Balanced Scorecard Analysis – Otago Museum (750 words)

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Introduction
This report is based on the Otago Museum in New Zealand which is more than a century old. It is guided by the vision of providing service and development to the society at large. It is the highest visited museum per capita in Australasia and as it seeks to maintain its position, it is encountered with challenges and opportunities. The Balanced Score Card approach has been used to develop performance measures and assist in objective formulation of strategies.

External environment challenges
There has been an increase in competitiveness in the external operating environment and the major competitors of the museum include Otago Early Settlers Museum, Olveston and the Dunedin Art Gallery. The funding challenges represent a major problem for the museum since it is reliant on grants and during 2009, it did not receive any funding from the national authorities. Its four major contributors also gave only $4 million funds which has created a fund gap in the organization...