Balanced Scorecard of Shari’s Beauty Line Business

Introduction A balanced scorecard can be defined as a system for managing an organization's strategic plan and helps management to use the internal and external communication processes to check the company's performance (Wheelen & Hunger, 2004 ). The Balanced Scorecard helps organizations in the beauty industry to synchronize all business activities and actions based on vision and strategy. The main role of the Balanced Scorecard is to provide a framework dimension that allows organizations to follow a fair perspective to carry out various objectives such as shareholder value, customer value, internal work, and learning.

The Balanced Scorecard Association defines a balanced scorecard. It is a management and planning system that integrates business activities with strategic objectives to monitor vision and organizational strategy, communication (internal and external), and organizational performance. Most organizations use balanced scorecards to bring effective changes. However, Apple's change operation scorecard is not implemented, but it is for long-term performance. We focus on various measurement categories in the following order.

* The Balanced Scorecard was launched by David Norton, a founder and president of Balanced Scorecard Collaboration with Professor Robert Kaplan of Harvard Business School in the early 1990s as a collaboration of a new business strategy. Today, more than half of North American Fortune 1000 companies are using balanced scorecards. It is a characteristic of an excellent operating organization. Organization-Wide Targets and Countermeasures - Once you set strategic goals, you need to convert them to goals and actions that can be clearly communicated to the planning team (team leader or team member). Set goals to convert strategic goals to specific performance goals. Effective goals clearly state what, when, how and who, and if they are measurable in particular. They should solve what you need to do for a short period of time (1 to 3 years) to achieve your strategic goal.

The Balanced Scorecard is a set of indicators to comprehensively grasp all the achievements. Kaplan and Norton (1995) explains the Balanced Scorecard using the following terms. The Balanced Scorecard needs to convert the mission and strategy of the business unit into concrete goals and measurements. Balance between Measurements These measurements are the balance of the measurements of the results, the results of past efforts, and measurements to promote future performance. balance……"