Development of a Balanced Scorecard (on the Example of a Specific Company)

The greatest obstacle to the development of the company's competitiveness is an inability to accurately measure and evaluate key aspects of its performance. In the absence of adequate tools for analyzing and monitoring production processes, financial condition or customer experience, a company cannot effectively build a development strategy and make informed management decisions. This study is aimed at developing a balanced scorecard for a specific company by identifying key success metrics and systematically tracking them, which will help the company to obtain an objective evaluation of its current state, identify areas for improvement and identify potential issues. The data is collected on basis of quantitative and qualitative research, including financial performance reports as well as strategy documents; individual interviews conducted by senior managers or by employees; statistical analysis of questionnaires completed by both staff and clients. The results of the study will reveal: a) the most important indicators for assessing efficiency in the field of finance, customer service, internal processes and employee training in the company “X”. b) The “X” company's performance compared to established goals and industry indicators. c) Clear strategic goals that are aligned with the “X” company's mission and vision. Based on the results obtained, a system of measurable indicators will be created that reflect key aspects of the business, the relationship between these indicators will be established for comprehensive analysis, and recommendations will be formulated for businesses to maintain the stable operation of these indicators. Keywords: Strategy, strategic planning process, balanced scorecard, performance metrics, process approach, strategy map, finance, customers, internal business processes, training and development.