Corporate Strategy Using Balanced Scorecard - Myassignmenthelp.Com

Question: Discuss about the Corporate Strategy Using Balanced Scorecard. Answer: Organisation capacity Wave Master Ltd (WML) is an Australian company that came into the existence in the year 2001 and it was founded by the Mr. Bobster. The company deals in producing wetsuit and surfboards that is made up of using environmentally friendly materials. The company has the ability and capacity to bring improvement. For Organisational capacity, sustainability refers to as creating a culture that values sustainability, reflected in the selections that employees make every day (Rohm and Montgomery, 2000). Improve sustainable culture The improvement in the sustainable culture is required in WML. To improve the sustainable culture the company should bring the positive environment. To improve the sustainable culture the company should educate and engage the employees towards the green teams, social media, volunteerism, and awards along with the incentives. The top leaders and management of the company together vision the goals and strategies that help in improving the sustainable culture (Huang, Pepper, and Bowrey, 2014). To improve the culture the company should encourage and should focus on the sustainable products with open participation and engagement of employee. This improved culture enhances the efficiency of the company (Rohm and Montgomery, 2000). Maintain Workplace standard at out-sourced factory The company is currently involved in outsourcing the wetsuits production to a company who is operating a business in Greater Dhaka Area which is situated in Bangladesh. The name from where WML outsource the products is Hasan Fashion. Furthermore, the WHL Company wants to perform the deal with China to outsource the products. The company knows that in China the company will find the better quality of bamboo and the production cost will be low. At this entire outsourced factory, the company should maintain the workplace standards. These standards include the health and safety of employees who are working in an industry. The history of Bangladesh people in health and safety is bad (Unicef.org, 2017). The company should make sure that they make use of proper safety measures and also provide compensation for health issues. Most of the workers are women in a factory and they are hired on fewer wages, the working hours are long for them, they also find the harassment issues. The WML Company should form policies in which they commit to providing the minimum wages and other facilities. The company should make use of the balanced scorecard with the help of which the company can improve the sustainability (Epstein, M.J., and Winser, P.S., 2001). Ensure and improve employees satisfaction The facilities and compensation will help the company in satisfying employees. The company should provide the health and safety facility and compensation along with that the company should offer the minimum wage to the womens at a factory. The company should also provide the bonus and incentive facility that is going to motivate the employees of WML and leads to the employees satisfaction. The company should make the strict policies and plans for the harassment so the female workers safely work in the company with the help of the balanced scorecard. If a company will find an employee who will not follow policies then the company should ask the person to leave. Ensure and improve employees health and safety WML Company ensures and improves the employee's health and safety as the report shows that there are 200 workers who are employed in a factory. The employees have the chances of having health problems. To improve the health condition and to reduce hazards the company is implementing the safety programs. The company should manage and monitor OHS risks according to the law. The health measures are included in the learning and growth perspective which is one of the elements of the balanced scorecard. Sustainable development is one of the activities that receive sustainable organizational lip service but it is one of the important contributors to competitive advantage either in times of the financial health (Butler, Henderson, Raiborn, 2011). References Rohm, H. and Montgomery, D., 2000, Link Sustainability to Corporate Strategy Using the Balanced Scorecard, Regency Parkway, Suite 425, Cary, North Carolina 27518 USA Butler, J.B., Henderson, S.C., Raiborn, C., 2011, Sustainability and the Balanced Scorecard: Integrating Green Measures into Business Reporting, Management Accounting Quarterly, 12(2), Epstein, M.J., and Winser, P.S., 2001, Using a Balanced Scorecard to Implement Sustainability, John Wiley Sons, Inc. Huang, T., Pepper, M. and Bowrey, G., 2014, Implementing a Sustainability Balanced Scorecard to Contribute to the Process of Organisational Legitimacy Assessment, Australasian Accounting, Business and Finance Journal, 8(2), 2014, 15-34. Unicef.org., 2017,Women and girls in Bangladeseh. Viewed on 2nd January 2017, https://www.unicef.org/bangladesh/Women_and_girls_in_Bangladesh.pdf