Question

Explaining the specifics of the balanced scorecard system of Wells Fargo in your research. This presentation should include your analysis of the advantages and disadvantages of the company's Balanced Scorecard System. Be sure to clearly document the performance measures being used by the Wells Fargo?

Answer 1

Balanced scorecard

balanced scorecard is a performance metric used to identify and improve various internal business functions and their resulting external outcomes. Balanced scorecards are used to measure and provide feedback to organizations. Data collection is crucial to providing quantitative results as managers and executives gather and interpret the information and use it to make better decisions for the organization.

The balanced scorecard involves measuring four main aspects of a business:Financial , customer,Internal Business and learning and growth

Advantage

1.it gives structure to your strategy

2.it make it easy to communicate your strategy

3.it helps the employees see how thier individual goals link to the organisational strategy

4.it aligns your departments and division

Disadvantage

1.it can be overwhelming framework

2.it can't be copied precisely from examples

3.it requires strong leadership support to be successful

4.it can be difficult to keep everyone on the same page