Essays on The Performance Measurement of Morrison Supermarket Implementing Balanced Scorecard Report

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The paper “ The Performance Measurement of Morrison Supermarket Implementing Balanced Scorecard” is an intriguing example of the report on finance & accounting. This report is based on the analysis of the scorecard of Morrison supermarket. It is based on the examination of performance measurement which tends to be more elaborative than a performance management system (Atkinson and Banker, 2001). The examination of performance measurement of Morrison Company is done on four key areas such as financial orientation, financial constrained but on improvement basis, balanced and rotational basis. The result of this analysis is gained by the use of financial statements which is able to provide performance indicators and strategies used (Bailey and McIntyre, 2005).

The balanced scorecard which is currently being used is an integrated framework that is used to help the business organization achieve its visions. It uses both the financial information and the business operations to produce more accurate performance evaluation. It is therefore a strategic management system that evaluates company strategies, visions, and general performance (Macintosh, 1998). In this performance measurement, the business organization develops and creates performance indices on the performance perspectives, the overall overview of the organization, and its strategy and vision which must be matched together to meet the expected goals (Dyson, 2007).

For the best result to be achieved, it is an effective way to balance the company performance, enquire for the company goals, financial and nonfinancial measurable then balance internal and external perspectives. 1.1 Company ProfileMorrison is a company that was formed in Britain and is one of the largest retail businesses in the UK offering varieties of food products (Otley & Fakiolas, 2000).

It has a number of stores in more than 12 countries and sells more than 4000 different food products in a single store. This company started as a simple grocery business but currently, it sells stationeries, clothing, cosmetics, and kitchen utensils. This company faces high competition from companies like Tesco, ASDA, and Wall Matt and therefore it has to use different competitive strategies such as differentiation and low cost to remain relevant in the market for long.

Bibliography

Atkinson, A and Banker, R. 2001. Management Accounting, 3rd edition, Upper Saddle River, New Jersey.

Bailey, C. and McIntyre, E.2005. Some Evidence on the Nature of Relearning Curves, in: The Accounting Review, Volume 67, 1992, pp. 368-378.

Dyson J R. 2007. Accounting for Non-Accounting Students. Financial Times/Prentice Hall. ISBN: 9780273709220

Dodge, R. 2007. Foundations of Business Accounting, Cengage Learning EMEA, 2nd Edition, P. 357

Mick, B. and John, C. 2003. Managing Financial Resources .A Butterworth-Heinemann; 2003, 3rd edition ISBN: 0750657553.

Macintosh, N. 1998. Management accounting in Europe: a view from Canada. Management Accounting Research, 9, 495-500.

Morrison.com 2013. Financial report for the year ending 2013.Annual financial report

Otley, D.& Fakiolas, A. 2000. Reliance on accounting performance measures: dead end or new beginning? Accounting, Organizations and Society, 25, 497-510.

Roslender, R. & Hart, S.J. 2003. In search of strategic management accounting: theoretical and field study perspectives. Management Accounting Research, 14, 255-279.

Rao, M. 2011. Financial Statement Analysis and Reporting, PHI Learning Pvt. Ltd, P. 268

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