Critically discuss and evaluate, with reference to your particular case, the use of Balanced Scorecards for performance management and monitoring.
Individual End-of-module Report
In the role of a management consultant, prepare a succinct and detailed business report for the Board of Directors of your chosen company report aimed at the Board of Directors. Extend your research from coursework 1 on financial analysis of the performance of your company to include financial and non-financial performance indicators; design a balanced scorecard and linked strategy map and evaluate the techniques used.
You are required to use the same company as in coursework 1 but permitted to choose a different company only in exceptional circumstances (for example if the company is no longer trading). Please consult the latest List of Organisations that can be used. This is contained in CW1 instructions document. Your seminar tutor will approve your choice of organisation sub-unit for CW2.
The vision, strategy or goal that you identify can be published by the organisation (e.g. in their Annual Report) or identified by yourself as appropriate for the organisation.
1. Identify the vision and strategy of either
§ the entire organisation or
§ one unit of the organisation, or
§ one major long-term financial and strategic investment that the company is involved with.
2. Using published information and material from Coursework 1, prepare a Balanced Scorecard suitable for use by the directors and managers of your organisation to align business activities to the identified vision and strategy, and to monitor performance against strategic goals.
3. Build a strategy map to describe and explain how each aspect of the scorecard can assist your company in achieving its goals and targets.
4. Summarise your recommendations to the Board.
5. Critically discuss and evaluate, with reference to your particular case, the use of Balanced Scorecards for performance management and monitoring.
6. Provide a meaningful Executive Summary of approximately 200 words at the beginning of your report.
7. Format your report professionally and acknowledge all sources according to CULC Harvard standard.