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Business Simulation Seminar

Business Simulation Seminar

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Business Simulation Seminar

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  1. Business Simulation Seminar Evaluating a Business The Balanced Scorecard

  2. Evaluating a Business • Difficult to find one number to evaluate how well management is doing • For example • Stock price may go up but machinery is obsolete • Profits may be good but employees are leaving and you have stock-outs

  3. Evaluating a Business • Each measure trades off with others • What you measure is what you get • If you emphasize only one metric, others will suffer • E.g. If emphasize profits only, then may get no new investments or maintenance

  4. Balanced Scorecard • Answers four questions 1. How do our customers see us? (customer perspective) 2. What must we excel at? (internal business perspective) 3. Can we continue to improve and create value? (innovation and learning perspective) 4. How do we look to shareholders? (financial perspective)

  5. Balanced Scorecard • For each round • Measures are defined in each of the four areas • Results are totaled for an overall score • At the conclusion of all rounds (recap) • Summary measures are defined for each area • Results are totaled for overall score

  6. Balanced Scorecard • To see scoring details • Go to Industry Scoring -> Balanced scorecard • Click on a round score • Click on the specific measure • E.g. Stock price • Will show how score is determined

  7. Customer Perspective Concerns • Quality • Time • Performance • Service

  8. Customer Perspective Measures

  9. Internal Business Perspective

  10. Financial Perspective

  11. Innovation and Learning Perspective

  12. Recap Scoring • Evaluation at the end of the simulation • Looks at factors that may fluctuate during the rounds • Looks at same four areas 1. customer perspective 2. internal business perspective 3. innovation and learning perspective 4. financial perspective

  13. Customer Perspective Measures

  14. Internal Business Perspective

  15. Financial Perspective

  16. Innovation and Learning Perspective

  17. Balanced Scorecard • Score for entire simulation is sum of round and recap scores • Available in Capsim • Under Reports • Will also be used for final exam