Design a balanced scorecard and linked strategy map and evaluate the Essay

designing a balanced identity card and linked strategy map and evaluate the techniques used - Essay precedentThornton Chocolate conjunction has been going through a rough phase, as the caller-up has to deal with true losses. In this scenario development of balanced scorecard and strategic map for guidance become necessary for the company. A comprehensive discussion on balanced scorecard and the key performance indicators, targets, and objectives of the company are similarly ascertained to develop a strategic map for the company. The strategic map will put before the strategies by which Thorntons Chocolate Company can withdraw up sales, minimise cost and increase their market place share in the industry. The balanced scorecard has identified the unfavourable effect of performance indicators and stated strategies to pull up companys performance. Table of Contents Executive Summary 2 Introduction 4 Vision and committee of Thorntons Chocolate Company 5 Strategic Direction 5 Ba lanced bill of fare 7 Balanced Scorecard and Thornton Chocolate Company 9 Strategic Map 12 Recommendations 13 References 15 Appendices 16 Appendix 1 16 Appendix 2 16 Appendix 3 18 Appendix 4 19 Appendix 5 20 Introduction Thorntons Chocolate Company was established in the year 1911, in Derbyshire, UK. The company was established by Joseph William Thornton and after the youthful takeover of Cadbury it became the largest independent confectionary and hot chocolate company. Thorntons Chocolate Company has more than 360 cafes and shops and apart from this, it also owns 230 franchises that offer commercial, internet and berth order services. The revenue of the company decreased to ?217,144 million in 2012, which was ?218,255 million in 2011. This reveals a gloam in revenue by 0.51percent and the company is also running at a loss since one-time(prenominal) few years. Thorntons Chocolate Company is listed on the London Stock Exchange and it has more than 4200 employees. Presently the company holds around 7.9 percent of market share in the chocolate industry of UK, which the management expects would increase in the coming years (Jennings, 2005). Reasons like dull marketing, dismal display, or unappealing packaging are creation put forward for escalating earn warnings for Thorntons Chocolate Company. The company however, blames it on the climatic condition and snow. Britains largest chocolate company has revealed a decrease of 23 percent in chocolate sales in the recent times. The franchises and shops are struggling hard to sell their products in the market. Even the share prices have fallen by 30 percent in the last 1 year, which is also posing as a profit warning for the company. Thorntons Chocolate Company was one of the best selling brands on High street, but the future day projections do not reveal the same picture (Jennings, 2005). This study aims to develop a balanced scorecard for Thorntons Chocolate Company and link it to a strategic map. Keeping in m ind the recent deviate of events and financial amaze of the company, the balanced score card would be developed and strategic map would be prepared, so that the management of the company can identify ways of reviving the companys position and pull it up to the place that Thorntons Chocolate Company had, as one of the largest Chocolate makers (Haberberg, 2008). Vision and Mission of Thorntons Chocolate Company Thorntons Chocolate Company enjoy a 100 years of heritage of treating its customers with palatable confectionaries and chocolate. The vision of the company is