Formosa Plastic Group Case Study

The use of a balanced scorecard when gauging the performance of executives at Paradigm Toys is useful because it measures several key areas that measure past and real time performance that directly affects the company. A balance scorecard can contain both financial and nonfinancial measures as well as both quantitative and qualitative performance measures. Additionally because a balance scorecard can be tailored to the business’s specific targets it can measure the substance of performance better that basic financial indicators that are usually considered the basis of performance ratings. It is important to use more than just financial indicators, because other factors, those qualitative in nature, measure how an employee does their job and gives a larger picture of how well an employee performs. For example, in the case of sales concerning installation of home improvement products one might be measured by repeat buyers or customer satisfaction of how well the salesman followed up with their sale and installation. This kind of non-financial factor can be used to measure the company’s goal of repeat buyer and customer satisfaction which can translate into future sales and growth. Financial indicators are used in similar ways, but are more quantitative in nature. The main reason to use financial indicators is because they can provide a clear picture

Plastic's end of life cycle involves being discarded, either recycled for reuse or dumped into a landfill or the ocean. Recycling's popularity has significantly grown since the 1970's, as well as the overall number of plastic products being produced. In addition, the amount of plastic products being created as significantly increased over the past 60 years. Due to the endurance of polymers, plastic is filling up landfills faster than it should and invading our natural habitats. Recycling is one of the most critical things we can do for our environment. It can cut down on the amount of plastic in landfills as well. Recycling plastic reduces the need to create more plastic, which also cuts down on oil use and pollutants being released into the air. In the time that recycling has become more popular, technology has advanced to create more job

Balanced scorecard is a methodological tool that businesses use to get a measure by which someone can determine whether the set goals have been met or exceeded. It adds non-financial metrics to traditional financial metrics to give a well-rounded view of the performance in an organization. Balanced scorecards also help organizations to predict their success in meeting their overall strategic goals.

There are four perspectives when it comes to balanced scorecard. First one is learning and growth which means how the information and knowledge are processed and turned into competitive advantage against other companies. Second is about product manufacturing and making sure that all the products are made the same without any defaults. Third one is about customer satisfaction and making sure that customers are happy with product, service and price. Fourth one is about financial performance and making sure that company’s financial data is used properly.

Balanced scorecard is a set of measures, which give the complete view of any business performance. Kaplan and Norton (1995) explained balanced scorecard in following words:

A balanced scorecard is a performance measurement system, which takes into account the customers, internal business processes, learning and growth, as well as financial

The balanced scorecard is a strategic planning and management system is used to help align activities of the vision and strategy of the organization, and apply it to the overall

The balanced scorecard is a strategic planning and management system that was developed by Dr. Robert S. Kaplan and Dr. David P. Norton in the early 1990's. Their goal was to provide organizations with a clear understanding of what to measure in order to improve performance and results (Balanced Scorecard Institute 2014). The balanced scorecard is a framework that allows an organization to measure performance and compare it to the organization’s strategic objectives and goals (Kinney and Raiborn 2013, 10).

"This system should be tailored to suit the company’s corporate culture, capabilities, information system, technological level of development etc" (Malvutova, 2013) because it is a framework that is aligned throughout the entire organization. The balance scorecard is so vital that in order to produce the best quality performance, it has no limits and reaches down to a hospital department level (Pane, 2011). Pane gives an example in his article of how the balanced scorecard "can be used to determine whether an

computer hardware sector. The company has a high brand value in the market due to its cost

The company formed a joint venture with Li & Fung Retailing in 1999 to expand its presence in Thailand, the Philippines, and China.In early 2000 the company hired John Eyler away from FAO Schwarz as president

ON the other hand if it is properly recycled we are able to reuse the same plastic over and over again for long periods of time while at the same time keeping a low production cost This is why plastic is cheap even though it contains oil a very high priced item, for as long as people do their best to not waste plastic and recycle it there really is not a need to waste our precious oil and manufacture more of it.

The Balanced Scorecard (BSC) is a performance measurement tool that originated in the business worlds. Performance measurement is a way to track performance over time to assess if goals are being met. Organizations measure their performance to monitor how they’re doing in achieving their overall mission and goals.

In reverse, P&G promoted the continuous improvement of logistics services of Paogong which has been the today's leading third-party logistics company.

The case study talks about the problems faced by the Europe’s largest manufacturers of plastic household items, producing over 500 products in its French Factory.