Essay on Balance Scorecard for European Bread
Artisan baking, that is, production of bread and other baking products in limited quantities using conventional methods is being outweighed by mass production of breads and other baking products by big companies. Nonetheless, there are companies in Canada in the baking industry that still value artisan baking such as European Bread. However, given the limited production of their products and fierce competition by companies producing bread and other baking products in bulk, bakeries such as European Bread need to have formidable strategies and develop balance scorecards that will enable them continue operation and expand in the near future.
Background: Industry and Corporate Analysis-essay on Balance Scorecard for European Bread
The Canadian baking industry comprises of companies that produce bread, pastries, cakes and similar perishable bakery products. Bread was initially produced at home in Canada. However, as communities emerged, small bakeries gradually came up and evolved into the major baking establishments evident in today’s Canadian baking industry. In the last forty years, incessant changes have occurred in the baking industry. More specifically, contemporary technology has resulted in an increase in large and more intricate production operations. This increase in production has led to excess production capacity in numerous parts of the nation. In addition, improvements in rail, road and air transport systems have fostered distribution capability. Finally, preservatives and effective novel packaging systems and materials have vastly extended the shelf life of many bakery products. Therefore, a contemporary wholesale baking company in Canada can easily supply many products to markets near and far from the plants. However, throughout the nation, small bakeries or community-based bakeries are also emerging at an increasing rate.
The main competitors of European Bread are experiencing rapid growth by capitalizing on the wholesome appeal of fresh baked loaves of bread baked using natural ingredients and with minimal or no preservatives. However, the bakery industry in Canada still remains highly fragmented with numerous products and players. This is evident in the launches of new products in the Canadian baking industry apart from bread by various companies. Even in the category of bread, new launches are being made in terms of bread with discordant nutritional contents. The major claim in the baking industry is that novel bakery products are mostly focusing on natural ingredients, dietary suitability and less or no elements. Moreover, as the number of novel products with new packaging increased in the market, the number of bakery products claiming to have environmentally friendly packaging increases by double figure every year. This means that consumers are continuously making healthy eating choices and this involves the products consumed by customers from the baking industry in Canada. More and more bakeries in Canada are focusing on breads and other products baked from natural ingredients and with minimal or no preservatives. In addition, companies are not only focusing on environmentally friendly packaging and displaying nutritional content on packages so as to inform consumers of the quality of the products.
European Bread-essay on Balance Scorecard for European Bread
Bread has been a staple food in the diets of many individuals for immense centuries. Since the industrial revolution, it has become common to produce bread in big factories. However, most of the breads from these big factories are the products of unnatural ingredients and preservatives. European Breads does not just follow the recipes for making bread, but does so while honoring the traditions of artisan baking.
The bread produced by European Bread Company in Canada stands out from the competition due to its outstanding and unique quality. Most of the breads from European Bread are European in style, including Miche, Sourdough, and Sourdough Rye among others. Moreover, the methods utilized in making these breads create truly delicious breads devoid of unnatural ingredients. Bakers at European Bread use their expertise to test the fermentation, as well as, mould, knead and shape the breads so as to ensure they are of top quality.
Business mission and strategic goals
The vision of European Bread is to get more and more communities to have neighborhood artisan bakeries of their own. Consequently, these communities will bring the experience and enjoyment of local and handmade products such as the breads produced by European Bread within minutes of their front doors.
Based on the operations of European Bread, as well as, industry and corporate analysis on the bakery industry in Canada, the following are strategies that European Bread seeks to achieve:
- Produce breads with completely natural ingredients and free from chemicals and preservatives.
- Enhance the utilization of environmentally friendly packaging and nutritional content displayed on the packaging to provide valuable information regarding the quality of the bread for customers to read.
- Training and educating the staff at European Bread and the communities regarding quality bread production so as to bring the experience and enjoyment of local and handmade products such as the breads produced by European Bread to everyone in Canada.
- Become the preferred supplier of bread and other products in partnership with consumers so as to foster consumer satisfaction.
Introduction to Balance Scorecard-essay on Balance Scorecard for European Bread
This balanced scorecard translates the mission and strategies of European Bread into objectives and measures. In general, this balanced scorecard has four perspectives, that is, the learning and growth perspective focusing on innovation and employees, the customer perspective focusing on prevailing and novel customers, the internal business process perspective focusing on what European Bread must excel at internally and the financial perspective focusing on financial results.