Balanced Scorecard Implementation for Booktopia

SOUTHERN CROSS UNIVERSITY
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Balanced Scorecard
Implementation
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Booktopia
Balanced Scorecard implementation
Page 2

1.Overview of BSC Implementation Project
The business of Booktopia Private ltd is considered for the purpose of this assessment
which is engaged in providing online books to the people in Australia. The business
provides a variety of products such as different books, maps, DVDs to the resident of
Australia. The company is also considered to be one of the close competitors of
Amazon ltd and therefore, it is important for the management of the company to
formulate appropriate strategies so that the activities and performance of the business
can be improved further (Akkermans & Van Oorschot, 2018). One of the tools
which the management of Booktopia Private ltd can implement in their business
process so as to improve the business structure is by Balanced Scorecard Approach
(Hoque, 2014). The balanced scorecard approaches appropriately help the
management to prioritize the targets of the business and take necessary actions for the
purpose of attaining the targets which are established by the management of the
company.
Balanced Scorecard is a strategic management tool which is used by the management
of a company for appropriate performance management of the business and setting
objectives for different area of performance of the business. In most of the businesses
balanced scorecard approach is used in order to derive a competitive edge in the
market by appropriate strategic management practices in the business (Keyes,
2016). The purpose of balanced scorecard is to appropriate measure performance of
the business and also monitor the activities of the business so as to ensure that the
same complies with the long-term goals and objectives of the business. In addition to
this, balanced scorecard considers four major perspectives on the basis of which the
activities of the business should be directed (Giannopoulos et al., 2013). The
balanced scorecard approach is also followed by most of the business so that effective
communication can be established between the top-level management of the business
and the lower level management. Balanced scorecard is an effective tool for the
purpose of communicating the strategic plans of the business to all the departments of
the business.
2. Recommended BSC
Strategic Objectives Performance
Measures
Financial Perspective
 Increase in sales of the
Business
 Reduction of costs of the
Business
 Sales growth by 20%
 Decline in operating
costs of the business.
Customer Perspective
 Improving the Brand Image
of the Business
 Improving Customer
Satisfaction
 Increase in total
number of customers
 Positive Feedbacks and
Service Ratings
Internal Business Process
Perspective  Use of social media and
Booktopia
Balanced Scorecard implementation
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