1. What benefits has BIOCO realized from its use of balanced scorecards?
A balanced scorecard has four perspectives, Customer perspective, internal business perspective, Innovation and learning perspective, and financial perspectives. By using balanced scorecards, BIOCO knows what the customers needed is. It helps BIOCO to fulfill customers’ need better. For internal business perspective part, BIOCO can clear the corporate vision and strategy. BIOCO can adjust the strategy according to the pervious balanced scorecards. Also the balanced scorecards link everyone in the company and enhance the communications between each other. Meanwhile, Scorecards detailed the company’s business goals to everyone and guide every …show more content…
4. BIOCO recently was sold and now has a new CEO. Do you think the BIOCO way will be as successful under the new CEO? Why or why not?
I don't think the BIOCO way will be successful under the new CEO. Setting up the business goals, translating it for different department and adjusting strategic initiatives according to the performance in different time requires a professional CEO who are good at balanced scorecards method. According to the case article, the pervious CEO is a strong champion of the balanced scorecards and is considered an in-house guru for the method. So BIOCO approach is working well. But for the new CEO, first of all, the CEO must like this method and want