Bcs Balanced Scorecard

Balanced scorecard (BCS) is a performance measurement system that directs decision makers toward long-term value creating activities. It is also very important for management same as Board of Director to be able to predict their next move in tracking the different areas in the business. By using the experiments and various test in order to see the improvement of the financial performance of the TCCB; especially, help the TCCB achieve its strategic goals.

First, Chris use the example from hospital to use the BSC to show the branch presidents measures from another service industry for TCCB’s CEO can image how the BSC work on the service industry. The hospital uses operating margin and cost per case as their primary financial measures, recommendation ratings from patients and discharge timelines information as customer measures, length to stay and readmission rate, for internal business measures, and employee training and retention measures in the learning and growth perspective. Then she instructed the branch presidents to work together to develop meaningful measures to be included on branch BSCs.

Second, Chris considers about the raw materials necessary to build a BSC program.

Third, Chris present a group of quantifiable measures that are linked through causal relationships and lead to improvement of key financial measures which has primary benefits of the BSC comes through mapping the causal relationships from nonfinancial performance. It is measures as three perspectives: learning and growth, internal business processes, and customer focus. The measures of the nonfinancial perspectives will be lead to indicators of increasing value that will ultimately be proven by improved financial measures.

Overall, Chris should prepare a series of cause-and-effect chains to illustrate to the Board of Director as following:

Causal Chain Explanation: In classify to be success for financial profit for TCCB if the company can satisfy their customer and choose to...