Explain how John could use the Balanced Scorecard Approach to assess his business and how he could practically implement the ideas

Individual case study 1You need to clearly demonstrate how you will solve the following problem. Problem statement:John Tomey (fictional name) is a business manager that is responsible for several divisions of Wesfarmers, a large Australian conglomerate of mixed businesses. Some facts include over 30 managers and 500 factory and distribution staff. Approximately half the managers work in Head Office on normal functions such as marketing, accounting, technical, and HRM functions. The other half of managers work in the factories. In a new restructure, John will lead up Wesfarmers Chemicals, Energy and Fertilisers. John’s CEO has asked him to grow the business by more than 20 per cent over the next three years. His other tasks include taking the existing business which just ‘plodded along’ to new heights by increasing skills and capabilities across both managers and other staff. John is acutely aware that approximately half the staff he has inherited do not ‘make the numbers’ in performance and some don’t ‘live the values’. John has had little experience in building people skills in such a way that divisional performance will increase as much of his past experience has been in accounting.Furthermore, he has heard about ‘the balanced scorecard’ approach but he is not sure how it works, and that innovation and learning is important in this approach which he would like to explore. More recently, he listened intently to other managers who told him how they were building a strategic HRM approach to reach the level of capabilities required to grow the business. John knows that 3 years is not a long time so he has much work to do. He considers his first group of tasks. He realises that he does not have all the skill-set required to build and grow people as well as the business so he decides to consult you as the HR Director for advice about his next steps.Required: Assuming less than perfect information where you may need to fill in the ‘facts’ by adding more assumptions that you think may assist you in solving case facts, you are required to:Advise John about the practical aspects of theories that you think are relevant (e.g. best practice, best fit, RBV) in relation to building and growing people and improving business performance;Explain how John could use the Balanced Scorecard Approach to assess his business and how he could practically implement the ideas;Include in your answer to John a one page summary of the facts in relation to ideas about how he can move forward, what strategies will be important, and how he can get people to ‘live the values’ in such a way that business performance will improve.Note: Please use all theory based on the readings in Module 1 and 2. Please use both the set text and the readings. More marks will be gained by students showing adequate evidence of readings in their case answer.

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