“Dashboard” is a business term widely used to describe an area allowing a manager to see company information in one view or place. Think of a dashboard in a car. You can control the car with all the buttons and dials in one place.
The Balanced Scorecard provides control information on a dashboard. This very short video on the Balanced Scorecard (Links to an external site.) gives a good definition and walks you through the four views or indicators. Be sure you watch this short video before you begin this last part of the project.
The Balanced Scorecard can be expanded into a Strategy Map, a graphic that shows the relationship between goals and actual performance. For this project, we will work only with the Balanced Scorecard.
As the Figure 16.4 shows on page 558 of your book and as presented in the video, there are four areas in the Balanced Scorecard:
1. Financial Perspective
2. Customer Perspective
3. Internal Business Perspective
4. Innovation and Learning Perspective
Instructions
Using the same company from the other project components, prepare a report using APA style, approximately 1-2 pages long. These 1-2 pages include the SmartArt scorecard you will insert. These 1-2 pages do not include the cover page and the references page. You should use two resources, one of which can be your textbook. Your report should contain the following:
· Introduction (Remember: Introduction is not a heading; the Running head serves this purpose.)
· Define the term Balanced Scorecard. Explain how the Balanced Scorecard is important to the Control function.
· The Balanced Scorecard
· Using SmartArt in MS Word (Insert >SmartArt), select a diagram that best represents the Balanced Scorecard. (The Cycle might work for you.)
· Insert the four Balanced Scorecard perspectives.
· Select one perspective.
· Insert two company goals for this perspective.
· Insert two measures or matrices for these two goals.
· EXTRA CREDIT NOTE: You will receive 20 extra credit points if you provide two goals and two measures for the other three perspectives. It is possible for you to make as high as 120 on this assignment.
· Conclusion
· Explain the importance of the perspective you selected.
· Discuss how your two goals will support continuous improvement.
Kinicki, A. & Williams, B XXXXXXXXXXManagement, a practical introduction (8 ed.) New York, NY: Media Li
ary, McGraw-Hill Education