Morrisons PLC in the UK, Morrisons PLC Essay

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Morrisons PLC

In the UK, Morrisons PLC is one of the largest grocery store chains with the company serving over nine million customers at their 400 retail stores. At the heart of the firm's strategy, is to deliver quality products at affordable prices. For over 100 years, this has helped the company to be able to reach out to a large demographic of consumers. However, globalization has been leading to increased amounts of competition in many markets. This has been causing the firm to face greater pressures in adjusting with these new challenges. To overcome these issues requires utilizing the balanced scorecard to analyze the strengths and weaknesses of the company. This will be accomplished by focusing on: the different measures, how they are interconnected, which ones are leading / lagging indicators, how this can help in managing risk and what other control system could be implemented. Together, these different areas will identify specific tools that the firm can use in adjusting with a host of challenges. (Morrisons 2012)

For each measure explain and justify why you have included a particular item. That is how it helps achieve the objective, consider actions that could be taken to achieve these indicators, (activities and tasks)

Under the balance scorecard, there is a focus on four different measures that are utilized to include: financial, customer, the internal business process and growth / learning. The basic approach is to use specific measures to reach predetermined targets for each category. This helps the firm to determine where quality improvement is taking place and deciding precise goals. In the case of financial measures, there is a focus on those tools that can help the firm to increase shareholder value. This was included because it will identify specific financial related areas that need to be focused on. The customer is when there is an emphasis on how the firm is seen by clients (i.e.

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brand image). The reason why this was selected is from the ability to analyze changes in the customers' tastes, trends and their views of the firm. The internal business process takes place when the company is concentrating on those areas where they can excel. This was chosen, because it will provide executives with specific internal areas to improve upon. Learning / growth is based upon the firm concentrating on how they can improve quality and increase value. This was selected because it is determining how the firm can enhance the products and services it is providing. The combination of these factors will give executives clear objectives for the firm and how they can adapt to them. (Performance, Planning and Decision Making 2012)

How do these measures link across the various business functions and activities within the organization?

These measures are interconnected by linking specific financial, operational, customer and transformation related issues together. When this happens executives can be able to understand the challenges facing the organization and how to effectively adapt to them. In the future, this all allow Morrisons PLC to maintain their dominance in core markets. (Performance, Planning and Decision Making 2012) (Balanced Score Card Part II 2012)

Indicate which strategic measures are leading and which are lagging indicators (make sure that you consider financial and non-financial measures)

The lagging strategic related measures include: financial and customer. The reason why all of these areas are considered to lagging is because they are providing everyone with some kind of indication about: changes in the economy, demand from customers and other areas (after the fact). This can be used to help executives to quickly identify potential challenges and make any kind of adjustments. Moreover, these….....

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