Developing a Balance Scorecard

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Develop a balanced scorecard for your bookshop (addressed in Assignment 1). Which of the four perspectives of the scorecard will be the most difficult for you to control? Why? 1. INTRODUCTION
Any new business is likely to face the countless financial problems as a consequent of poor planning. A clear strategy is accounted as key for the business success. A good strategy planning aiming at the clear objectives finalize the decisions to avoid the actions and money failure. Balanced Score Card is used usually to review the performance of the business or organization.
Like other businesses and organizations, the efforts will be made to bring the benefits of Balanced Score card in owned bookshop. This performance tool, the determinant
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The implemented plan will be monthly reviewed and assessed to find the performance. Strategy map developed. Figure 1 provided below highlights the interconnection between the strategic components and in their objectives and Table 1 provides the strategic planning designed for bookshop to run successfully and sustainably.
Figure 1: Strategic Map showing the interconnectness of the strategic components
Enhance the shareholder and customer value
Financial Perspective-

Customer perspective-

Internal process-

Learning and growth perspective-

Revenue growth and profitability
Reduce Costs

Improve the quality of product and service
Increase the number of customers

Improve the use of technology and reliability
Enhance the business performance
Improve marketing strategy

Well trained and qualified staff
Increase the system availability

New product and development

Table 1: Balanced Scorecard developed for the strategy planning Objective | Measures | Targets | Initiative | FINANCIAL PROSPECTIVE | -Revenue growth and profits-Reduce the book cost-Increase direct cost efficiency-Implementation of new concepts-Establishment of new competent marketing-Achieve financial sustainability-Meet shareholders expectations | Closure analysis of: -Profit and loss statement-Income statement-Balance sheet-Budgeting process | -Increase the sales by 50% -Meet the budget targets | - Bulk
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