Expert answer:Revision of my answer only “Managerial Accounting”
Expert answer:HelloI would like the work that I finished to be double checked, review the requirements / instructions and the quality of my work.Please be note that the chosen company for my work is COCA COLA, also please check the below points:A- Check the word document quality and make sure its meet the requirements / instructionsB- Check the Power Point slides quality with requirements / instructionsplease feel free to add any missing requirements if any, to the work, also you can edit any points that you feel that is not fulfill the requirements.The project need to be high quality work. Requirements Student groups will be required to prepare and present the following: 1) A Balanced Scorecard for an organization of their choosing. a. Choose a company and provide a brief background about the company and why you chose to present this.b. Develop and prepare a formal BSC for this company. For each of the four (4) major areas there should be a minimum of three (3) objectives with appropriate measures for each.c. Prepare a detailed explanation of each objective/measure that fully justifies its inclusion in the BSC.d. Prepare at least two (2) strategy maps to illustrate the reasoning behind your chosen objectives and measures.e. Prepare a PowerPoint presentation that would briefly describe your company, present the major objectives and measures and the sample strategy maps.In preparation for completing the project, please read the article entitled Developing BSC at St Elsewhere. Additionally, please read the Chapter material on pages 490–495 .Your group should complete your project addressing the following items: 1. Create a balanced scorecard for your chosen company. Link your scorecard measures using the framework from the exhibits in your text. Indicate whether each measure is expected to increase or decrease. Feel free to create measures that may not be specifica lly mentioned in the chapter, but make sense given the strategic goals of your C ompany.2. What hypotheses are built into the balanced scorecard for your C ompany? Which of these hypotheses do you believe are most questionable and why?3. Discuss the potential ad vantages and disadvantages of implementing internal business process measure s for your company. Would you recommend using this measure in your Company’s balanced scorecard?4. How beneficial would it be to “drill down” the measurements of the balanced scorecard to each segment of your company? Would the metrics you developed apply to all segments of your Company? Why or why not?
balanced_scorecard_project_coca_cola_powerpoint.pptx
balanced_scorecard_project_coca_cola.docx
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BALANCED SCORECARD
PROJECT
OUTLINE
• Balanced Scorecard
• Elements of BSC
• Coca Cola Company
• Growth Strategy Coca Cola
• Mission
• Balanced Scorecard Perspectives
• Strategy Map
• Conclusion
• References
BACKGROUND
• Balanced Scorecard
• Strategic management and planning system
• Align the business operations
• Strategies adopted by the organization
• Enhancement of external and internal communication
• Monitors the performance of organization
ELEMENTS OF BSC
• Strategy Map
• Perspectives
• Themes
• Objectives
• Measures
• Targets
• Initiatives
COC A COLA COMPANY
• American Multinational beverage Corporation
• Manufactures and Retails
• Developed in 1886
• Franchised the distribution
• Addition of new flavors
GROWTH STRATEGY COC A
COLA
The growth strategy of Coca-Cola is:
• To be the driving world beverage leader.
• To speed up the rate of innovation within the company
• To leverage balanced geographical portfolio.
MISSION
The mission of the company is to help declare the
company’s purpose and serves as the standard in which the
actions and decisions of the company weigh against in:
• Refreshing the world
• Inspiring moments of happiness and optimism
• Making a difference and creating value.
BALANCED SCORECARD
PERSPECTIVES
• Financial Perspective
• Customer Perspective
• Internal Business Perspective
• Learning & Growth Perspective
BALANCED SCORECARD
PERSPECTIVES
• Financial Perspective
• Business and development
• Ripping maximum long-term financial return to
shareholders and stakeholders.
• Generating more revenue
• Reducing the cost of production
BALANCED SCORECARD
PERSPECTIVES
• Customer Perspective
• Customer and the community
• Anticipate Customer Needs and Supplying refreshment to
them.
• Be responsible citizens.
• Inspiring moments of happiness and bringing optimism
BALANCED SCORECARD
PERSPECTIVES
• Internal process perspective
• Quality
• Producing the best product to the market.
• Be highly efficient, lean and fast-moving organization
BALANCED SCORECARD
PERSPECTIVES
• Learning and Growth Perspective
• Staff
• Use of modern technology
• Inspiring employees to produce to their best.
• Motivation employees
CONCLUSION
• In conclusion, it is clear that for the success of a company
there is the need for development and regular update of
Balanced Scorecard. This will ensure that all sectors of the
firm work towards the achievement of the business vision
and mission. Development of BSC helps the organization
managers and employees to work in various departments
for the good of the entire organization.
