3-5gs

Struggling with where to start this assignment? Follow this guide to tackle your assignment easily!

Step-by-Step Guide for Developing a Balanced Scorecard Paper:

Step 1: Select Your Company

• Pick a company from the list (e.g., UPS) or one you are interested in.

• Briefly describe the company, including industry, size, and strategic goals.

Step 2: Understand the Four Perspectives of the Balanced Scorecard

1. Learning & Growth: Focuses on employee development, skills, and innovation.

2. Customer: Measures customer satisfaction, loyalty, and engagement.

3. Internal Processes: Examines efficiency, quality, and operational performance.

4. Financial: Tracks revenue, profitability, cost management, and market share.

Step 3: Identify Objectives for Each Perspective

• Choose at least 2 clear objectives for each perspective.

• Examples for UPS:

  • Learning & Growth:

    • Objective: Improve employee training programs

      • Metric: % of employees completing annual training

    • Objective: Enhance innovation in logistics solutions

      • Metric: Number of new process improvements implemented

  • Customer:

    • Objective: Increase customer satisfaction

      • Metric: Customer satisfaction score (CSAT)

    • Objective: Improve delivery speed

      • Metric: On-time delivery rate (%)

  • Internal Processes:

    • Objective: Reduce package handling errors

      • Metric: Number of errors per 10,000 packages

    • Objective: Improve supply chain efficiency

      • Metric: Average delivery cycle time

  • Financial:

    • Objective: Increase revenue growth

      • Metric: Annual revenue growth (%)

    • Objective: Optimize operating costs

      • Metric: Operating margin (%)

Step 4: Describe Advantages and Disadvantages of the Balanced Scorecard

• Advantage: Provides a clear, holistic view of organizational performance across multiple areas.

• Disadvantage: Can be complex and time-consuming to collect and track all metrics.

Step 5: Discuss Ethical Considerations

• Ensure accuracy and transparency in data reporting.

• Avoid manipulating metrics to make performance appear better than reality.

• Protect employee and customer data when tracking performance.

Step 6: Organize Your Paper

• Use a clear structure:

  1. Introduction: Introduce the company and purpose of the balanced scorecard.

  2. Balanced Scorecard Table: Include perspectives, objectives, and metrics.

  3. Advantages and Disadvantages: Explain benefits and limitations.

  4. Ethical Considerations: Discuss potential ethical issues.

  5. Conclusion: Summarize how the balanced scorecard can support strategic goals.

Step 7: Cite Sources in APA Format

• Include references for all articles, videos, and examples used.

Step 8: Review and Submit

• Proofread for clarity, grammar, and proper formatting.

• Ensure all perspectives and requirements are addressed.

• Submit in Word format with 12-point Times New Roman font, double spacing, and one-inch margins.

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Suggested Resources for Your Paper:

1. Balanced Scorecard Institute: Balanced Scorecard Basics

2. Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard: Translating Strategy into Action. Harvard Business School Press.

3. Uber Case Study: Uber Balanced Scorecard Example

4. Seven Balanced Scorecard Examples: Example Balanced Scorecards

 

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