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For this discussion use the questions below to guide you. Your posts should be well-researched, illustrated with specific examples, and properly cited.Guiding Questions: Share your personal...

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For this discussion use the questions below to guide you. Your posts should be well-researched, illustrated with specific examples, and properly cited.Guiding Questions:
  • Share your personal experience, if any, with the use of a BSC. Also share thoughts about how a BSC might be used in your current or former employment situation. If you prefer, you can research an organization to answer this question rather than using your own employment experience.
  • How can a BSC be used effectively to make organizations more competitive?
  • What are the advantages and disadvantages in applying the BSC framework to the final project case study Value-Driven Project and Portfolio Management in the Pharmaceutical Industry?
Finally create a balanced score card for the case study attached (alue-Driven Project and Portfolio Management in the Pharmaceutical Industry)
Answered Same DayMar 06, 2020Swinburne University of Technology

Solution

Aarti J answered on Mar 07 2020
62 Votes
Balanced Score card
Course Name
Course Date
Student’s Name
RUNNING HEAD: BALANCED SCORE CARD    1
Balanced Score card
Introduction
Balanced score card helps in improving the performance of the organization by linking the sub-units of the concerned effort so as to increase and achieve the organization’s goals. Initially the organization performance was just measured by the financial metrics whereas the balanced score card takes into consideration four different perspectives which included financial perspective, customer perspective, internal business processes and learning and growth perspectives. (Robert S. Kalpan and David P. Norton, 1991)
Use of balanced score card
The balanced score card is used as an adequate tool which helps in selecting the indicators and objectives that reflects the strategic vision of the company which can help the organization so as to meet the stakeholder’s expectation to communicate and articulate the strategic objectives into the actions. With this there is a balance between the services that were provided by the company and the continuous feedback and learning of the company. So, the balanced score card helps in balancing between the external measures related to the shareholders, customers and internal measures which relates to the internal processes of the company such as innovation, growth and learning. (Zizlavsky, O. 2014)
Different companies like Dell and ITC uses balanced score card which can help the company to know different perspectives and can help the company to achieve its strategic goals and mission. Example: Dell emphasize on customer satisfaction through customers feedback, servicing and innovative products, it focuses on internal process by emphasizing on innovation, it emphasizes on training and development to initiate learning and growth. Apart from this the financial metrics states that the company is profitable and gives high returns to its shareholders.
Competitive
The use of balanced score card helps in generating strategic learning along with a global vision of the company’s performance. It favours the organizational objectives and minimises the overload of the information, as the performance of the...
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