Create a Balanced Scorecard and Strategy Map for the company (TESCO) Essay - 1

Create a equilibrised Scorecard and Strategy Map for the company (TESCO) - endeavor ExampleStrategy map has been prepared on the basis of analysis done while preparing the equilibrium scorecard. The strategy map is drawn in order to show how strategic objectives identified through sense of counterweight scorecard and KPIs will work together in helping Tesco Plc achieve its business objectives. In the net part, on the basis of analysis done in the report, suitable recommendations are given to enable Tesco to correct business act in a comprehensive manner.For last 20 years, interest in public presentation measurement and management (PMM) has increased among scholars and companies at an exponential rate (Valmohammadi and Servati, 2011). In such context, Kaplan and Norton (1996) proposed the concept of Balance Scorecard (BSC) in order to cast a instruction execution management framework, which plenty measure performance of all important business activities. Haapasalo, Ingalsu o and Lenkkeri (2006) stated that companies use the balance scorecard in order to formulate strategy map, which in turn provides direction to strategic initiatives. It is evident from the theoretical argument that companies use balance scorecard and strategic map as composite unit in order to control performance outcome and shape business strategies. In similar context, balanced scorecard and strategy map can be applied to Tesco in order to understand dimensions of their business strategies. Before going further into the master(prenominal) discussion, the study will discuss business operations of Tesco Plc so as to develop a operative background.Tesco Plc is a renowned British multinational general merchandise and grocery seller, which has established more than 6000 retail stores across the globe (Tesco Plc, 2014). In UK, Tesco Plc is regarded as the largest retail chain, while worth of the brand is above 2.6 cardinal (Tesco Plc, 2014). The company was established in 1919 and is headquartered at Cheshunt, Hertfordshire, England (Tesco Plc,