Reference no: EM131777500

The Balanced Scorecard is often used as an analytical tool to evaluate organizational performance. Please review the text on this topic as well as the charts and illustrations. The Balanced Scorecard approach encompasses four different perspectives of the organization. All four perspectives are important and interrelated. Ultimately, any sound strategic plan should address all four perspectives. However, the bottom-up structure of how value is driven also provides a framework for building strategy. For example, value is only realized when something is sold to a customer. What is involved in this economic transaction and how can more be executed, at a higher margin? This is then pushed back into internal processes for improving customer processes and increasing efficiency of internal processes. This then is translated into how employees execute their job functions and improve their capabilities. If all of this is executed well, financial performance is improved. Starting with the value chain, how does StilSim generate value? (Or how might they in the future?) Push these ideas back into the BSC strategy map to determine what supporting strategies emerge. Operational Strategies Operational Strategies address how you plan to deploy (or redeploy) resources within the organization. You may be able to identify 8-12 different options for operational strategies for StilSim. These strategies are lower down than generic or corporate strategies and deal with the day-to-day operations of the company. Operational strategies could fall within any of the four basic areas of the Balanced Scorecard (BSC), ie., internal processes, customer, innovation and financial. In many instances they may overlap or support each other. Also address the following questions for this discussion: What are some of StilSim’s options with regard to operational strategies? Can you identify specific operational strategy options for each of the four Balanced Scorecard areas?