Ldg W/ Wisdom, Vision & Value

4.3 Assignment. Creating a Strategic Plan, Part 4 - Scoring the Current Situation Using the Balanced Scorecard

Getting Started

As the reading for this assignment informs us, a Balanced Scorecard is a widely used tool for strategic planning. While by itself, the Balanced Scorecard does not create the organization’s strategy automatically, it provides a very valuable snapshot and overview of how the organization is performing. As you will see in the example below, balanced scorecards typically consider four different components of the organization: objectives, measures, targets, and initiatives. Balanced scorecards also assess these components through four different perspectives: financial, customer, internal business processes, and learning and growth. 

In this assignment, you will create a Balanced Scorecard for your chosen organization. As you have crafted various tools over these past few weeks, you should be acquiring insights that will be of value in pulling together a strategic plan for your Course Project in Week #6.

( Image transcript (PDF document) )

Upon successful completion of this assignment, you will be able to:

· Create a balanced scoreboard to assess the current situation of an organization.

Background Information

Instructions

1. Review the rubric to make sure you understand the criteria for earning your grade.

2. Read the article  Everything You Need to Know About the Balanced Scorecard (new tab) .

3. This assignment represents the fourth component of the strategic plan you are building for your Course Project, due in Week 6.

4. For the organization you chose during Workshop #1, use the knowledge you gained in reading and viewing the assigned materials this week to conduct a Balanced Scorecard.

5.  Investigate to determine the types of data that you are able to collect. These could include any and/or all of the four perspectives from the Balanced Scorecard chart above: financial, customer, internal processes, learning, and growth (think HR or employees). Depending on the organization, you may also find data from external sources that inform your analysis.

. NOTE: While data collection is part of any sound strategic planning process, it is understood that there may be limits to data that you are able to access for this assignment. Do your best to gather any available data and provide a brief description of data that you would like to include but are unable to obtain. In some instances, you may be able to talk to someone in your organization who can provide a thoughtful perspective on one or more areas of the Balanced Scorecard even if you can’t access specific data directly.

· Your written assignment must begin with the descriptive paragraph(s) about your chosen organization from Assignment #1.5. Then, use the  Balanced Scorecard template (Word document)  to thoughtfully fill out each of the columns as they relate to your chosen organization. Finally, include a couple of closing paragraphs that provide rationale and insights for your analysis, as well as how the Balanced Scorecard enhanced your understanding of strategic planning compared to the other tools you already have built in this course.

· This assignment should consist of 2 to 3 pages, not including the title and reference pages.

· A minimum of 2 sources other than assigned materials are required to help better inform your Balanced Scorecard.

All papers are to be written and formatted in accordance with the APA Guidelines (7th ed.)