Financial Decision Making Assignment

Financial Decision Making Assignment
For many years, Tesco (https://www.tescoplc.com/investors/) used a balanced scorecard called the Steering Wheel to measure and manage the performance of the organisation. However, in 2013 Tesco reported a 23.5% fall in half-year profits: http://www.bbc.co.uk/news/business-24361465 Subsequently, Tesco has stopped using the Steering Wheel and now uses a “Big 6 KPIs” strategy.
Discuss why Tesco may have switched their approach away from using the balanced scorecard to measure and manage its overall performance, and how the new strategy may be utilised or improved to enhance future business performance. Write in report format and any supporting diagrams or tables should be placed in the appendix.
Relevant research material and references should be applied to underpin your analysis. Financial Decision Making Assignment

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Presentation

1. Ensure you provide a full answer
2. Demonstrate understanding of the module
3. Demonstrate wider reading
4. Application of learning Research

The balanced scorecard/steering well, discuss the technique and consider the following:

• what are the advantages and disadvantages
• how widespread is it used/effectiveness?
• Be critical in your evaluation of the use of the balanced scorecard
• Research Tesco’s use of the technique and its effectiveness
• Research key performance indicators (as this is what Tesco now focus on) and the merits of using these performance measures.
• Research why they stopped using this tool And, please, make sure you answer the specific question being asked: “Discuss why Tesco may have switched their approach away from using the balanced scorecard to measure and manage its overall performance, and how the new strategy may be utilized or improved to enhance future business performance.”

Financial Decision Making Assignment
 

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