Premium Essay

Balanced Scorecard: Unum Case Study

In: Business and Management

Submitted By Sikulate12
Words 931
Pages 4
Balanced scorecard is an analysis technique designed to translate an organization's mission statement and overall business strategy. An organization can use the balance scorecard analysis to track progress and manage the implementation of their strategies. The scorecard measures an organization’s performance from four perspectives: (1) financial, the profits and value created for shareholders; (2) customer, the success of the company in its target market; (3) internal business processes, the internal operations that create value for customers; (4) learning and growth, the people and system capabilities that support operations. A company’s strategy influences the measures it uses to track performance in each of these perspectives (Horngren, Datar, & Rajan, 2012, p. 470). UNUM’s success with its balanced scorecard has been the result of getting a number of fundamental things right (Building and Implementing a Balanced Scorecard, Case Study: UNUM Corporation, 1999, p. 13).
Vision and Strategy, the vision is the future and the gap between now and the future leads to a plan of action to achieve the vision. How we get to the future involves strategies. UNUM’s strategic goals and measures are to support a clearly defined and meaningful corporate vision (Building and Implementing a Balanced Scorecard, Case Study: UNUM Corporation, 1999, p. 2). Each perspective in UNUM has a vision, quantitative measure and goal. What makes the UNUM scorecard particularly powerful is the strategic implementation framework; the scorecard aims to focus the organization onto time-sensitive achievements. UNUM’s corporate vision is, ‘We will achieve leadership in our businesses.’ The corporation has a specific vision for each of its four scorecard perspectives (Building and Implementing a Balanced Scorecard, Case Study: UNUM Corporation, 1999, pp. 2-3).
Financial Perspective evaluates the

Similar Documents

Premium Essay

Environmental Analysis

...VIEW Strategic Human Resource Management Taken from: Strategic Human Resource Management, Second Edition by Charles R. Greer Copyright © 2001, 1995 by Prentice-Hall, Inc. A Pearson Education Company Upper Saddle River, New Jersey 07458 Compilation Copyright © 2003 by Pearson Custom Publishing All rights reserved. This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the individual selections herein that first appeared elsewhere. ii Permission to reprint these has been obtained by Pearson Custom Publishing for this edition only. Further reproduction by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, must be arranged with the individual copyright holders noted. This special edition published in cooperation with Pearson Custom Publishing. Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Please visit our web site at www.pearsoncustom.com ISBN 0–536–72690–6 BA 996748 PEARSON CUSTOM PUBLISHING 75 Arlington Street, Suite 300 Boston, MA 02116 A Pearson Education Company iii iv Table of Contents SECTION ONE ................................................................. 1 An Investment Perspective and Human Resources .... 2 HUMAN RESOURCE INVESTMENT CONSIDERATIONS ...6 INVESTMENTS IN TRAINING AND DEVELOPMENT ..... 14 INVESTMENT PRACTICES FOR IMPROVED RETENTION ..................

Words: 132738 - Pages: 531