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DMBA 620 9044 Effective Financial and Operational Decision Making

Required Reading:
http://www.netmba.com/accounting/mgmt/balanced-scorecard/
http://www.quickmba.com/accounting/mgmt/balanced-scorecard/
This Power Point presentation also explains the balanced scorecard
Read the lecture material "Required Information on Metrics" posted in this week's module.
Assignment (6%): Part I. Create Balanced Scorecard

1. Build a Balanced Scorecard for the unit of the organization for which you work, or have worked. Unless you are in senior
management, focus on the unit with which you are most familiar rather than the organization as a whole. Identify the
strategic objectives of the entire organization and the secondary objectives for the unit. Develop three specific objectives
within each of the four perspectives for the unit. Each objective should have at least one quantified target metric associated
with it.
It is essential to understand what metrics are. Be sure to study the lecture material on "More Information on metrics" In this
assignment, the specific information needed to calculate each metric should be explained. For each metric state the
appropriate target value and the actions that need to be taken to achieve the target. The paper should be no more than 15
pages, including the reference list, and be formatted in accordance with the APA guidelines as modified for the MBA program
(http://info.umuc.edu/mba/public/MBA-apa.html). Please format your paper in Microsoft Word as a XXX.doc or XXX.rtf file,
and place the paper in your assignment folder.
Metrics
Develop three specific objectives within each of the four perspectives for the unit. Each objective should have at least one
quantified target metric associated with it. So your table should contain 4 perspectives, each with 3 specific objectives, and a
target value of the metric for each objective.



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14-06-22 | 23:26:26
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Financial service firms have enjoyed great success but still face some hurdles in their efforts
calibrates the development strategies for fundamental values in their frameworks of
measurement. The harmonization of lag from historical information first is necessary to avoid
overreliance of past data. Implementation of strategic objectives is also important in
accomplishing diversification to achieve company mission (Creelman & Makhijani, 2013). The
Balanced Scorecard is capable of providing a solution on the fronts above. By providing an
evaluation on a myriad of perspective it provides a wider reach. The framework provides
traditional financial measures to evaluate performance but due to the implied lag it also evaluates
future value of the company in terms of users, providers and employees. Current prospects are
also incorporated in the framework. Additionally, the scorecard measures vital importance
concerning the maintenance of security of the infrastructure, since it has substantive impact on
proper operation and competitiveness.
Keywords: Bank of America, quality, performance measurement, Balanced Scorecard
INTRODUCTION
There is evidence that a balanced scorecard ensures an appropriate management tool in
performance evaluation and creates a perfect balance between various aspects of the business.
The entity under study is Bank of America Corporation. Its business model is segmented in
multiple division for simplicity in operation. Core activities are in consumer banking with a top
evaluation in the country. Bank of America operation is based on global investment and wealth
management in global market. The strategic goal is to provide the highest level of retail and
corporate banking experience. Besides that, more efficient division in various specters of the

3

BALANCED SCORECARD PERFORMANCE MEASUREMENT
business model has helped accomplish the achievement of broadening the revenue mix to
enhance consistency and growth parameters.
Performance evaluation
The financial institution has a cause and effect connection in strategy map to ensure the
institution is always efficient in offering services. In this case, the evaluation is based on a
financial service industry. Therefore, this study will benchmark the metrics based on the criteria
described below


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