The Balanced Scorecard is an evaluation and communication tool that translates

organizational goals into actionable initiatives. For Dragon Pearl, the four aspects of the
balanced scorecard (I.e. finance, customer, internal process, and knowledge and growth
is contemplated.

OBJECTIVES GOALS INDICATORS INITIATIVES

FINANCIAL To achieve long- Counteract Financial Negotiate with
term financial inflation rate Statements supplier;
stability. by increasing minimize
prices. inventory
CUSTOMER Provide affordable Maintain the Financial Bargain with
products. profit margin Statements suppliers
while still
providing the
products in the
most
affordable
prices.
INTERNAL Provide Keep the Customer Eliminate all
PROCESS consistently quality prices of the Satisfaction unnecessary
products at product surveys, Online costs in
reasonable prices. relatively lower Reviews production and
than service
competitors provision.
but keep
quality at par.
KNOWLEDGE To continually Come up with Customer Have a
AND provide novel creative promo Reviews personnel
GROWTH products that bundles every assigned in
answer changing month. creative
customer wants. product
promotion.
Table. Illustrates the Balanced Scorecard for Dragon Pearl.

The establishment of this scorecard does not only define the goals of the
organization but also simplify them to be understood in the functional level. Financially,
Dragon Pearl aims to be stable on a long-term basis and one the increase in the overall
prices of goods is also posing a problem to the business. Dragon Pearl could monitor
changes in the financial aspect through its financial statements so that the owner may
know if they should cut inventory and/or bargain with their supplier to counteract the
increase in prices.
In terms of customer service, Dragon Pearl prides itself for its affordability, though
the onset of the inflation proved to be a challenge in maintaining the business’ profit
margin. This aspect could also be monitored using financial statements and the most
effective initiative is to bargain with the business’ suppliers.
It is one thing to provide products at lower costs but it is another thing to provide
products at lower costs and preserve their quality. For this aspect, Dragon Pearl needs
to be aware of customer reviews, not just for their business but for their competitors as
well. They need to sell their product at a cost lower than competitors but keep the quality
at par and this could be achieved by eliminating all unnecessary costs in production and
service provision.
Knowledge and growth is an important perspective because it ensures the
relevance of the brand. Dragon Pearl must provide novel products to answer to
customers’ changing needs and wants. In line with this, the goal is to come up with
creative promos or bundles that follows a specific theme monthly. This could be assessed
through customer reviews and the success of this goal can be assured by posting a
personnel assigned to handle all the associated tasks.