Balanced Scorecard: Customer Perspective
The balanced scorecard (BSC) developed by Robert Kaplan and David Norton is "one of the most highly touted management tools today" (Gumbus, A. & Lussier, R. 2006), and is used extensively by Fortune 1000 companies to "set strategy and align operations to achieve breakthrough results" (Gumbus, A. & Lussier, R. 2006). Is the balanced scorecard a tool only for the multinational or conglomerate firm? Increasingly no, as small to mid-sized firms are embracing BSC as an effective "strategic planning and measurement system" (Balanced Scorecard Institute) which allows for organic growth, greater profitability, "innovation, and outstanding customer service" (Niven, P.N.D.). An analysis of three firms: Hyde Park Electronics, Futura Industries, and Southern Gardens Citrus demonstrate the positive impact of the BSC for small to mid- size entities.
The balanced scorecard was designed with the understanding that "financial measures alone were not sufficient...
Customer Perspective Balanced Scorecard On what specific customer perspectives did each company focus, and what measures did each company use to ascertain how well it was meeting the goals implied by those specific perspectives? As far as Hyde Park Electronics is concerned, they were concentrating on the quality of the product that was delivered to determine customer perspectives. The measures that were used to achieve these objectives were: manufacturing / labor efficiency
BSC Customer One of the aspects of the balanced scorecard framework is the customer service perspective. This perspective is based on the idea that there is "an increasing realization of the importance of customer focus and customer satisfaction in any business" (BSI, 2013). The general idea is that there is a strong link between pleasing the customer and achieving the desired financial results in particular. If nothing else, it is critical
Balanced Scorecard i attaching a case study answer question USING STRATEGY IMPLEMENTATION THEORY AND FRAMEWORK >>>Critically discuss benefits a balanced scorecard approach measuring monitoring performance, analyze BCom develop performance measures relate corporate goals. Balanced scorecard: How it can help Bcom plc The balanced scorecard approach The balanced scorecard approach was developed, as its name implies, to give businesses a more 'balanced' way of evaluating their strengths and weaknesses. It suggests that organizations view themselves
Balanced Scorecards: The Customer Service Perspective Balanced Scorecards The Customer Service Perspective Hyde Park Electronics, Futura Industries and Southern Gardens Citrus (SGC) all were able to transform their businesses using Balanced Scorecard (BSC) methodologies that aligned each of their respective businesses to customers so that value was consistently created and delivered, growing each business in the process. Each was able to quickly progress beyond using BSC frameworks as a means to track financial
Balance Scorecard Applications in Healthcare Organizations Balanced Scorecard The Learning & Growth Perspective The Business Process Perspective The Financial Perspective Strategy Mapping General Perspective of Performance Management Performance Planning Ongoing Performance Feedback Employee Input Performance Evaluation & Review Performance Management in Healthcare Organizations Healthcare Organization as Learning Organization Principles of Performance Management in Healthcare Organizations Performance Measurement & Evaluation Methods Used In Healthcare Organizations Setting Up Performance Management Systems Dimensions and Approaches to Performance Management in Health Care Taken From the British National Health Service Induction Programs Performance Monitoring Personal
This particular perspective is used in the accurate identification of infrastructure that a given company must acquire so as to compete in the future dynamic and highly competitive global market place. The Balanced Scorecard has not just been praised for its theoretical soundness but has actually produced real results. Prickett (2003) noted that in 2003, a study that involved 35 firms in the UK proved that the best performance measurement
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