Case Study7
Case Study – BALANCED SCORECARDS AT BIOCO
1. What benefits has BIOCO realized from its use of balanced scorecards?
A balanced scorecard has four perspectives, Customer perspective, internal business perspective, Innovation and learning perspective, and financial perspectives. By using balanced scorecards, BIOCO knows what the customers needed is. It helps BIOCO to fulfill customers’ need better. For internal business perspective part, BIOCO can clear the corporate vision and strategy. BIOCO can adjust the strategy according to the pervious balanced scorecards. Also the balanced scorecards link everyone in the company and enhance the communications between each other. Meanwhile, Scorecards detailed the company’s business goals to everyone and guide every employee to work for the business goals. It will help company to meet customers’ expectations. Also balanced scorecard help BIOCO find its disadvantage and find a way to solve the problem. By helping meeting the customer expectations and improve the company itself, BIOCO can achieve a better financial principle. All of these are the benefits for BIOCO from using the balanced scorecards.
2. Do you think the BIOCO way was useful in helping the IT department align its goals with that of the company? Why or why not?
In BIOCO way, the company’s vision and strategy are translated into a long-term corporate strategic plan, which in turn is used to generate the corporate strategy map. I think it help the IT department align its goals with it. In order to measure the progress of the BIOCO way, company need to use the cascade of balanced for every department of the company. And it emphasizes how the strategies and relate tactics should be carried out and measured at all levels. So for IT department, first of all, it helps IT department clear their missions – fulfill the company’s demand for the whole business plan. The internal business perspective gives a good measurement of performance for IT department. And help IT to
1. What benefits has BIOCO realized from its use of balanced scorecards?
A balanced scorecard has four perspectives, Customer perspective, internal business perspective, Innovation and learning perspective, and financial perspectives. By using balanced scorecards, BIOCO knows what the customers needed is. It helps BIOCO to fulfill customers’ need better. For internal business perspective part, BIOCO can clear the corporate vision and strategy. BIOCO can adjust the strategy according to the pervious balanced scorecards. Also the balanced scorecards link everyone in the company and enhance the communications between each other. Meanwhile, Scorecards detailed the company’s business goals to everyone and guide every employee to work for the business goals. It will help company to meet customers’ expectations. Also balanced scorecard help BIOCO find its disadvantage and find a way to solve the problem. By helping meeting the customer expectations and improve the company itself, BIOCO can achieve a better financial principle. All of these are the benefits for BIOCO from using the balanced scorecards.
2. Do you think the BIOCO way was useful in helping the IT department align its goals with that of the company? Why or why not?
In BIOCO way, the company’s vision and strategy are translated into a long-term corporate strategic plan, which in turn is used to generate the corporate strategy map. I think it help the IT department align its goals with it. In order to measure the progress of the BIOCO way, company need to use the cascade of balanced for every department of the company. And it emphasizes how the strategies and relate tactics should be carried out and measured at all levels. So for IT department, first of all, it helps IT department clear their missions – fulfill the company’s demand for the whole business plan. The internal business perspective gives a good measurement of performance for IT department. And help IT to