A balanced scorecard enhances an organization's strategy with focus and purpose (Chow, 1997). When Kaplan and Norton developed the Balanced Scorecard method, they focused on finding a way to identify the organization's indicators for strong future performance (Chow, 1997). Things like past accounting or previously successful product development approaches will not help predict future market trends or say much about what actually helped grow an organization's market share (Chow, 1997). The Balanced Scorecard approach leverages the idea that useful information can be identified when historically unambiguous and objective goals are combined with some nonfinancial signals (Kaplan & Norton, 1996). Managers created a Balanced Scorecard when they “integrated traditional financial measures with nonfinancial measures (Kaplan & Norton, 1996). The integration of financial and nonfinancial measures creates the best picture of what to expect from an organization moving forward, but these two indicators are often difficult to describe (Chow, 1997). Financial measures are historical, composed of dollar and cent values, and have limited possibilities for navigating the future (Kaplan & Norton, 1996). For example, Blu has identified targets for financial metrics associated with station construction costs. Although these construction goals were achieved, evolving technological measures combined with unexpected labor costs jeopardized the financial success of each station. As a result, the station's future construction goals had to undergo thorough evaluations, and initial success in achieving the goals was tempered. The Balanced Scorecard approach addresses strategy gaps by linking financial and non-financial factors to the organization. paper...the next six months (Arave, 2014). As a financial goal, stations must operate with positive cash flow. The metrics used for these standards are reviewed in monthly company meetings. One recommendation for Blu is that monthly reviews should be reviewed on a weekly basis until financial goals are met. Future initiatives should focus on creating undeniable customer value that will result in an overall increase in LNG product sales at current locations. Blue scores low on the Balanced Scorecard for his financial goals, two out of five. The organization has missed financial targets at every strategic review and that is why the organization receives a low score in its financial outlook. Although Blu missed many of its financial goals, the organization is still in business, so it should receive a score better than zero or one.
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