Question

Pretend you are a manager of Monster Energy ( the energy drink company), discuss how you would use the balanced scorecard to evaluate your company. Be specific.

Answer 1

Balanced Scorecard (BSC) maps out important elements for organization to achieve the success and ultimate objectives. BSC would help us in answering some important questions like how we have performed in the past as an organization and what are we looking at to achieve in the future. A Balanced Scorecard is more than just a strategy map, but the strategy map is an important element.

I'd like to divide the BSC in four parts to look at different perspectives it has to offer.

1. Financial - To analyse the sale volumes and profit we have been generating and and the target sales volumes with optimum product and revenue mix with focus on maximizing the revenues through optimized channelization.
Focus on lower cost of production with efficient use of resources.

2. Customer - Offering best product value for price, ensuring brand visibility for Monster Energy to maximum consumer base (age group 15-25), offering variety of products through well thought portfolio.

3. Internal - Improve and focus to create robust distribution system, caring for environment and utmost importance to safety while production is carried out, getting procurement right and making it cost effective

4. People - Utmost importance to safety management across all levels of employees, being transparent and communication of information to people, recruiting and retaining of top talent, lucrative incentives for high achievers.

With the above four metrics from BSC, we’d be able to create an efficient and high performing culture within Monster Energy and achieve our ultimate objectives.