Balanced Scorecard Organizational Performance †MyAssignmenthelp

Question: Discuss about the Balanced Scorecard Organizational Performance. Answer: Introduction This report provides a clear understanding on balance score card approach which is used by Brotherhood of St Laurence in order to establish effective value chain activities. This balance score card approach will be consisted of four important dimensions which will reflects how organization could meet its set objectives and goals in easy and determined approach. Brotherhood of St Laurence is not for profit organizations which has business toward a vision of an Australia free of poverty. In addition to this, Brotherhood of St Laurence has international brand image and headquarter of company is in Melbourne. This report provides deep understanding on balance score card and its four dimensions which could be used to achieve its set objectives and goals in determined approach. Brotherhood of St Laurence has several goals and objective to achieve with the help of its set business functioning. Goals of Brotherhood of St Laurence could be classified into two parts general and specific objectives. The general objective of Brotherhood of St Laurence is to help young people to achieve their certain goals and objective in effective manner. The specific long term objective of company is to make Australia poverty free place. This objective is very wide and accompanied with several facts and sub objectives. There are several programs which have been implemented by Brotherhood of St Laurence in its business functioning such as Refuge child outreach, Refugee actions program and implementing poverty eradications plans. In addition to this, there is other several plans have been implemented by Brotherhood of St Laurence for mitigating the poverty problems (Ahmad, 2015). There are several stakeholders and clients for Brotherhood of St Laurence People living in Australia- These are the people who are having Australian residency. However, the main focus of Brotherhood of St Laurence is to provide best quality of services and assistance to people who are living their lives below poverty line. Ambassadors- The Ambassadors for Brotherhood of St Laurence is RT Revd Dr Peter and Ms Joanna who are providing best assistance to Brotherhood of St Laurence. Donors- These persons provide financial assistance to Brotherhood of St Laurence so that it could achieve its determined goals and objectives. However, company has to meet all donors wants and needs in effective manner. Volunteers- These are the pillars for the organization who provide their services and work for Brotherhood of St Laurence at free of cost. Therefore, Brotherhood of St Laurence has to prepare organizational culture in such a way so that it could motivate all the volunteers to make best efforts for servicing people. Partner organization- These are the other organizations who have entered into strategic planning with Brotherhood of St Laurence. These partners sponsor the events and business of the companies for the better understanding of the organizational purpose. These above given stakeholders are important to consider by Brotherhood of St Laurence before implementing any policies and framework (Dudin and Frolova, 2015). Brotherhood of St Laurence has been comprised of several set of activities in which various functions are performed with a view to achieve certain goals and objectives. There are several suitable perspectives which could be used in Brotherhood of St Laurence balance scorecard approach of organization. The balance scorecard approach is consisted of several dimensions such as financial requirement, internal business functioning, customers and business stakeholders and organizational capacity. The financial perspective- In this dimension, Brotherhood of St Laurence would need to evaluate its financial performance. The financial perspective is concerned with cost and budget analysis of company. It is evaluated that Brotherhood of St Laurence has total net profit of $ 2969000 from its business functioning, in addition to this, company has been planning to make expansion in its business functioning. Specific objective- The main objective of this financial perspective is to identify the cost involved in the business and other factors which make bifurcations in cost and budget involved in the process system (Khatoon and Farooq, 2014). Customers- Ideally poor and young people are the main customers who have been provided assistance by the Brotherhood of St Laurence. It has planned to support young people to achieve their goals and objectives. However, in this perspective of balance score card, Brotherhood of St Laurence would include performance indicators, business process goals, achievement of set targets and goals and capacity utilization scores. Specific objective- The main objective of this customers focused dimension of balance score card approach of Brotherhood of St Laurence is to identify how it could make its services customized with a view to increase overall satisfaction of clients. Internal business functioning- All the people working in Brotherhood of St Laurence are volunteers and they focus on achieving internal goals and objectives. Specific objective -This perspective would include performance measurement, KPI functioning, process improvement, quality optimization and capacity utilization. Learning and growth perspective- In this dimension, Brotherhood of St Laurence will focus on its intangible drivers and often broken down into following components. Specific objective- This main objective of learning and growth perspective is related with making expansion in its non profit business organization and providing best quality of services to stakeholders. of volunteer engaged Information capital requirement Organization capital The main idea of preparing this strategic map is to outline each and every dimension of balance score card prepared Brotherhood of St Laurence in its business functioning. It is evaluated that company would make effective level of surveillance in its four dimensions through its balance score card approach. Objective of these four dimensions of balance score card approach is interrelated with each other (Bhattacharya, et al. 2014). If company fails to achieve one objective of organization then it would also result into failure to achieve other objectives as well. The whole process of strategic map in the balance score card approach could be defined with the below given chart which have been prepared by including all these four dimensions (Heginbotham, et al. 2015). Balance score card approach of Brotherhood of St Laurence is consisted of four parts named financial perspective, customer, internal process and learning and growth of the organizations. The main issues which would be faced by Brotherhood of St Laurence in implementing balance score card approach in its value chain activities would be consisted of collection of data and improvement plans. Brotherhood of St Laurence is a not profit earning organization which provides its services at break even points. The main problem in implementation of balance score card would be related with availability of finance and experts who could gauge the effectiveness of balance score card. Moreover, this BSC approach is only useful to evaluate four above given dimension and avoid other associated factors. Brotherhood of St Laurence would also need to hire other employees if it wants to adopt BSC approach in its value chain activities (Heginbotham, et al. 2015). It will not only increase the overall cost of productions and services but also increase the complexity of business functioning. However, by implementing BSC approach in its business functions, Brotherhood of St Laurence could evaluate the business performance and areas which could be improved. It is also observed that BSC approach could give idea and actions plan for making improvisation in its existing business process but it cannot provide accurate certain data. Therefore, it could be inferred that BSC approach could help organization to improve its existing performance but it is limited to the extent. However, it should be implemented under the effective supervision of experts who have good knowledge of BSC approach. These types of activities are essential for managing the business functioning of Brotherhood of St Laurence in effective manner. However, by using BSC approach, company could only take estimation of action plan for its business (Shafiee, et al. 2014). Conclusion Now in the end, it would be inferred that Brotherhood of St Laurence needs to implement effective balance score card approach for the smooth supervision of business. Moreover, Brotherhood of St Laurence could follow BSC approach for implementing Kaplan and Norton for classification its operational activities in four dimensions (Dudin and Frolova, 2015). References Ahmad, S., 2015. A balanced scorecard approach to recruitment in higher education institutions.Journal of Strategy and Performance Management,3(1), p.17. 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