The Balanced Scorecard
Magic Technology was a leading manufacturer of electronic interference components and wire-wound inductors. The balanced scorecard four components are Financial, Customer, Future and Internal Perspectives. First, I’m going to assign the issues to their corresponding component.
My overall strategy is to turn-around Magic Technology. I would be doing this in a series of smaller strategies that would take place in the areas of the organization.
Based on the SWOT-scoreboard, the Magic project team formed and summarized specific product strategies. During this process, they also prioritized each strategy. First, the factories were operating at an insufficient level. In order to start the process of creating value for the …show more content…
With hopes that this will refresh his skills and with his experience, he will slowly become a better communicator of the business strategies to all level of the organizations through a series of meetings. Mr. Alan Lo would be up-front with the new strategies and goals and what we are trying to accomplish as a company. Second, I would hire new factories operational managers with more skills and experiences with hopes to turn around the operational execution of the factories. Eventually, improving our product time to market. Next, I will finish the implementation of the management systems and start the data systematized process. After the management system is fully implemented, I would thoroughly inspected and analysis the system and make any improvements or changes that would lead to stronger managements systems. At the same time, I will finish the performance checking mechanism. Resolving this two challenges are key from the successful implementation of the business strategies. Lastly, I would set up teams to fully and thoroughly analyze the products by performing a research of market prices and develop data to support their price suggestion for our products.
After 6 months of all the changes and improvements being finalized, we would evaluate the entire company on all the previous issues/challenges Magic faced. I would take corrective actions and make the changes needed. I would continue this process till the company is operating and performing above the expected levels. On the last note, after Magic Technology implements all the strategies listed above the company will be able to improve overall performance, grow the company with new product and expand market share, and at new level to be able to compete with
Magic Technology was a leading manufacturer of electronic interference components and wire-wound inductors. The balanced scorecard four components are Financial, Customer, Future and Internal Perspectives. First, I’m going to assign the issues to their corresponding component.
My overall strategy is to turn-around Magic Technology. I would be doing this in a series of smaller strategies that would take place in the areas of the organization.
Based on the SWOT-scoreboard, the Magic project team formed and summarized specific product strategies. During this process, they also prioritized each strategy. First, the factories were operating at an insufficient level. In order to start the process of creating value for the …show more content…
With hopes that this will refresh his skills and with his experience, he will slowly become a better communicator of the business strategies to all level of the organizations through a series of meetings. Mr. Alan Lo would be up-front with the new strategies and goals and what we are trying to accomplish as a company. Second, I would hire new factories operational managers with more skills and experiences with hopes to turn around the operational execution of the factories. Eventually, improving our product time to market. Next, I will finish the implementation of the management systems and start the data systematized process. After the management system is fully implemented, I would thoroughly inspected and analysis the system and make any improvements or changes that would lead to stronger managements systems. At the same time, I will finish the performance checking mechanism. Resolving this two challenges are key from the successful implementation of the business strategies. Lastly, I would set up teams to fully and thoroughly analyze the products by performing a research of market prices and develop data to support their price suggestion for our products.
After 6 months of all the changes and improvements being finalized, we would evaluate the entire company on all the previous issues/challenges Magic faced. I would take corrective actions and make the changes needed. I would continue this process till the company is operating and performing above the expected levels. On the last note, after Magic Technology implements all the strategies listed above the company will be able to improve overall performance, grow the company with new product and expand market share, and at new level to be able to compete with