Implementing Balanced Scorecard for Booktopia

Running Head: ADVANCED MANAGEMENT 0
ADVANCED
MANAGEMENT
Submitted by
5/9/2019

ADVANCED MANAGEMENT 1
Contents
Introduction......................................................................................................................................2
Balance scorecard for Booktopia.....................................................................................................3
Pros and cons of balance scorecard for Booktopia..........................................................................6
Pros..............................................................................................................................................6
Cons.............................................................................................................................................6
Implementation of balance scorecard for Booktopia.......................................................................6
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

ADVANCED MANAGEMENT 2
Introduction
Booktopia is an online bookstore based in Australia and founded in 2004. It has been identified
that one of the greatest competitors of Booktopia is amazon, who has effectively implemented
balanced scorecard, which is the object for Booktopia to develop and implement balanced
scorecard (booktopia, 2019).
Balance scorecard is a management tool to assess strategy performance, it is a structure used by
managers of the company to have a tracking record of activity execution and to monitor and
control the activities by the staff. Moreover, the consequences of the action to be taken are also
assessing through this tool. The reported purpose is to design and implement balance scorecard
for Booktopia and assess how to balance scorecard perspectives would help to enhance the
financial figures of the company (Zhang & Tan, 2017).

ADVANCED MANAGEMENT 3
Balance scorecard for Booktopia
The set of performance and the relevant target related to four major dimensions is balance
scorecard. The four dimensions included financial perspective, internal process perspective,
customer perspective, and learning and growth perspective. This tool considers the company’s
responsibility and target plan keeping specific stakeholders in mind.
Booktopia Balance scorecard
Objectives Measures Targets Initiatives
Financial  Decrease cost
 Increase profitability
 Profit margins
 Revenue
10% and
20%
increase
 Application of
cost
management
 Economies of
scale
 Extensive
promotion
Customer  Customer retention
 Number of potential
customers
 Increased customer
loyalty
 Customer
satisfaction level
 Revenue from
each client
20%
increase
 Implement a
Customer
relationship
management
tool
 Service
improvement
strategy
 Product variety
Business
process
 Delivery service  Technology 20%  Supply chain