Integrated Business Topics

Balanced Scoreboard Assignment

A Balanced Scorecard is defined as a performance metric used to identify areas within a business to provide measurable goals of internal improvement to reflect in better external output (Investopedia.com, 2008). In this paper, a Balance Scorecard will be used against the Twisted Pint’s operations to view how the four quadrants of financial perspective, customer value, internal operations perspective, and learning and growth can provide measurable strategic objectives for financial success. In an effort for the Twisted Pint to succeed financially three financial perspectives must be closely monitored; revenues and costs, profitability, and competitive position. The financial objective of increasing revenue and lowering costs can be measured through managerial cost accounting that will track the use of cost categories such as wages, supplies, technology, and entertainment. This will allow the Twisted Pint to set targets of keeping costs below 5% of revenue earnings. To assure profitability the close monitoring of the income statement will be used to measure the gains of the Twisted Pint. An income statement is primarily used as a tool to measure the income and expenses to glean the net profit or loss over a year’s period. Based on the accurate tracking of costs and revenues as explained previously the monitoring of the income statement will allow for the itemized breakdown of how the Twisted Pint is fairing in the market and where possible areas, such as operating or non-operating expenses and revenue comparably. Lastly, to show competitive position, the Twisted Pint will aim to keep the cash inflow strong through to raise revenues and keep costs at minimum by monitoring closely the financial health of the company, this in turn will appease share holders thus making the company stronger and gaining more market share, ultimately taking the lead competitive position. In order to achieve the mission of the Twisted Pint,...