Balanced Scorecard
Balanced Scorecard
Buffalo Wild Wings has a unique balanced scorecard that is aimed at the overall improvement of the company. There are four categories within the scorecard, and each is designed to target a specific area for improvement. Shareholder value is directed to the financial well-being of our company. Next, customer value, is in connection with consumer experience. Internal processes are designed to ensure the organization is operating as efficiently as possible. Last is learning and growth, which is intended to support employees. When the four categories are combined together they create the strategic plan for Buffalo Wild Wings.
Each strategic plan must be approached with a balanced idealization. All four categories must be equalized. If one category is focused on more heavily than another, it will provoke suffering of another. The balanced scorecard presented below have been proved to be superior over all other possible options. The goal is to devise a strategic plan that will have the largest impact on a four categories. Buffalo Wild Wings has limitless amount of opportunities that will be utilized to ensure the company has the greatest success possible.
All strategies used will come with some degree of risk. Before implementation, it is necessary to evaluate any risk that may reveal itself. By doing evaluations, a risk mitigation plan will be devised to handle any unforeseen circumstances. If the company were to purchase new handheld devices for all employees, they would need to ensure they have the ability to act quickly if these new devices are not improving employee productivity. All strategies will carry some ethical implications as well. Buffalo Wild Wings has always upheld the highest ethical standards, and it is important that they continue to do so in the future. If any unethical decisions are made, it could affect the market share, and create negative views of the company among the consumers.
A communication plan will be used to clearly communicate the company’s strategic objectives. The plan needs to be discussed to anyone who has value within the company. All shareholders and employees will have a verbal communication to ensure maximum understanding. Our consumers will have access to a written copy should they ever request one. In order for us to communicate with all applying party’s multiple communication channels will be utilized. Employees and all managers will have a face to face conversation. Shareholders will have electronic and face to face communications. Broadcast media will be used to reach a maximum amount of consumers at a time. By utilizing all three approaches we will allow the most efficient communication possible.
Buffalo Wild Wings has always had a strong and successful business. The balanced