Balanced scorecard

Ma Baker operates a chain of pizza shops. This is a competitive market, and it is difficult to get and maintain market share. Management believes that it is important to monitor competitors actions closely and to continually offer new products and special promotions to create high visibility among customers. The management recently reviewed its mission which is:

To be a caring and environmentally responsible company, providing tasty and nutritious meals at an affordable price.

As the Chief Financial Officer, you have been asked to report to the CEO how a balanced scorecard could be developed and implemented in Ma Bakers.

Required:

Your report to the CEO should consider the following matters:

a) Develop objectives and a series of performance measures for each of the four perspectives of a balanced scorecard. You should supply six objectives across the four traditional Balanced Scorecard perspectives (at least one objective in each), six lag indicators across the four perspectives (at least one in each area), and 10 lead indicators (at least one in each area). Your objectives and measures should support the mission of Ma Baker.

Set out your answer in three columns as follows:

b) Briefly outline some of the fixable reasons balanced scorecards might fail. Along with each possible failure, outline a strategy or action to reduce the likelihood of that failure. Strategies/actions should be as specific as possible. Dont outline a reason for which you cannot provide a specific strategy or action to reduce the likelihood of that failure.

State your first possible failure and put your suggested strategy or action(s) to reduce it underneath. Then state your second possible failure and put your suggested strategy or action(s) to reduce it underneath. Then state your third, and so on. (Word limit 500 words).

c) Numerous writers have also identified essential issues that need to be addressed when implementing any new system. Prepare a brief outline of these for the CEO and explain what might happen if they are neglected.

Performance measures 2. Lag indicators 1. Objectives 3. Lead indicators (Word limit 200 words). Performance measures 2. Lag indicators 1. Objectives 3. Lead indicators (Word limit 200 words)