Case Study BIBCOCK
BIBCOCK can adjust the strategy according to the previous 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 employee to work for the business goals. It will help company to meet customers’ expectations. Also balanced scorecard help BIBCOCK find its disadvantage and find a way to solve the problem.
By helping meeting the customer expectations and improve the company Itself, BIBCOCK can achieve a better financial principle.
All of these are the benefits for BIBCOCK from using the balanced scorecards. 2. Do you think the BIBCOCK way was useful In helping the IT department align Its goals with that of the company? Why or why not? In BIBCOCK way, the company’s vision and strategy are translated into a long-term corporate strategic plan, which in turn is used to generate the corporate strategy map. I think it help the IT department align its goals with it. In order to measure the progress of the BIBCOCK way, company need to use the cascade of balanced for every department of the company.
And it emphasizes how the strategies and relate tactics should be carried out and measured at all levels. So for IT department, first of all, it helps IT department clear their missions – fulfill the company’s demand for the whole business plan. The internal business perspective gives a good measurement of performance for IT department. And help IT to learn and explorer the way to supply a better solution for company’s demand. Also It help IT realized the financial things for their projects.
Balanced scorecard can also solve the communication problem.
This problem Is Important for IT department since how to balance the company demand and IT supply is the hard thing for both company and IT. Good communication can help company to find the solutions. The BIBCOCK way helps senior IT managers understand their organization’s performance and measure it in a way that support company strategy. Because IT scorecard is linked to the corporate scorecard and ensures that the measures used by IT are supporting the corporate goals, the BIBCOCK way helps promote alignment and eliminate projects with potential issues and impacts. .
Do you think that the BIBCOCK approach could be implemented successfully in large companies? Why or why not? If so, what, if any, adjustments need to be made? I don’t think BIBCOCK approach could be implemented successfully In large companies. BIBCOCK Is a growing medium-sized company. So the cascade of balanced scorecards for every Dillon/department could work perfectly. Since the company Is on the way to grow, their business strategy Is simply and easy to translate to their department and employee.
Also it is easy to measure the performance according to ten Tour perspectives AT Dalliance scorecards. But Tort ten large companies, the complex organizational structure and large amount employee, locations will cost company big amount resource to achieve this BIBCOCK approach.
So if large companies want to use this approach, they need to simplify the cascade of balanced scorecards to the linked core department. Each department need to do their balanced scorecards according to their performance and company’s business strategy. During this process, company need to train every senior manager.
The CEO of company should set up the business goal for the company, in addition to that, CEO should also set up the bottom line for each department and help different department to communicate. Due to the complex organizational structure, company deed to increase the frequency of reviewing, adjusting, removing strategic initiatives from the metrics in the scorecards.
By using the professional senior manager and continually change the short-term strategic initiatives in limited amount core department, BIBCOCK approach may works for the large companies. 4.
BIBCOCK recently was sold and now has a new CEO. Do you think the BIBCOCK way will be as successful under the new CEO? Why or why not? I don’t think the BIBCOCK way will be successful under the new CEO. Setting up the business goals, translating it for different apartment 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 previous CEO is a strong champion of the balanced scorecards and is considered an in-house guru for the method.
So BIBCOCK approach is working well. But for the new CEO, first of all, the CEO must like this method and want to use this method to manage the company. If not, there is no way the BIBCOCK way can success under the new CEO. Then, the new CEO should know how to implement balanced scorecards method.
He need know how to translate the company strategy into department strategy for different department, monitor the whole process and revise if it is needed.
Also the CEO needs to ease the communication problem between departments. All of these require a CEO with specific ability to finish them. It is difficult to find a proper person who is qualified to do them. If the new CEO implements some new method, the company may operate well. But the new CEO wants to continue this specific, unique way with a strong individual characteristic to manage the company.
I don’t think it will work well.