Question: 500 words. Balanced scorecard. Capsim.
Consider the four key perspectives of a balanced scorecard applied to your Capsim competition: (1) the learning and growth perspective, (2) the business process perspective, (3) the customer perspective, and (4) the financial perspective. Then respond to the following:
• Provide an overview of an organization you are familiar with or one that you researched. Include in your overview statistics that describe the organization, such as its product/service, size, and number of employees.
• Discuss whether the four key perspectives are relevant to that organization.
• How can you utilize the four key perspectives to analyze and improve your Capsim simulation rounds?
One popular management control system used by thousands of companies, government entities, and non-profits is the balanced scorecard. The balanced scorecard is a management system that enables companies to clarify their strategies, translate them into actions, and provide meaningful feedback on the effectiveness of the actions. The balanced scorecard is intended to transform strategic plans into measurable performance actions. It links the strategic plan to both the functional tactics and the measurements that the tactics produce.