Balanced Scorecard

Executive Summary

     Driving success and close attention to detail has gained Bonton Stores Inc. respect in the retail world.  They are rated among J.C. Penny, Macy's and many others.  Business objectives created within each department support the driven success and financial needs of the company.  First quarter sales for 2013 increased 1% to 646.9M compared to 640.8M in the first quarter 2012.   The balanced scorecard is created individually at each level of management to provide a better focus on the company as a whole.  This scorecard provides an overall view of the company and each of the four areas discussed have separate metrics to show whether or not Bonton is able to meet their goals.

Financial objectives include revenue growth/total assets

“The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must take to create future value through investment in customers, suppliers, employees, processes, technology and innovation.” (Harvard Business Review)

Companies around the world have transformed themselves for competition within their industry that is based on information, their ability to exploit tangible assets has become more decisive than their ability to invest in and manage physical assets. Robert Kaplan and David Norton introduced a concept called the Balanced Scorecard the change of companies was recognized. The balanced scorecard supplemented traditional measures with criteria that measured performance. (Kaplan & Norton) Currently the balanced scorecard is being used as an organizational performance measuring tool which measures the company from four different perspectives to...