Balanced Scorecard Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Balanced Scorecard Case Solution

Introduction:

The Balanced Scorecard is a PM tool, which is is a planning system that organizations use to keep track of their activities and to align the daily activities. It is used by the managers to arrange the tasks according to their importance level. This strategy helps the managers in screening the progress of the project and the individuals associated with it. Big and leading companies use a balanced scorecard without questioning the results of the model. As companies are aware of the fact that the balanced scorecard is an effective element to manage and improve the performance and to achieve the strategic goals. The previous literature has also stated the pros of using a balanced scorecard for the organization.

The main purpose of the Balance scorecard is to communicate the strategic goals of the organization, to align the day-to-day activities of the project, prioritize projects, products, and services and to measure the progress of the goals. Initially,basic indicators are selected according to the set goals of the organization, which helps the managers in measuring the performance and status of the goals. It helps them in implementing the strategies accordingly. (Kaplan & Norton, 2000).The use and objects of the balanced scorecard are same for the companies,but researchers have stated that the use of a balanced scorecard is not generalized in the other firms, because the hindrances of companies vary from one another.

Balance scorecard has been used widely in the management area.Despite the fact that it is not limited to SCM; many frameworks have been issued by the scholars (Bhagwat & Sharma, 2007; Reefke & Trocchi, 2013). These researches have made enough impacton the SCM field. The SCOR model and Balance scorecard are the most used models for performance management in the supply chain management (Reddy et al, 2019). Another study argued that it is difficult for the managers in the supply chain to use PMSs, aligning them with the requirements of stakeholders.(Mishra et al., 2018) whereas, the managers should consider the context in which they are operating.(Culbertson & Phototropic, 2011)

The concept of 4.0 is currently very in.These industries prefer to use a balanced scorecard for performance and project management. A study stated that balanced scorecards are used by many renowned companies in the industry, and it is considered to be the highly used PMSs model (Voelpel et al., 2006)The usage of a balanced scorecard help the companies in having a plans and strategies, as a balanced scorecard provides a strategic map that helps the managers in analyzing the whole scenario and to check the effects of one activity over the strategic goals and to know that which goals overlap each other. Through this, the key indicators are found and kept in mind.(Kaplan & Norton, 1996)proposed a model which consisted of four perspectives, including: financial perspective, customer perspective, business perspective and learning and growth perspective.

A balanced scorecard also helps in implementing the strategies effectively, as it allows the managers to communicate easily within the company as well as outside it. A balanced scorecard also helps in aligning the project and heading to initiatives. Additionally, it also help in managing the information, improving the reporting, organizational alignment and process alignment. As (Kaplan and Norton, 1996) stated that balanced scorecard is a balanced model which improves the project’s process and its performance.........................

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