Assessment and Analysis of Balanced Scorecards

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Assessment and Analysis of Balanced Scorecards Introduction The greater the competitive intensity of a given industry the more essential the four foundational elements of balanced scorecards become in translating expertise and knowledge into profitable performance. The BSC framework unifies and galvanizes the vision, mission and values of an enterprise into a framework that encompasses learning and growth, internal business processes, customer-driven innovation and financial factors of the business (Kaplan, Norton, 2001). Case analyses of the Tri-Cities Community Bank: A Balanced Scorecard Case (Albright, Davis, Hibbets, 2001) and Walmart Corporation illustrate how causal chain analysis is an essential component of a complete BSC strategy. The value of causal chain analysis is particularly valid for Walmart Corporation, whose business model is predicated on the continual operation of a smoothly-functioning supply chain that needs to continually translate learning into process improvement for improving the customer experience and profits (Park, Min, Park, 2011). Walmart illustrates how difficult it is to simultaneously balance the four perspectives in the balanced scorecard. Part One of this analysis illustrates through previous case analyses and research completed in this course. Part Two of this analysis defines and discusses two concepts that are essential to be successful in business administration. Part Three is s reflective essay on experiences taking this course in
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