Homebase Coursework Example | Topics and Well Written Essays - 2750 words

Homebase - Coursework Example The balanced scorecard tool is explained before designing the scorecard for the case company. Also the use of the balanced scorecard in the performance evaluation and monitoring of the modern businesses are discussed. Both the balanced scorecard outcomes and the designed strategy map are explained and analyzed to provide suitable recommendations to the Board of Directors of Homebase for deciding on the future strategic direction of the company. The recommendations are given with the aim of supporting the management of Homebase to take suitable corporate and business decisions and devise the appropriate strategies for the achievement of the business goals and objectives and for implementing the formulated strategies in the most efficient and value adding manner. Homebase  is a home improvement retail company based in the United Kingdom. The company operates in the segment of home improvement and garden centre and is a subsidiary of the famous Home Retail Group. Homebase operates with 323 outlets across different locations in the Republic of Ireland and the United Kingdom. The company is a highly successful retailer in the United Kingdom which has recorded a profit of GBP 18.9 million in the financial year 2013-2014. Also, the revenues for the company were recorded to have a value of GBP 1.46 billion in the financial year of 2013-2014 as per the annual report published by the company. The vision of the company is to provide the customer groups in the country with a wide range of home improvement products and services within a differentiated environment. The company aims to provide both convenience and value for its customers through its operations (Crawford, 2008). Homebase uses a number of strategies in its operational, financial, human resource management and other business functions for the purpose of developing consistency in its service provision and for creating competiveness and success in the dynamic business environment in which it functions. The