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Finance 2 Pages

The Balanced Scorecard & The Financial Perspective

Question

The Balanced Scorecard & the Financial Perspective

The purpose of the Session Long Project is to give you the opportunity to explore the applicability of the Module to your own life, work, and place in space and time, and to experiment with the Module to see how the otherwise academically rigorous presentation of a topic may, with more or less work and/or trauma, become "up close and personal". This is done in a number of different ways -- sometimes cumulative papers, sometimes practical hands-on experimentation with a tool of some sort, sometimes reflections on a place of work or life. The common thread is personal application, aimed at demonstrating a cumulative knowledge and understanding of the course's material.

For this course, the Session Long Project will take the form of putting together background from each of the four perspectives for a balanced scorecard approach to an organization or organizational unit with which you are familiar. In the final module, you will have a go at strategy mapping. You’re not building a complete balanced scorecard -- that would be far beyond our current scope – but you’ll have a chance to see what goes into it and how it gets put together into a coordinated whole. As in the cases, you’ll be drawing on your previous course work to help.

The Module 1 assignment has two parts. First, you need to identify an organization(Comcast Cable) to which you have access to at least some information concerning financial data; staffing and human resource systems; marketing and customer relations; information systems; and operations. While most material on the Balanced Scorecard is written from the private, for-profit point of view, it’s perfectly possible to use this approach with public or non-profit organizations as well.

For the second part of this assignment, consider the organization's mission and strategy from the perspective of its financial operations (from your work on the case, your previous course work, and your background reading, you should be reasonably clear what such operations are). In this section of the assignment you’ll begin to identify objectives and measures relevant to that perspective. If you’re unclear on just what objectives and measures are, here is a presentation that describes what they are and how to write them.

SLP Assignment Expectations

When you have thought about it and made your selection, please specify (2-3 pages):

•The name of your organization (Comcast Cable)

•What this organization does – its mission, vision and overall strategy

•The access you have to information about this organization -- remember, you’ll need information about its financial performance, marketing, internal operations, strategy, and management systems.

Once you’re reasonably clear on what’s involved, think about your organization and its finances, and then:

•Identify at least three objectives for improving the organization's financial position, and show how they relate to the mission, vision and strategy of the organization.

•For each objective, develop at least one meaningful performance measure (metric).

•For each objective, identify at least one expected level of performance (target).

•For each objective, identify at least one new action or program that needs to be developed to ensure successful implementation of the organization's strategy (initiative).

Solution

Title: The Balanced Scorecard & The Financial Perspective
Length: 2 pages (550 Words)
Style: N/A

Preview

The Balanced Scorecard & the Financial Perspective

The company analyzed in this paper is Comcast Cable Communication operating under the brand name-Xfinity. According to the company’s official website, Comcast Cable is one of the largest phones, video and high speed internet providers serving both residential customers and businesses. Comcast Cable has a three word slogan “ready to work”, with the catch phrase among the most memorable slogans. In line with its values, the company’s vision and mission statement are targeted for its customers and its employees. The company’s vision statement is “"As Comcast Cable evolves; we continue to look to the future - seeking out new communications technology, new opportunities, and more choices. We want to continue to provide people with the communications products and services that connect them to what’s important in their lives.” Comcast Cable’s value statement is “As we shape the future of media and technology, our 139,000 employees strive to earn the respect and trust of our customers, our shareholders and members of the communities we serve”.

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