Deborah enters your office ready to discuss the project. She discusses her feedback on the plan thus far. She states that your team is doing an excellent job researching and you’ve been keeping her up-to-date on your findings. She commends you for your focus on effective management strategies because your team has been looking at every aspect of the company and considering both internal and external pros and cons. She asks that your team now apply the findings to develop a strategic framework so that the company can begin its global expansion programs. You decide that Deborah has brought up another good point and decide that the balanced scorecard would make a good part of strategic framework.
A balanced scorecard suggests that we view the organization from four perspectives (the learning & growth perspective, the business process perspective, the customer perspective, and the financial perspective). Create a 4-6 page paper that discusses the following:
- What is a balanced scorecard?
- Briefly discuss the four perspectives of the balanced scorecard and analyze what each means to your organization.
- In addition to the balanced scorecard, provide an overview of ethics and one other strategy that would be part of your company’s strategic framework for global expansion.
- Why is it important to combine different strategies when pursuing global expansion?
In addition to your textbook material, here are a few resources that may help you learn more about the basics of the balanced scorecard: