Question

Review the example outline of Balanced Scorecard items. Describe a targeted objective for each area below that you would recommend for Walmart's company's business.

- Customers

-Managers/ Employees

-Operations/ Process

-Community/Social Responsibility

-Business Ethics/Natural Environment

-Financial

Answer 1

Answer:

Meaning of Balanced Scorecard:

Balanced Scorecard is also known as BSC Program.

Balanced Scorecard is a management tool which expresses an organization’s goal and strategy into a set of performance measurements. It supports to align all business activities strategically, enhances communication among them and maintaining the overall performance of all the departments towards achieving the company’s vision. And, finally utilizing the balanced scorecard towards the drive of change.

Balanced Scorecard items and their targeted objectives are as follows:

-           Customers: Customers perspective the objective is customer knowledge, tracking customer satisfaction and client centricity.

-           Managers/ Employees: Learning and Growth perspective like employee skill training, organizational culture and planned appraisals.

-           Operations/ Process: Meeting internal operational goals to meet customer objectives.

-           Community/Social Responsibility: CSR perspective is that by following the values by the individuals for taking their decisions, can lead to long term benefits to the organization.

-           Business Ethics/Natural Environment: Environmental perspective objective is to care and pay attention on the environment.

-           Financial: Financial perspective is tracking financial performance.

We would recommend all the above mentioned targeted objectives for each area, along with the balanced scorecard items to Wallmart Company’s business to achieve their desired Organizational Goal.