A Balance Score Card for the Management of Elite Engineering

Running head: BALANCE SCORE CARD
BALANCE SCORE CARD
Name of the University
Name of the student
Author notes

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Executive summary
The aim of the report is to analyse the business strategy of elite engineering and to prepare a
balance score card based on which the management can take important changes in the
structure of the business. The report also contains the analysis of the four measures of the
balance score card and explain how all these aspects can be used by elite engineering in
framing the strategy for achieving sustainable growth. The report concludes by
recommending a modified balance score card for the organisation on the basis of the draft
balance score card prepared by the management of elite engineering.

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Table of Contents
Introduction and background.....................................................................................................3
Discussion..................................................................................................................................5
Problem......................................................................................................................................5
Analysis......................................................................................................................................7
Recommendations....................................................................................................................11
Conclusion................................................................................................................................16
References................................................................................................................................16

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Introduction and background
A balance score card is used as a premeditated management tool which can be utilised
by the management to determine and enhance the different internal affairs of the business. It
is also used as a metrics to measure and give important feed backs to the organisation. To get
the accurate results from the balance score card its is essential to collect authentic data so that
the management can take accurate decisions based on such balance score card. A balance
scorecard will be useful to interpret the available data and can help the management to take
important decision based on such data.
In the balance score card mainly four aspects are considered and based on the results
of these four aspects the management take necessary decisions which will support the
organisation to accomplish its desired objective. The four aspects of the balance score card is,
finance, customers, business process and learning and growth. From these four aspects it can
be possible to take decisions that will affect the growth of the organisation. the four aspects
of the balance scorecard model are stated below:
Learning and growth
The learning and growth are analysed on the basis of the training and knowledge
resources that the organisation have. This aspect deals with the capacity of the employees to
use the information supplied to them and how efficiently they convert such evidence to get a
viable benefit over the business world.
Business process
This aspect is assessed by analysing how effectively the products are produced. The
management have to monitor the operation process efficiently to detect the gaps, delays,

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bottlenecks, shortages and wastage in the production process and should try to mitigate such
loses.
Customer perspective
The customer perspective is used to evaluate the extent of buyer consummation with
respect to the quality, price, and quantity of the products orb services of the organisation. the
information in relation to this can be collected from the feedbacks provided by the customers
in relation to the products that are consumed by them (Cooper Ezzamel & Qu2017).
Financial data
This aspect is measured by the volume of sales, expenditure incurred and the income
earned by the organisation. the financial data is used to evaluate the financial performance of
the company and to forecast the forthcoming inclination of the organisation.
These four aspects help in framing the vision and strategy which will assist the
management to reach the desired objective that the company wants to achieve within the
stipulated time frame. The balance score card for this reason is known as a important decision
making tool for the management and not a tool for measuring the financial position of the
organisation (Rotchanakitumnuai 2017).
The balance scorecard was originaly familiarized by Dr Robert Kaplan and business
administrator and theorist Dr David Norton.

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Discussion
Problem
Reason of the failure of elite engineering
Elite engineering fail to maintain sustainability due to the two reasons which are
analysed below
First
The main reason is that the most efficient staffs of the organisation are near to their
age of retirement and there is lack of efficient successor who can make a replacement of these
members. The company is lacking a good leader who can fill the gap of the persons who are
going to retire. The company does not find a good replacement of the founder who have step
down as the chief executive officer.
Second
The management of the company predicted a variation within the viable business
environment. The organisation estimated a huge fall in the requirement for the proficient
demonstration that is related with the disaster investigation with the tort reform and due to the
limit in the punitive loss that they have to face for the civil lawsuits. The organisation has to
rely excessively on this source of income (Mamabolo & Myres 2019).
Evaluation of the need of goal congruence
Goal congruence means merging the goal of the company with the goal of an
individual. The aim of goal congruence is to direct the goal of the employees and the goal of
the organisation in the same direction. It is difficult to align the goal of the company with the
goal of the individual as when the management try to set goal for all the employees the