Balanced Scorecard of Shari’s Beauty Line Business Essay

Balanced Scorecard of Shari’s Beauty Line Business Essay

Length: 1701 words (4.9 double-spaced pages)

Rating: Powerful Essays

Open Document

Essay Preview

Introduction
The balanced scorecard can be defined as the system that manage the strategic planning of the organization and assist the management to utilize the internal and external communication process to examine the performance of the firm (Wheelen & Hunger, 2004). This balanced scorecard will assist the beauty line business organization to synchronize all the business activities and action according to the vision and strategy. The main role of balanced scorecard is to provide a dimension of framework through which the organization can follow an impartial perspective for the execution of various objectives such as shareholders value, customer value, internal operations and learning and growth (Sadler & Craig, 2003).
The given balanced scorecard would be supportive for the beauty line organization to evaluate the various metrics and targets according to the strategic mission and vision. This will also help the firm to analyze the performance of the employees and business in the industry (Pierce & Robinson, 2009). In addition, this balanced scorecard will make easy for the firm to execute innovative strategies, so that the firm can strengthen its strengths and utilize environmental opportunities to achieve the mission and vision of the firm (Pienaar & Penzhorn, 2000). The four quadrants of a balanced scorecard are as followed to evaluate the performance of the company (Olve, 2006).
 Financial Perspective and Shareholder Values
 Customer Value Perspective
 Process or Internal Operations Perspective
 Learning and Growth (Employee) Perspective
The balanced scorecard for the beauty line organization for the development of various strategic objectives and tactics is as followed:

Balanced Scorecard Category Strategic ...


... middle of paper ...


...rning.

Kaplan, R.S. & Norton, D.P. (2006). Alignment: using the balanced scorecard to create corporate synergies (eds.). Harvard Business Press.

Niven, P.R. (2002). Balanced scorecard step by step: maximizing performance and maintaining results (eds.). John Wiley and Sons.

Olve, N. (2006). Balanced scorecard (eds.). John Wiley and Sons.

Pienaar, H. & Penzhorn, C. (2000). Using the Balanced Scorecard to Facilitate Strategic Management at an Academic Information Service. Libri, 50, 202-209.

Pierce, J. & Robinson, R. (2009). Strategic Management: Formulation, Implementation and Control (11th Edition). New York: McGraw Hill Companies.

Sadler, P. & Craig, J.C. (2003). Strategic management (2nd Edition). Sterling, VA: Kogan Page Publishers.

Wheelen, T.L. & Hunger, J.D. (2004). Strategic Management and Business Policy (9th Edition). Pearson Education.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on SWOTT Analysis: Beauty Line Organization

- SWOTT Analysis The proposed SWOTT Analysis is prepared for the Beauty Line Organization. The report will present an analysis of external and internal environment and various recommendations for the firm to improve its profitability. SWOTT ANALYSIS TABLE Factors Strength Weakness Opportunity Threat Trend External Factors Legal and Regulatory Certified and Licensed products High involvement of government and legal regulations Expansion of business due t the certification and authorized products Continuous changes in the policies and regulations Quality and standard products Economic Strong US Economy Recession in the economic environment Market Expansion in the rich economic area E...   [tags: Business Analysis]

Powerful Essays
2191 words (6.3 pages)

Triple Bottom Line- Building A Roadmap For Responsible And Sustainable Business

- Triple bottom line- Building a roadmap for responsible and sustainable business “Champions of sustainable development like to use a triple bottom line approach based on the tripod of Ecology, Equity and Economy…” – William McDonough In the centuries earlier, a business was perceived to be efficient if it was successful in earning profits for its owners, thereby serving their pecuniary interests well....   [tags: Sustainability, Triple bottom line]

Powerful Essays
1046 words (3 pages)

Essay on A Report On The Assembly Line Workers

- After the design created by the principal engineer was approved by the customer, it underwent a variety of tests to fix any bugs that still remained within the design. After these issues were solved, they were able to send the design into final production where the product would be assembled and shipped to the customer. They anticipated that the materials will come in mint condition from the suppliers in order for the workers on the assembly line to easily connect the components of the headliner....   [tags: Assembly line, Production line]

Powerful Essays
995 words (2.8 pages)

