Development of a Draft Balanced Scorecard for Zara

Business & Finance
Cover of the book Development of a Draft Balanced Scorecard for Zara by Marvin Mertens, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Marvin Mertens ISBN: 9783668002128
Publisher: GRIN Verlag Publication: June 26, 2015
Imprint: GRIN Verlag Language: English
Author: Marvin Mertens
ISBN: 9783668002128
Publisher: GRIN Verlag
Publication: June 26, 2015
Imprint: GRIN Verlag
Language: English

Seminar paper from the year 2015 in the subject Business economics - Miscellaneous, grade: 80.00/100.00, University of Strathclyde (Strathclyde Business School), course: Performance Measurement & Management, language: English, abstract: In 2001, CNN euphorically described Zara as 'a Spanish success story' (CNN, 2001). Thirteen years later, Tobias Buck of The Financial Times called the Spanish fashion brand 'one of the most striking corporate success stories of recent years' (Buck, 2014). Having started as a small fashion store in A Coruña, Zara is now the flagship brand of Inditex, the biggest fashion retailer in the world. However, Zara's success is not cast in stone. Simon Irvin of Credit Suisse, criticising Inditex's recently lacklustre financial performance, noted that business models were not likely to remain brilliant forever, and that Zara's parent company were no exception to the rule (Buck, 2014). Having said that, numerous attempts have been made by competitors to copy Zara's successful business model and thereby eliminate the firm's competitive advantage. For instance, C&A purposefully hired away Inditex managers (The Economist, 2012), while Mango outpaced Zara in terms of sales in Spain, Zara's home market, by copying Zara's approach to manufacture the majority of its garments in nearby countries, as well as its product offering (Baigorri, 2013). In light of these developments, it is essential for Zara to measure its performance timely and carefully, and identify ways in which the firm's future performance, against the background of its business model, may be improved. The Balanced Scorecard (BSC) is the right tool to achieve this, as it translates a firm's strategic objectives and competitive demands into a coherent set of performance measures (Kaplan & Norton, 1993a). In particular, the BSC complements financial performance measures, usually reflecting past performance, with operational measures in the areas of customer satisfaction, internal processes, and a firm's innovation and improvement activities, all of which can be said to be drivers of future performance (Kaplan & Norton, 1992).

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Seminar paper from the year 2015 in the subject Business economics - Miscellaneous, grade: 80.00/100.00, University of Strathclyde (Strathclyde Business School), course: Performance Measurement & Management, language: English, abstract: In 2001, CNN euphorically described Zara as 'a Spanish success story' (CNN, 2001). Thirteen years later, Tobias Buck of The Financial Times called the Spanish fashion brand 'one of the most striking corporate success stories of recent years' (Buck, 2014). Having started as a small fashion store in A Coruña, Zara is now the flagship brand of Inditex, the biggest fashion retailer in the world. However, Zara's success is not cast in stone. Simon Irvin of Credit Suisse, criticising Inditex's recently lacklustre financial performance, noted that business models were not likely to remain brilliant forever, and that Zara's parent company were no exception to the rule (Buck, 2014). Having said that, numerous attempts have been made by competitors to copy Zara's successful business model and thereby eliminate the firm's competitive advantage. For instance, C&A purposefully hired away Inditex managers (The Economist, 2012), while Mango outpaced Zara in terms of sales in Spain, Zara's home market, by copying Zara's approach to manufacture the majority of its garments in nearby countries, as well as its product offering (Baigorri, 2013). In light of these developments, it is essential for Zara to measure its performance timely and carefully, and identify ways in which the firm's future performance, against the background of its business model, may be improved. The Balanced Scorecard (BSC) is the right tool to achieve this, as it translates a firm's strategic objectives and competitive demands into a coherent set of performance measures (Kaplan & Norton, 1993a). In particular, the BSC complements financial performance measures, usually reflecting past performance, with operational measures in the areas of customer satisfaction, internal processes, and a firm's innovation and improvement activities, all of which can be said to be drivers of future performance (Kaplan & Norton, 1992).

More books from GRIN Verlag

Cover of the book Neuromarketing. Erkenntnisse, Anwendungsmöglichkeiten und Perspektiven by Marvin Mertens
Cover of the book Humour in the TV series 'Gilmore girls' by Marvin Mertens
Cover of the book Der Faktor Mensch im Prozessmanagement by Marvin Mertens
Cover of the book Der Sozialstaat: Auslaufmodell oder zukunftsfähig? by Marvin Mertens
Cover of the book Grundlagen des Fundrechts by Marvin Mertens
Cover of the book Virtuelle vs. reale soziale Netzwerke. Ein Vergleich by Marvin Mertens
Cover of the book Sexualpädagogik. Theorien, Methoden, Medien by Marvin Mertens
Cover of the book Psychotherapie mit dem Pferd by Marvin Mertens
Cover of the book Auswirkungen von Ausdauersport auf die Psyche vom Läufern by Marvin Mertens
Cover of the book Unterrichtsreihe: Psalm 104- ein Loblied an die Schöpfung (3. Klasse) by Marvin Mertens
Cover of the book Der Tiefstart by Marvin Mertens
Cover of the book Sexueller Kindesmissbrauch. Folgeschäden und Therapiemöglichkeiten by Marvin Mertens
Cover of the book Präsentationen. Kurz. Knackig. Erfolgreich. by Marvin Mertens
Cover of the book Der Gewinn liegt im Einkauf. Welche Vorteile bietet E-Procurement? by Marvin Mertens
Cover of the book Konsonanten und Vokalinventar der Kunama Sprache by Marvin Mertens
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy