BALANCED SCORE CARD IN FUTURA'S INDUSTRY

Balanced Score Card in Futura's Industry



Balanced Score Card in Futura's Industry

Introduction

A business management tool continuously shows when a company and its employees achieve the results defined by the strategic plan. In addition, a tool helps the company to express the goals and initiatives necessary to fulfill the strategy. To achieve corporate objectives companies must have a specific strategy to help them build and create a successful future transformation from everyday reality.

To achieve the goals it is necessary to manage the strategy and the Balanced Scorecard is a powerful tool that helps companies to formulate the objectives and initiatives necessary to fulfill the strategy. With the service, creation and implementation of Balanced Scorecard and Strategy Map lead towards,

1)Translate strategy into operational terms targeted.

2)Linking strategic objectives and indicators

3)Aligning the company with strategy

4)Systematically measure the performance of the strategy.

5)Making strategy work worldwide

6)Make strategy a continual process

7)Communicating the strategy of practically the entire company

8)Having a visual representation of the strategy

Discussion and analysis

The BSC as a model for organizational assessment

The BSC has emerged as a new model for organizational assessment that proposed criteria evaluation, complementary to the usual financial analysis of a company (Kaplan and Norton, 1992), refuses to focus on decisions in financial matters, under penalty of losing long-term perspective. Therefore, beyond the strictly financial perspective, there are data concerning three other perspectives judged as informative on the future capacity the Futura Industries including: customers, internal processes and on the ability to learn and grow.

Futura industry focuses on the reliability of their customers. They levy from different perspectives for consideration by a symptomatic of a learning organization, which seeks to collect and understand all information pertaining to their business an organization that recognizes the areas need to choose where to focus their attention, since it is impossible to face all information provided. The approach of Futura industry in using BSC included reliable process.

The first process, translating the vision, helps managers to build consensus around the strategy of the company and able to express it in terms of direct actions at the local level.

The second, reporting and monitoring, enables managers to communicate their strategy up and down the organization and link it to the unit objectives and individual goals.

Third, business planning enables companies to integrate their business and financial plans.

The fourth, feedback and learning, gives companies the capacity for strategic learning, which involves getting the information retrospectively verify the ...