The Coors Brewing Company provides a leading example of how the balanced scorecard management system can be made to work in a large company that has a global operation. The Coors Brewing Company has continued to produce quality beer brands and further expanded its global expansion amidst several labor issues in the past and increasing competition in the market. Coors balanced scorecard provided a window for the successful implementation of a metrics based performance driven management tool that could be successfully carried out in a multi-environment, multi-locality corporation. The balanced scorecard system has enabled such companies to overcome corporate adversities and emerge stronger in terms of profitability and continued customer patronage.

Strategy is the key to the success of Coors as a global corporation. It has stuck to its key strategic vision of turning out beer brands that takes into consideration local tastes and preferences. This incidentally is the meat of balanced scorecard. It is the prime objective of a company to adhere strictly to its set strategy and mission in order to craft a sound corporate plan that will ensure continued success. However, other key areas such as improvement of business processes and organization, corporate harmony and development, and excellent financial management should also be addressed. The balanced scorecard methodology will not be complete if these four key performance perspectives are not present. A global company like Coors will definitely succeed in its business operation through the implementation of balanced scorecard. Unfriendly business environment, global competition and internal strife can be resolved through a sound business management metrics provided by balanced scorecard.

Categories: News