BUS499: Week 1 SLP

BUS499: Week 1 SLP

Introduction

This paper intends to put together the background of the four perspectives for a balances scorecard approach. The application of this approach over a selected organization will be conducted in this paper. There are different aspects which are essentially important for organizing all the relevant organizational data which is important to prepare a complete balanced scorecard. This paper do not intend to prepare a complete balanced scorecard, this paper would only serve as an initial guideline to prepare the complete balances scorecard. The paper will identify an organization for which all the relevant data like financial data; staffing and human resource systems; marketing and customer relations; information systems; and operations is readily available. Further, the organization mission and strategies will also be identified. The purpose of this paper is to make the reader aware about the different important aspects of balanced scorecards.

Discussion

The name of the Selected Organization

The organization selected for the purpose of discussion is “Kraft Foods.”

The Business, Mission, Vision and Overall Strategy of the Organization

Kraft Foods Inc. (Kraft Foods) is chiefly connected in the field of manufacturing and marketing of packaged or box up, food and beverages that includes cheese, beverages, snacks, convenient meal and several of other grocery products. The company's main brands comprise, dinners, dressings and Kraft cheeses, Oscar Mayer beef, Maxwell House coffee, Oreo brand, LU biscuits, Philadelphia cream cheese, Jacobs coffees, Milka chocolates, Nabisco cookies and crackers. Kraft Foods operate their function in over 80 countries and trade in over 140 countries around the world (Hathaway & Beron, 2006).

The mission statement of Kraft Foods is “Make Today Delicious.” Similarly the vision statement of Kraft Foods is “Helping people around the world eat and live better.” The overall strategy of the organization is to benefit the business of ...