Business Strategy Tool: Balanced Scorecard

Business Strategy Tool: Balanced Scorecard essay homework: The 6th module readings provide some indications of where strategy implementation is monitored and how. First, firms are governed by their boards, who serve as resources to firm management, and ultimately have the power to fire, hire, and set compensation for top management teams. Second, you should begin to see that successfully implementing strategy means getting the firm’s resources and capabilities aligned with its strategic objectives.

The Balanced Scorecard (BSC) is a powerful tool for combining the financial objectives of a firm with its strategic objectives, as well as aligning strategic objectives into 3 of the 4 dimensions of competitive advantage – customer (responsiveness), internal business processes (efficiency), and learning and growth (innovation).

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Is some version of the BSC used at tesla (company you are researching)? What could be some barriers to adopting a BSC approach to strategy implementation? How could the board of Tesla organization be leveraged during implementation? Format: single spaced MLA or APA format



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