Week 6 Balanced Scorecard Part IInstructionsRequired Reading:
http://www.netmba.com/accounting/mgmt/balanced-scorecard/http://www.quickmba.com/accounting/mgmt/balanced-scorecard/This Power Point presentation also explains the balanced scorecardRead the lecture material “Required Information on Metrics” posted in this week’s module. Assignment (6%): Part I. Create Balanced Scorecard 1. Build a Balanced Scorecard for the unit of the organization for which you work, or have worked, or one with which you are personally familiar. Unless you are in senior management, focus on the unit with which you are most familiar rather than the organization as a whole. Identify the strategic objectives of the entire organization and the secondary objectives for the unit. Develop three specific objectives within each of the four perspectives for the unit. Each objective should have at least one quantified target metric associated with it. It is essential to understand what metrics are. Be sure to study the lecture material on “More Information on metrics” In this assignment, the specific information needed to calculate each metric should be explained. For each of your recommended metrics, state the appropriate target value and the actions you believe needs to be taken to achieve the target. The paper should be no more than 15 pages, including the reference list, and should be formatted in accordance with the APA guidelines as modified for the MBA program (http://info.umuc.edu/mba/public/MBA-apa.html). Please format your paper in Microsoft Word as a XXX.doc or XXX.rtf file, and place the paper in your assignment folder. MetricsDevelop three specific objectives within each of the four perspectives for the unit. Each objective should have at least one quantified target metric associated with it. So your table should contain 4 perspectives, each with 3 specific objectives, and a target value of the metric for each objective. Although you will use information from the company to determine strategic objectives, you would not reveal any protected data for which you are bound by a nondisclosure agreement. The determination of targets and metrics to meet objectives should be your own work. If you would like to see a sample table of metrics, here is one example: Sample Table of Metrics for an Example Business Unit
PerspectiveObjectiveMetricTarget ValueFinancialRevenue Growth Operating Profit Growth Short-term Solvency Long-term SolvencyAnnual Rate of Growth % EBIT/Sales Current Ratio Long-term Debt/Equity> 6%> 7%> 2.0< 30%CustomerIncrease Number of Customers Maintaining Transaction Size Improve Customer SatisfactionAnnual rate of Customers Increase Average Transaction Size Median Score: Customer Survey> 5% > $600> 90%InternalProduct Improvement Ratio of New to Old Products Maintain Market Share% R&D Expense to Revenue Ratio of New to Old Products Market Share %> 4% > 8% > 24%LearningEmployee Training Employee Turnover Employee CompensationAnnual Hours of Employee Training Employee Turnover Average Compensation> 30,000 < 3%> $38,000
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http://www.youtube.com/watch?v=_A02vKgE4NQ&feature=related http://www.youtube.com/watch?v=p0SrIb5qcMU&feature=related http://www.youtube.com/watch?v=iI8ZmLwqElI
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