Tesco’s Changes in Measuring and Managing the Performance

Why may Tesco have switched away from using the balanced scorecard to measure and manage its overall performance?

For many years, Tesco (www.tescoplc.com/investors/) used a balanced scorecard called the Steering Wheel to measure and manage the performance of the organization. However, in 2013 Tesco reported a 23.5% fall in half-year profits. Subsequently, Tesco has stopped using the Steering Wheel and now uses a “Big 6 KPIs” strategy. Discuss why Tesco may have switched its approach away from using the balanced scorecard to measure and manage its overall performance and how the new strategy may be utilized or improved to enhance future business performance.