L'Oreal's Plenitude Line Promotion Essay

- Originally, L’Oréal creates innovative products that combine quality, effectiveness and safety in every branch of cosmetics: hair-care, coloring, skin-care, make-up and perfume. In France the Group presented sales of 53.4 billion French Franks, over 2,000 different products, with 500 brand names. It operates in over 150 countries. Plenitude line consisted of 14 different daily and treatment moisturizers and cleansers was promoted in the United States of America (the USA) since 1988. 7 years later the sales of 63.4 million USD were achieved showing loss of 12.5 million USD....   [tags: france, beauty, skin care]

Powerful Essays
753 words (2.2 pages)

Business Plan for Beauty Products Company Essay

- Table of Contents Executive summary 2 The company 2 Company description 2 Vision statement 3 Mission statement 3 Objective 3 Company background 4 Product/ service and industry 4 Product/ service description 4 Industry description 5 The market 5 Market and target customer 5 Competition and competitive advantage 6 Marketing strategy 6 Overall strategy 7 Sales plan 7 Competitive plan 7 Research and development or growth plan 8 The organization 8 Legal and organizational structures 8 Key personnel 8 Related service providers 8 Location 9 The financials 9 Critical risks 9 Income statement 9 Cash flow projection 10 Balance sheet 10 Start- up costs 10 Assumptions 11 Schedule 11 Conclusion 11 Refere...   [tags: Business Plan for Cosmetics Company]

Powerful Essays
3000 words (8.6 pages)

Sustainability And The Triple Bottom Line Essay

- Sustainability is often defined as managing the triple bottom line. The triple bottom line is a process by which companies manage their financial, social and environmental risks, obligations, and opportunities. The triple bottom line is also referred to as the 3 P’s (profits, people and planet). Sustainability represents flexibility over time in that businesses create economic value, healthy ecosystems and strong communities. A sustainable business varies depending on the field. For example, in manufacturing, a sustainable business may include waste elimination and greenhouse gas reduction, whereas in retail, experts focus on ways to minimize waste in packaging and ways to facilitate energy...   [tags: Sustainability, Triple bottom line]

Powerful Essays
845 words (2.4 pages)

Essay on Crime Against True Beauty

- Eight girls are standing in line at a movie theater. All smiling in a carefree manner that could be expected of any all American teenage girl. However, statistics say that two of these girls bare scars on their bodies that our society would deem, “self-inflicted”. The truth of the matter is, these two girls are wounded by the immense weight of our cultures requirements for beauty. Requirements that can potentially be explained by science, but neither the way in which our society allows itself to be controlled by such mundane fancies nor the effect on the people it oppresses is by any means justified....   [tags: Beauty]

Powerful Essays
1049 words (3 pages)

Sustainability Of Triple Bottom Line Essay

- A declared goal of multiple corporations, non-profit organizations, and local/state/federal governments in the past ten to fifteen years has been sustainability. Although sustainability is a goal for many, measuring the degree to which a business is being sustainable or tracking sustainable growth can be challenging. A man by the name of John Elkington saw the need for a sustainable growth measurement system, and strove to measure sustainability by bringing to view a new outline to measure sustainable performance in corporate America....   [tags: Sustainability, Triple bottom line]

Powerful Essays
1143 words (3.3 pages)

Article Analysis: How the Media Keeps Us Hung Up on Body Image by Shari Graydon

- Everyone care about beauty and media comes in the way to for its interest by using body image as a tool which only exists in people’s mind. It is unbelievable that how media is blamed for its actions. In the article, “How the Media Keeps Us Hung Up on Body Image” by Shari Graydon, the author claims that women are suffering from unhealthy and harmful disorders due to media influence. As strength, Graydon raises the attention of the readers by giving information on how media is affecting women through the usage of celebrities, professionals and researches’ data....   [tags: beauty, media influence]

Powerful Essays
1259 words (3.6 pages)

Sustainability Of Triple Bottom Line Essay

- A declared goal of multiple corporations, non-profit organizations, and local/state/federal governments in the past ten to fifteen years has been sustainability. Although sustainability is a goal for many, measuring the degree to which a business is being sustainable or tracking sustainable growth can be challenging. A man by the name of John Elkington saw the need for a sustainable growth measurement system, and strove to measure sustainability by bringing to view a new outline to measure sustainable performance in corporate America....   [tags: Sustainability, Management, Triple bottom line]

Powerful Essays
721 words (2.1 pages)