This paper is a study of the various perspectives that are presented in a balanced scorecard for companies and determine the effectiveness in their capacity to help organizations improve and better their performances. To realize this, Wal-Mart Company will be used as a case study company to see how balanced scorecard can be used for this purpose mentioned afore.
The main characteristic of a balanced scorecard is the way it presents a mixture of non-financial and also financial measures that are individually compared to some set target value that is entrenched within a concise report. This report by any standard does not replace the traditional operational or financial reports that are issued by companies periodically but it is meant to be a succinct summary of what is only relevant for the group that it is written for (Papalexandris, Ioannou, & Prastacos, 2004, p.28).
Wal-Mart Stores Inc.
For a better discussion of the balanced scorecard and how it works, the case
of Wal-Mart is used being a successful company that has been in operation for long. Wal-Mart Stores Inc., is perhaps the greatest and most influential single retailer in the world. What makes it more bizarre and overt is the innumerable controversies it has found itself entangled in as regards lawsuits filed against it, media frenzy against some of its policies, government agencies questioning some of its polices among other controversies (Vance & Scott, 994).
A company that began out of the novelty of two brothers (Sam Walton and his brother) in 945 when they opened Franchise Ben Franklin variety stores, the company shot to fame and business prominence almost instantly. Its records speak volumes for the companys dominance and business acumen (Sandra & Scott, 994).
The company currently operates over 4 50 retail facilities globally being the dominant retailer in Canada, the UK and Mexico (Sandra & Scott, 994). The following are the things that the company deals in: