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

Balanced Scorecard

Area of Objective	Target	Time of happening	Responsibility
Customers Brand Indentity Satisfaction	Industry Reports/Market Cap, Customer Survey	Yearly Yearly	Marketing Officer Marketing Officer
Employees Employee Moral Service Training	Survey Number of Seminars	Yearly Yearly	People Officer Administrative Officer
Operations Diversify Product Line	Acquire Kelloggs Company	Yearly	Administrative Officer
Business Ethics Ethics Training Recycling	Number of training session Recycle 50% of total wastes	Yearly	People Officer
Financial Revenues Ratio Analysis	Increase by 50% each year Better than industry average	Yearly Yearly	Financial Officer Financial Officer

This balanced scorecard is best for Coco Cola as it is a company full of growth potential as its current markets are saturated with limited products. By acquiring Kelloggs, it can diversifu its product line up. With a lot of allegations wrt to water contamination, it will be best for the company to invest on recycling. Focussing on brand identity and customer feedback helps improve the system of checks and balances. All these strategies are included in this balanced scorecard.