Essay on Balanced Score Card in Strategic Management

3353 Words May 26th, 2012 14 Pages
) “A Balanced Scorecard system provides a basis for executing a good strategy well and managing change successfully.” Demonstrate the validity of this statement by selecting an organization of your own choice and showing how strategies can be transformed into objectives, measures, targets and initiatives. You should cover all four aspects of the balanced scorecard. [20 marks] (b) Describe how one can use Lewin’s three step process to manage change [5marks]

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
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iii) Customer :- Here the organization would question itself how it should appear in order to please the customer while at the same time achieving the organisation’s vision. iv) Learning and growth :- To achieve our vision, how will we sustain our ability to change and improve.

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.’
Customer Perspective
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

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