Mgt 521 Balance Score Module

McDonald’s Balance ScorecardName:Institutional affiliationMcDonald’s Balance ScorecardIntroduction A balance scorecard is a tool that managers use to measure the holistic performance of the business. Unlike many alternative performance measurement approaches, balance scorecard look at more than the financial health. It also considers the degree of customer satisfaction, the internal processes and the innovation or and the people. This document reviews the performance of the McDonald’s Just-In-Time operating system and compares it to performance of a similar business and a business from a different industry. Balance scorecard analysisFinancial performanceThe first responsibility of the management is to its shareholders. Investors demand a return of their investment into the company. However, despite the ballooning prices of ingredients, the company managed net profit of about 16% from 2.5% the previous year. This has been attributed to lower cost, proper inventory management and low wastage brought about by the introduction of a more efficient kitchen system. Internal processesAfter realizing that congestion at the restaurant during peak hours as driving away customers, in 2011, McDonald revamped its kitchen with the aim of reducing time used to serve one customer. Previous strategies employed