Balanced Scorecard The Traditional Way Term Paper

Length: 2 pages Sources: 1+ Subject: Business Type: Term Paper Paper: #92667096
Excerpt from Term Paper :



Ultimately, McDonald's will have to drill down into the business processes that influence customer satisfaction and thus, frequency. Is service quick and efficient and are employees appropriately trained (Balanced Scorecard 101)?

McDonald's could measure such elements as the amount of time from order to delivery, the number of employees attending and passing training classes (Balanced Scorecard 101) and employee retention (Wendy's). Most large organizations such as McDonald's have a strategy in place and know the business processes that will help support the strategy. But, it's difficult to bring that strategy down to its front lines so that the processes are executed efficient and effective (Wendy's). The Balanced Scorecard will help McDonald's align its various divisions and restaurants with its strategy.

Competitive benchmarking suggests that McDonald's must move forward with a balanced...

...

One of McDonald's main competitors, Wendy's is already using the Balanced Scorecard to significantly reduce staff turnover and increase customer satisfaction (Wendy's). With new insights gleaned from its Balanced Scorecard project, Wendy's can now go beyond gauging its profitability per restaurant to measuring profitability per customer per hour for each of its 6,043 restaurants in twenty-six countries. In the highly competitive food business, McDonald's must move forward as well.

Bibliography

Balanced Scorecard 101. Retrieved August 17, 2006 from Web site: http://www.exinfm.com/workshop_files/scorecard_101.pdf

Marketing your restaurant: Part I. Retrieved August 17, 2006 from Web site: http://qsrweb.com/article.php?id=90&prc=87&page=68

Wendy's. Retrieved August 17, 2006 from Web site: https://www.bscol.com/education/exec/osm/hof/index.cfm?id=A01AB7DD-4ABF-466F-8F7EEE2DF61793FA

Sources Used in Documents:

Bibliography

Balanced Scorecard 101. Retrieved August 17, 2006 from Web site: http://www.exinfm.com/workshop_files/scorecard_101.pdf

Marketing your restaurant: Part I. Retrieved August 17, 2006 from Web site: http://qsrweb.com/article.php?id=90&prc=87&page=68

Wendy's. Retrieved August 17, 2006 from Web site: https://www.bscol.com/education/exec/osm/hof/index.cfm?id=A01AB7DD-4ABF-466F-8F7EEE2DF61793FA


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