REFERENCES
COCA COLA BALANCED SCORECARD
Introduction
The Balanced Scorecard (BSC) is a strategic management and planning system
commonly utilized in business and industry, the nonprofit organization, governments to align
their business operations to the vision and strategies used by the organization. In addition, it
enhances external and internal communication and monitors the performance of the organization
against its strategic goals (Kaplan & Norton, 2009). The Balanced Scorecard has elements listed
below:
1. Strategy Map showing the strategy for the organization on one page.
2. Perspectives. These are 3-5 groupings of objectives
3. Themes. This is a collection of strategic objectives
4. Objectives, which are the main elements of the organization’s strategy
5. Measures. These are a measure of the progress of the organization against its objectives.
6. Targets. This defines the required level of performance
7. Initiatives. These are the necessaries required projects, which help in meeting the targets
(Harvard Business School Publishing Corporation & Balanced Scorecard Collaborative,
Inc., 2008.)
This paper describes a Balanced Scorecard of Coca-Cola company. Coca-Cola is a USA
worldwide drink Corporation that makings markets and retails non-alcoholic syrups and
beverages concentrate. This best is number one flagship product Coca-Cola, which was
developed back in 1886, a John Stitch Pemberton, who was a pharmacist in Columbus, Georgia.
In 1889, John sold the formula and brand to Griggs Candler, who formed the company in 1892
and franchised its distribution across the world. The company syrup concentrate to be sold to
bottlers distributed across the world, holding exclusive territories. Today, the company has some
flavors, including Fanta which was developed in 1940’s and introduced to the market in 1950’s,
sprite which was launched in 1961; TAB introduced in 1963 and Fresca in 1966 (DLI
Productions Inc., 2014. In 1985, the company introduced a new flavor of Coca-Cola, which
destabilized the market share of its original taste, resulting in the removal of the new taste. Today
the company because of new flavors, including Dasani bottled water, PowerAde sports drink,
and Ooh, a children fruit drink.
We choose to develop the BSC for the because of the immense magnitude of its
operations, associated a large revenue and sales of its products. For example, in the year 2010,
Coca-Cola had revenue amounting to 35.12 billion dollars from operations in more than 200
countries, while in the year 2005, 50 billion Coca-Cola beverages were consumed across the
world. In 2010, however, the company sale 1.6 billion drinks each day, becoming the first brand
in UK grocery sales to top £1 billion in the same year. In terms of stock, one stock, which was
worth $40 in 1919, is now worth more than $9.8 million with an annual increase of 10%. The
company success has seen it increasing its dividends to shareholders each year of the past 49
years. Because of these successes and the competition that is arising because of the demand for
fruit drinks across the world, Coca-Cola is currently facing stiff competition with 2016 sales and
revenues declining by 4% compared to 2015 figures.
The growth strategy of Coca-Cola is:
1. To be the driving world beverage leader.
2. To speed up the rate of innovation within the company
3. To leverage balanced geographical portfolio.
The mission of the company is to help declare the company’s commitment and works as
the standard in which the activities and choices of the company weigh against:
1. Refreshing the people
2. Inspiring the happiness times and cheerfulness
3. Making a change and building value
With six main market segments across the world, namely, North America, Europe, Latin,
Eurasia, Pacific and Africa and bottling investments, the company is dedicated to being fastmoving organization producing the best refreshments. The mission of the company is to predict
and satisfy customer has needs and desires supplying quality refreshments to them. In addition,
the company endeavors to be responsible citizens by assisting in rebuilding and supporting the
sustainability of the community while ripping maximum long-term return to its shareholders. In
addition, the company strives to use modern technological advancement to reduce the cost of
production to increase profit while at the same time inspiring employees to develop to their full
potential as they continue to produce excellent products to the market.
To successfully implement above mission into practice, it is important to develop a
strategy map, which will help categorize various objectives into four basic perspectives, namely:
Financial perspective, customer perspective, internal process perspective, and lastly; learning and
Growth perspectives.
Financial Perspective
(Business and development)
1. Ripping maximum longterm financial return to
shareholders and
stakeholders.
2. Generating more revenue
3. Reducing the cost of
production
Customer Perspective
(Customer and the community)
1. Anticipate Customer Needs
and Supplying refreshment to
them.
2. Be responsible citizens.
3. Inspiring moments of
happiness and bringing optimism
STRATEGY
MISSION
VISION
Internal process perspective
(Quality)
1. Producing the best product to
the market.
2. Be highly efficient, lean and
fast-moving organization
Learning and Growth
Perspective
(Staff)
1. Use of modern
technology
2. Inspiring employees to
produce to their best.
3. Motivation employees
Strategy Map No 1.
