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Case Study- Balanced Scorecards at BIOCO

   

Added on  2021-04-21

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Running head: CASE STUDY: BALANCED SCORECARDS AT BIOCOCase Study- Balanced Scorecards at BIOCOName of the StudentName of the UniversityAuthor’s Note
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CASE STUDY: BALANCED SCORECARDS AT BIOCO1Answer to question number 1 The organization “BICO” developed a balanced scorecard in order to measure progressof the organization against strategy map. It is identified that with the utilization of balancedscorecard the organizational departments can be able to look beyond their own operations andgenerally helps the employees of the organization by setting proper tangible goals. In addition tothis, it creates proper communication between various units by focusing on long-term strategicplan of the organization. The balanced scorecard helps in reporting with much marketingprogress accuracy.Answer to question number 2The approach was useful for the IT department of BICCO in order to align with theorganizational goals. The CIO of the organization stated that with the help of the approach,communication with the organization enhances which helps in providing a focal point as well ascommon language around the various key drivers of the organization. It is found that with thehelp of the approach, IT department of the organization is able to provide proper service to thebusiness units in context to balanced scorecard performance indicators.Answer to question number 3 The approach can be implemented in large companies in spite of the fact that thisapproach needs much more co-ordination. It is found that both common language as well as focalpoints are generally helpful in improving the communication. The executives of the organizationmust identify the benefits that are mainly related with the method cost outweigh. As the effort istoo much therefore it is suggested to be look for another technique which would need thededication as well as support from the various business executives.
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