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MGT4023 Strategic Management

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MGT4023 Strategic Management

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MGT4023 Strategic Management

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Course Code: MGT4023
University: University Of Glasgow is not sponsored or endorsed by this college or university

Country: United Kingdom

Ab limited was formed ten years ago to provide business equipment solution to local businesses. it has separate divisions for research, marketing, product design, technology and communication services, and now manufactures and supplies a wide range of business of business equipment.
To date it has evaluated its performance using monthly financial reports that analyse profitability by type of equipment.
The managing director of ab limited has recently returned from a course on which it has been suggested that the “balanced scorecard” could be a useful way of measuring performance.
A.Explain the “Balanced Scorecard” and how it could be used by AB Limited to measure its  Performance.
Note: four perspective of balanced scorecard should be considered:
Financial perspective,
Customer perspective,
Internal business process,
Innovation  & learning
While on the course, the managing director of AB Limited overhead someone mention how the performance of their company had improved after they introduced “Benchmarking”
B.Explain “Benchmarking” and how it could be used to improve performance of AB Limited .


The concept of balance score card is the technique of strategic planning and the management system that helps the companies to achieve in the objectives that they are trying to achieve. It further helps them in aligning in the day to day work or the activities that are being performed and aligning it with the various strategies and the aims of the company. This technique also helps in prioritising in the products, services and the projects. It further helps in the measurement and the monitoring of the progress about the strategic targets.
Balance Score card:
This is the technique that helps in connecting the dots all between the mission of the company, its core values and the big picture of the strategies of the company. It helps the management in fulfilling in the targets and also fulfil the initiatives. This technique views the company from 4 different perspectives and also develops various different objectives that measures, targets and actions in with relation to the below mentioned points:

Financial: this also termed as Stewardship and is also known very common in the public sector. This is the perspective which shows in the financial performance and uses the different financial resources of the company. AB Limited could be benefited from this perspective if it evaluates the performance of itself as a hole. For example, the company measures its profitability on the basis of each equipment, the company could evaluate its measurement and performance of the entire organisation instead of only an equipment.
Customer and stakeholders: this is the perspective which views the performance of the company from the point of view of the customers or other such stakeholders. These are the customers or the stakeholders that the company is designed to serve. For example, the company measures its profitability on the basis of each equipment, the company must think from the view point of the customers and other such stakeholders. This would help it in achieving better results and also would help in improving the business operations.
Internal process: this is the perspective which views the organisation from the lenses of quality and efficiency and is related with the product or the services and other such key processes of the business. The company as of now just evaluates its profitability on the basis of each equipment but under this perspective, it could view its business processes and also undertake few of the management accounting technique that could help in improving the efficiency of the internal processes.
Organisational capacity: this is the perspective which views the organisation from the view point of human capital, infrastructure, technology, culture and other such capacities which breaks through the performance. As of now, the company just provides the data of each division separately, but from this view, the different results from different viewpoints such as the human capital, infrastructure technology, culture and other such capacities would be done which would help in improving the efficiency of the business operations of the company. This in turn would help to be fruitful for the company.

This technique would be helpful since it would help the company in better strategic planning, help in improving the communications of the various strategies and also execute in the various business processes.
Benchmarking is the process wherein the performance of the company is measured as against the performance of another company. The comparison shall be done with the other company which is best in the industry. Such a technique would help in the identifying of the various internal opportunities for the purposes of improvement. By the way of studying in the superior performance of the benchmarked company, the company would be able to improve its business operations and also attain efficiency. One could implement in the changes that would go on to yield some of the major improvements.
AB Limited could select another company which deals in the same products, services in the industry and then it could measure its performance. AB Limited could measure its business operations and efficiency and results and compare it as against another company which is the best in the same industry. This way AB Limited would be able to know and understand the improvements that are required on its behalf to be made and then can act accordingly.
AB Limited could use the financials of another company which is the best in the industry and compare its performance based upon the balance score card of that competitor. This would help AB Limited in understanding the exact efficiency and the business operations of the company. AB Limited would know the improvements that are required and then the management would be able to deicide the decisions that are to be taken. The company would also be able to assess its business operations from the point of view of the customers and the other stakeholders.

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