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MBA 524 MBA524 MBA/524 Week 4 Group Assignment – Magic Corporation and the Balanced Scorecard

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MBA 524 MBA524 MBA/524 Week 4 Group Assignment – Magic Corporation and the Balanced Scorecard

Magic Technology set an aggressive goal to transform its business with the implementation of a balanced scorecard within one year. A balanced scorecard is used by businesses across the world to gain more control of their overall strategy, define clear action plans, and monitor their performance against these goals.

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MBA 524 MBA524 MBA/524 Week 4 Group Assignment – Magic Corporation and the Balanced Scorecard

Magic Technology set an aggressive goal to transform its business with the implementation of a balanced scorecard within one year. A balanced scorecard is used by businesses across the world to gain more control of their overall strategy, define clear action plans, and monitor their performance against these goals.
Business strategy within the balanced scorecard approach is typically developed from various perspectives that include, financial, customer, internal processes, and learning and growth (Marr, 2019).
Lo, Magic’s chief executive officer (CEO), wanted to address challenges encountered by the technology company when they began to expand outside of their headquarters (HQ) in Taipei, which included the opening of three offshore locations in China.
Lo anticipated that the balanced scorecard process would allowthe company to better define strategies, streamline execution, and refine their existing monitoringprocess which includes key performance indicators (KPIs) to better inform future business decisions.
Unfortunately, Magic’s original rollout of the balanced scorecard at their headquarters was not entirely successful and they now face the dilemma of engaging the departments in the process.
The following analysis will address why Magic saw value in implementing a balanced scorecard, what they can do to address execution issues at their headquarters and subsequent rollout to the departments, and why product analysis may have been strategically addressed during the program rollout.
The main reasons Magic looked to implement the balanced scorecard was to improve the quality of their factories, strategically enter new markets, improve their strategic long-term company plan and to make sure those strategies could be measured for success.
“Magic focused on passive components with the main revenue coming from inductors, which had intense competition in the region” (O’Connor, 2012). Lo, would need a way to stand out above the competition in order to stay profitable, and by using the balanced scorecard it would allow Magic

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