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?