A Balanced Scorecard of a Furniture Company

Running head: MANAGEMENT
Topic: MANAGEMNET ASSIGNMENT
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1A BALANCED SCORECARD OF A FURNITURE COMPANY
TABLE OF CONTENTS:
1. A balanced scorecard:.........................................................................................................2
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Reference:..................................................................................................................................5

2A BALANCED SCORECARD OF A FURNITURE COMPANY
1. A balanced scorecard:
A balanced scorecard is essential for the proper alignment of business decisions and to
properly device a plan of action for the company. The balanced scorecard would a
performance metric, it would improve various internal functions of the business of John and
Deborah’s corporation. It would help the management to set targets, and find out key
performance indicators, in this case, for the company’s global expansion plans.
Balanced scorecard:
Balanced Scorecard
Strategic
Priorities
Objectives Measures Targets Initiatives
Financial goals There must be effective
utilization of existing
resources of the company
such as workshop, labor
and equipment. It would
also include existing
retail spaces.
The return of investment
should be another factor.
Long term profitability of
the company
Growth in sales of the
company (Iritani et al.,
2015).
The furniture
company must
properly utilize
its existing
resources and
ensure proper
asset allocation
for both
movable and
immovable
assets.
The furniture
company must
try to maintain
a minimum of
operating
profit of 25%
per year.
Revenue
growth of 25%
within the first
2 years.
Appoint a Chief
Financial
Officer and
ensure a proper
sales audit,
increase new
Product
Development,
undertake
investment.
Client and
Stakeholder
relations.
The company must
distinguish its product
portfolio. It must ensure
proper customer service
and include all
stakeholders in every
process of product
development.
The company
must give value
to the Customer
It must insure
proper
customer
service and
satisfaction
from its product
line.
The online
catalog
business must
have positive
customer
ratings.
The company
must ensure
proper customer
participation in
every step of the
lifecycle of the
product.
Hire a business
development
manager for the
catalog business