Otago Museum

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| OTAGO MUSEUM | Comprehensive Balance Scorecard | | | | Hoi Yan Cheng 9552508 Yu Liu 9552762 BBUS 425 Advanced Management Accounting Instructor: Tony Bell Thompson Rivers University Date: Feb 1st, 2011 MEMORANDUM DATE: January 30, 2011 TO: Shimrath Paul, CEO of OTAGO MUSEUM FROM: Chris Farry, CFO of OTAGO MUSEUM ------------------------------------------------- RE: Analysis of Comprehensive Balance Scorecard for Otago Museum It is a great pleasure to have the opportunity to work with you. According to your request, I have completed the design of the comprehensive Balance Scorecard (BSC) for our museum. The newly designed comprehensive Balance Scorecard (BSC) is divided into four sectors:…show more content…
This can also help to eliminate our weakness to compete with other competitors. Measurement and Targets To measure the financial performance, the profit growth rate should be allocated to evaluate this issue. It is calculated by subtracting total expenditure from the total income then dividing by the profit from last year. The profit growth rate indicates the financial performance of the museum, and it is more measurable and controllable to employees and investors. Considering competitors’ strong financial supporting backgrounds, next year’s profit growth rate should be targeted at least 10% from national funding, local authorities and the café and gift shop operations. Learning and Growth Objective As part of our key objectives, our organization would like to provide opportunities to learn and positive experiences to the employees as well as the public. Employee training is included in our consideration to develop individuals’ talents and skills. Every individual employee in our organization is an essential component of a collective and strong management team. With strong financial support, the museum would be able to provide a better employee training environment. A better employee training package can shorten the time to train employees to a certain extent with the same training results. As the café and gift shop operations are the major targets of financing, the organization should consider focusing the sale and
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