Essay on Balanced Score Card in Strategic Management
The ‘Balanced Score Card’ is a strategic performance management system that allows an organization to translate its Vision, Mission, Values and Strategies by providing a new framework, one that tells the story of the organisation’s strategy through the …show more content…
For all the four perspectives objectives will be set, measures agreed, targets to be satisfied set and the initiatives to be undertaken prescribed.
Diagram of the balanced score card
To demonstrate that the balanced scorecard system provides a basis for executing a good strategy well and managing change successfully I will use Shearwater Adventures, an adventure tourism activity operating business in Victoria Falls. The company’s Vision is ‘ to give clients experiences that exceed their expectations and lots to rave about through different activities delivered by motivated staff willing to go beyond the expected to delight customers at a fair return to its shareholders.’
In the customer perspective Shearwater Adventures when choosing measures for this perspective must answer two critical questions: who the company’s target customers are and decide what value proposition the company will serve them with. Shearwater’s target customers are all potential and actual travelers in their product portfolio and those