Mission: 1. To refresh the World
2. To inspire moment of happiness and optimism
2. To create value and make a difference
Financial perspective
Reduce the cost of production
Customer Perspective
be responsible citizens by assisting in rebuilding and supporting sustainability of
the community
Internal Process perspective
Be highly effective lean and fast-moving organization
Learning and Growth Perspective
Inspiring employees to be the best they can be
Strategy Map No 2
Mission: 1. To refresh the World
2. To inspire moment of happiness and optimism
2. To create value and make a difference
Financial perspective
Ripping maximum long-term financial return to shareholders
Customer Perspective
Inspiring moments of happiness and bringing optimism
Internal Process perspective
Producing the best product to the market
Learning and Growth Perspective
Use of modern technology
Learning and Growth Perspective
1. Inspiring Employees to be the best they can.
ACTION
Develop peer recognition program
MEASURES:
Employee productivity (Lag indicator)
Employee turnover rate (lead indicator)
2. Use of modern technology
ACTION
Getting rid of old power consuming machine and replacing
them with new technology, which use solar power to power them.
Use of computerized machine to increase precision and save time in the production process.
MEASURES:
Measuring the energy and efficiency variation after installation of a new technologically superior
machine.
The rate of replacement of new technology
3.
Motivation of Employees
ACTION:
Development of performance-based compensation
Review and updating salaries
MEASURES
The number of innovations
The ability of the employee to finish the task within the required time.
Customer perspective
1. Anticipate Customer Needs and Supplying refreshment to them.
ACTION
Conduction market research to determine the customers taste and supplying products, which
meet their specification to them.
MEASURES:
Measuring the number the number of customers willing to come back
Measuring the number of units supplied to the customer
2. Be responsible citizens.
ACTION
Taking part in community development and introducing outreach programs such donation of
money to the need as well as using environmentally friendly means of production.
MEASURES
The number of outreach programs done by the company.
Measuring a number of waste products and carbon released into the society
3. Inspiring moments of happiness and bringing optimism
ACTION
Supplying healthy products to the customers
MEASURES
Measuring amount of unhealthy products in their products such as excess fats and preservatives
Measuring the number of customers who come back
Financial Perspective
1. Ripping maximum long-term financial return to shareholders and stakeholder.
ACTION
Ensuring that shareholders are given dividends every year
MEASURES:
The rate at which the company’s stock is gaining value in the stock market
Measuring amount of dividends that the shareholders get each year per a single stock
2. Generating more revenue
ACTION
Increasing advertisement to inform the customers about the products
The introduction of promotional coupons to motivate customers to use the product.
MEASURES:
A number of sales made each year
3. Reducing the cost of production
ACTION
Introducing technology which enhances efficiency and reduction of energy consumption
MEASURES:
The amount of money used in production
The amount of net profit generated each year.
Internal process perspective
1. Producing the best product to the market.
MEASURES
Measuring the rate of success of our product in the market compared to other products in
the market.
Measuring the number of new products launched and dominating in the market compared to
those already in the market.
2. Be highly effective, lean and fast-moving organization.
MEASURES:
Measuring the amount of time that the company takes to complete an activity in the process of
production.
Measuring the expansion rate of the company.
The above objectives and measures are necessary for the inclusion to BSC because they
all help to ensure that the growth strategy is achieved. For example, by producing the best
product in the market, the companies will enjoy a high number of customers, at the same time
ensuring that the customers are happy with the product thus promoting happiness. The measure
of these objectives is to measure that extent at which the products are accepted in the market
compared to products from competitors. If the competitor’s products are higher in demand
compared to Coca-Cola drinks, it means that the company product is not the best.
Since the company is hoping to the driving world beverage leader, it is important that is
operation be effective, lean and fast moving. To measure achievement of these products, it is
important to determine the amount of time that it takes to process until it delivers its products to
the market. If the company is effective, then the time used should be lower compared to the
previous period and its competitors. In addition, the company should be expanding by setting
new plants in territories where their products are not available.
For effective implementation of various strategies necessary for making achieving its
vision, it is important to set financial objectives that are measurable. For example, it is important
for the company to generate more revenues, reduce the cost of production and ensure that its
investors- the shareholders- rip more profit from their investment. These objectives should be
measurable regarding money. For example, the amount of money used in productions process
should reduce to increase net profit. This will have a great impact on the amount of money
available to give as dividends to shareholders.
In conclusion, it is clear that for the success of a company there is the need for
development and regular update of Balanced Scorecard. This will ensure that all sectors of the
firm work towards the achievement of the business vision and mission. Development of BSC
helps the organization managers and employees to work in various departments for the good of
the entire organization.
References
DLI Productions Inc. (2014). The Coca-Cola Conquest – Part II: Cola War and Peace.
Montreal: National Film Board of Canada.
Harvard Business School Publishing Corporation & Balanced Scorecard Collaborative, Inc.
(2008). Innovation Toolkit: A multimedia toolkit to help you develop an innovation
strategy within your organization. Watertown, MA: Harvard Business School Pub.
Corp.
Kaplan, R. S., & Norton, D. P. (2009). The balanced scorecard: Translating strategy into
action. Boston, MA: Harvard business school press.
…
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