The First Step in Developing a Balanced Scorecard Is to Clarify

question 119

Essay

The first step in developing a balanced scorecard is to clarify the strategic focus.As part of the process,many organizations develop a strategy map.You have been assigned to a team that has the responsibility to develop a strategy for your organization.Your team members have determined that the company has established several strategic focuses.One team member has started a strategy map,but has not filled in the strategies.
$\bullet$ Achieve operational excellence
$\bullet$ Develop trained workforce
$\bullet$ Infuse corporate culture of quality throughout workforce
$\bullet$ Develop reputation for quick turnaround
$\bullet$ Retain and grow customer base
$\bullet$ Manage customer relationships
$\bullet$ Increase profit

Required:

Complete the strategy map using the four balanced scorecard perspectives.

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Definitions:

Mental Exhaustion

A state of extreme fatigue or depletion of mental resources, leading to reduced cognitive performance.

Constructive Stress

A form of stress that is perceived as beneficial, motivating individuals to perform better and achieve their goals.

Stimulate Creativity

The process of encouraging innovative or creative thinking and problem-solving.

Set Up To Fail

A situation in which conditions are deliberately made so challenging or expectations are set so high that failure is almost guaranteed.