Question

Balanced scorecards are widely used by companies to “balance” their financial with nonfinancial objectives. Do a Google search using the phrase “Coca-Cola balanced scorecard” or “balanced score-card images” or “balanced scorecard examples” to see examples.

Prepare a new and improved balanced scorecard for Coca-Cola. Explain why your recommended balanced scorecard is best for Coca-Cola.

Answer 1

As we know that Balance Score card is a strategic management tool for assessing the organizational performance. We can see Coca cola company in its four important dimensions discussed below:

1) Financial Prospective:

On this front , coke is doing great as it has one of the greatest capital formation through sustainable development of its business model. It is empowering people across the world and expanding in food related activities. In softdrink and FMCG sector, it is one of the top notch global name.

2) Customer perspective: To this front , Coke is experiencing global favor from diverse set of customers. In this response, it has launched diet coke and targeting now to capture the energy based but low calorie diet related drink. Fruit juice is one of the untapped area for this global brand.

3) Internal business process:

Coca cola helps itself and its partners through cooperation and strategic discussions. It has global chain of bottlers and refills franchises but it maintains it brand logo along with boosting business outcomes to its channel partners.

4) Training and development activities

Coke is operating to train a pool of young professionals specifically managers and technologically innovative people. It will help it to formulate business model as well as sustainable innovation in production and product development.

This balance score card is one of the best because it highlights the ground level channel strategies adopted by Coke business. We know that people are avoiding softdrinks so Coke is launching less calorie, fruit juice based items and typically herbal drinks too.