Question is attached
Clotheshound is a local clothing store in New England. Clotheshound has been experiencing increased competition from the national clothing chains. In an effort to improve performance, management intends to create a Balanced Scorecard. In a meeting, several measures were suggested by various managers.
Management has identified a key problem. Customers are taking too long to pay their department store's charge card bills, and the company has an abnormal amount of bad debts. If this problem were solved, the company would have far more cash to invest in store improvements. Investigation has revealed that much of the problem with late payments and unpaid bills is apparently due to disputes about incorrect charges on the customer bills. Incorrect charges usually occur because sales clerks enter data incorrectly on the charge account slip.
Assume that the company adopts the Balanced Scorecard. After operating for a year, there are -improvements in some performance measures but not in others. What should management do next?
How does the Balanced Scorecard communicate strategy to the organization? How is strategy translated into performance measures?
Why does the Balanced Scorecard differ from company to company? Whose responsibility is the implementation?
Based on your understanding of the application of the Balanced Scorecard, discuss how an organization successfully create and use a BSC.
Your assignment will be graded in accordance with the following criteria. Click here to view the grading rubric.
In your own words, post a substantive response to the Discussion Board question(s) and comment on other postings. Your response should address the DB question(s) and move the conversation forward. You will be graded on the quality of your postings, including mastery of the concept as well as critical thinking. If asked for your opinion, do not simply state that it is a good or bad idea; elaborate on your reasons and argument. Include enough detail to substantiate your thinking as well as your position on the questions or comments.
For assistance with your assignment, please use your text, web resources, and all course materials.
