Name Institution Tutor Date Making balanced scorecard work: the worldclass lighting experience 1. A product or service is offered a suggestion in terms of its value provided by a consumer. There are several factors that lay the foundation for increased ‘product value’ and ‘customer value’. Many businesses generate revenues when the clients offer a particular value to product or service. This could involve various features to reflect. With the implementation of the balanced scorecard worldclass lighting opts to target on consumer satisfaction. Focusing scorecard is an excellent tool it can certainly be enhanced particularly due to this Worldclass Lighting Co scenario. One challenge emerged was a complication of KPIs on the scorecard. Even though it is good to see your business in a detailed manner it is close to impossible to offer the quality that every balance scorecard requires. Furthermore another case that Worldclass Lighting could advance on if they used the balanced scorecard for a sometimes would be the AP CFO’s worries concerning target setting. [...]
This case (Making Balanced Scorecard Work: The Worldclass Lighting Experience) considers practical issues and problems related to balanced scorecard use in a large multinational organization. The issues in the case include evaluation of balanced scorecard measures and identification of factors contributing to problems with balanced scorecard use. After reading the case, prepare a 2-4 page written team response to answer the following questions: 1.What was the value proposition for Worldclass to continue the balanced scorecard, i.e., what benefits were obtainable? 2.Assess and evaluate the scorecard measures in terms of economics of information properties, i.e., reliability, verifiability, and accuracy. Relate any deficiencies noted to the problems Worldclass experienced with the scorecard. 3. Assess the scorecard in diminishing and overcoming myopic behavior (an over-focus on a short-term financial [objective] performance measure to the detriment of non-financial goals and initiatives in the business unit). 4.Assess and evaluate the scorecard from the angle of the cost of over-measurement (i.e., information overload), which is one of the detriments of the scorecard. 5.Assuming the continuance of the balanced scorecard, how can it be improved in view of the factors that contributed to its failure, for better strategy management at Worldclass?