Assignment: Part I. Create Balanced Scorecard
1. Build a Balanced Scorecard for the unit of the organization for which you work, or have worked. Unless you are in senior management, focus on the unit with which you are most familiar rather than the organization as a whole. Identify the strategic objectives of the entire organization and the secondary objectives for the unit. Develop three specific objectives within each of the four perspectives for the unit. Each objective should have at least one quantified target metric associated with it.
It is essential to understand what metrics are. Be sure to study the lecture material on "More Information on metrics" In this assignment, the specific information needed to calculate each metric should be explained. For each metric state the appropriate target value and the actions that need to be taken to achieve the target. The paper should be no more than 15 pages, including the reference list, and be formatted in accordance with the APA guidelines as modified for the MBA program (http://info.umuc.edu/mba/public/MBA-apa.html). Please format your paper in Microsoft Word as a XXX.doc or XXX.rtf file, and place the paper in your assignment folder.
Metrics
Develop three specific objectives within each of the four perspectives for the unit. Each objective should have at least one quantified target metric associated with it. So your table should contain 4 perspectives, each with 3 specific objectives, and a target value of the metric for each objective.
If you would like to see a sample table of metrics, here is one example:
Sample Table of Metrics for an Example Business Unit
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Perspective
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Objective
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Metric
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Target Value
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Financial
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Revenue Growth
Operating Profit Growth
Short-term Solvency
Long-term Solvency
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Annual Rate of Growth
% EBIT/Sales
Current Ratio
Long-term Debt/Equity
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> 6%
> 7%
> 2.0
< 30%
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Customer
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Increase Number of Customers
Maintaining Transaction Size
Improve Customer Satisfaction
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Annual rate of Customers Increase
Average Transaction Size
Median Score: Customer Survey
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> 5%
> $600
> 90%
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Internal
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Product Improvement
Ratio of New to Old Products
Maintain Market Share
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% R&D Expense to Revenue
Ratio of New to Old Products
Market Share %
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> 4%
> 8%
> 24%
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Learning
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Employee Training
Employee Turnover
Employee Compensation
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Annual Hours of Employee Training
Employee Turnover
Average Compensation
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> 30,000
< 3%
> $38,000
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Assignment: Part II. Post Executive Summary in Discussion area
2. By Friday night, create a separate main topic in the Week 6 Discussion, Balanced Scorecard, using your name in the title and post an Executive Summary in the discussion text. Do not include any confidential information in your Executive Summary because your Executive Summary is not private. But you can include confidential information in your paper because your assignment folder is private. Comment on your classmates' Executive Summaries in the Week 6 Balanced Scorecard Discussion.
I work in the accounting department for an asset management company. The metrics needed are objectives, measures, actual, target, and methodology.
The figures used as actual and target do not have to be those of my actual firm. My professor is focused primarily on measures and methodology. Can you help?
I need an executive summary (120 words) by tomorrow and the rest of the assignment by 12pm on Sunday, July 26th.
Required Reading:
http://www.netmba.com/accounting/mgmt/balanced-scorecard/
http://www.quickmba.com/accounting/mgmt/balanced-scorecard/