Bac204 Accounting | Significant Resources Assessment Answers

Origin Energy is an integrated energy company, involved in gas exploration and production, power generation and energy retailing. The company operates Australia's largest power generation portfolio, supplying 13 per cent of power generation capacity to the Australian market. Origin supplies electricity to more than 4.3 million customers throughout Australia. On the following page you will find a description of some of Origin Energy's sustainability objectives and strategies, which was part of the 2007–12 five-year plan.

Origin’s Sustainability Reports for 2015 and 2016 have been uploaded to Brightspace for your perusal.

Required:

1.Now turn your thoughts to the balanced scorecard. Work from each of the strategies in the diagram to suggest performance measures for each of the four balanced scorecard perspectives: financial, customer, internal business process, and learning and growth. Remember that there should be a cause and effect relationship between strategies and measures.

2.Given these strategies, is there any need to add a fifth dimension to the balanced scorecard? If so, which particular strategies could be included in this fifth dimension?

Answer:

4.After analyzing the reports of the company, it was observed that there does exist a need to add another perspective to the given balanced scorecard analysis of the company. However, the judgment of the kind of perspective which needs to be added depends on the company (Ibrahim, 2015). The Balanced Scorecard approach is designed in a manner such that the customer, internal business process, learning and growth perspectives can be easily analyzed as the given perspectives are cascaded from the financial perspectives itself which reflect the effects and causes of the financial outcomes (Salinas et al., 2015).

If a situation arises whereby the cause and the effect approach is implemented rigorously then, a new perspective may be needed in order to analyze the non market impacts or the damage caused to the environment. Hence, it is suggested that a fifth component labelled as Sustainability may be added to the Balanced Scorecard approach which helps in effective understanding of the sustainability aspect pf the business enterprise (Nzuve & Nyaega, 2013). Adding a sustainability aspect will go a long way in helping the organization to analyze the sustainable impacts of its business operations and through this the company Origin Energy will be able to function effectively. Through this the use of the significant resources associated with sustainability can be incorporated in the strategies.

References

Bhattacharya, A., Mohapatra, P., Kumar, V., Dey, P. K., Brady, M., Tiwari, M. K., & Nudurupati, S. S. (2014). Green supply chain performance measurement using fuzzy ANP-based balanced scorecard: a collaborative decision-making approach. Production Planning & Control, 25(8), 698-714.

Fürst, C., Opdam, P., Inostroza, L., & Luque, S. (2014). Evaluating the role of ecosystem services in participatory land use planning: proposing a balanced score card. Landscape ecology, 29(8), 1435-1446.

Ibrahim, M. (2015). Investigating the use of the four perspectives of balanced score card (BSC) as technique for assessing performance by Nigerian banks. Journal of accounting and taxation, 7(4), 62.

Nzuve, S., & Nyaega, G. (2013). Application of balanced scorecard in performance measurement at Essar Telecom Kenya limited.

Originenergy.com.au. (2018). Retrieved from https://www.originenergy.com.au › ... › Investors & media › Reports & Presentations
Propa, G., Banwet, D. K., & Goswami, K. K. (2015). Sustainable Operation Management Using the Balanced Score Card as a Strategic Tool-A Research Summary. Procedia-Social and Behavioral Sciences, 189, 133-143.

Reefke, H., & Trocchi, M. (2013). Balanced scorecard for sustainable supply chains: design and development guidelines. International Journal of Productivity and Performance Management, 62(8), 805-826.

Salinas, M., López-Garrigós, M., Flores, E., Santo-Quiles, A., Gutierrez, M., Lugo, J., ... & Leiva-Salinas, C. (2015). Ten years of preanalytical monitoring and control:

Synthetic Balanced Score Card Indicator. Biochemia medica: Biochemia medica, 25(1), 49-56.

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