Assignment: Developing a Balanced Scorecard
In this unit, you are exploring the need for organisations to measure and manage performance against objectives, as well as the potential effectiveness of tools such as Balanced Scorecards and Strategy Maps as aids in this cause.
You will now develop a BSC for Anthony's Orchard. The company has a number of strategic goals; measuring performance towards those goals will be critical to its sustained success.
To prepare for this Individual Assignment:
Visit the Anthony's Orchard case study in the unit resources. Review again the current and historical financials. Consider that one of the company's key goals in its strategic plan is to exceed revenue of $25 million dollars by the year 2015.
To complete this Individual Assignment:
Explain the potential value of a BSC to Anthony's Orchard. Describe specific ways that the introduction of a BSC can contribute to this organisation.
Develop a BSC that is aligned to the key goal in the strategic plan, i.e. exceeding revenue of $25 million dollars by 2015. Develop, quantify and justify suitable key performance measurement criteria for Anthony's Orchard in each of these four key areas:
Financial Customer
Internal Business Processes Learning and Growth
PERFORMANCE MEASUREMENT AND MANAGEMENT
Assumptions
1. Please fully state and justify any assumptions that you make in relation to the financial measurements you use.
Part 1: Explain the Potential Value of a BSC to Anthony's Orchard
i. Fully explain the potential value of a BSC to Anthony's Orchard.
Part 2: Describe specific ways that the introduction of a BSC can contribute to this organisation.
ii. Fully describe the specific ways that the introduction of a BSC can contribute to this organisation. What benefits will the adoption and implementation of the BSC bring to Anthony's Orchard?
Part 3: The BSC
- Key strategic Plan: exceeding revenue of $25 million dollars by 2015.
- Other objectives: read the following sections: About Anthony's Orchard; Mission Statement; Vision Statement and Strategic Plan & Growth Initiatives
- Develop, quantify and justify suitable key performance measurement criteria for Anthony's Orchard in each of these four key areas:
o Financial
o Customer
o Internal Business Processes
o Learning and Growth
- Include: objectives, measures, targets and initiatives.