Balance Scorecard Working
Question 1
Objectives identified for each perspective:
- Financial perspective- Increase revenue by adopting the cost leadership strategy ,Increase the profitability by reducing the overhead cost, maintaining the growth and prosperity of the company by effective utilisation of resources, economic value added, market value of shares, accounting ratios, trend analysis and risk assessments. How we create value for our owners. RS Kaplan, RS Kaplan, DP Norton, DP Norton - 1996
- Customer perspective- Increase customer confidence and retention by customers satisfaction and loyalty and the image among customers and this done by the customer relationship management, customer value by reliable after sales service. How well our services meet their needs. RS Kaplan, DP Norton - Das Summa Summarum des Management, 2007
- Internal process- Improving the quality of service and brings automation and reduces the cycle time that will bring the efficiency and speed in this perspective. How we improve internal process for cheaper better and faster services. RS Kaplan, DP Norton, A Santapau - 1997
- Learning and Growth- Improving the Employee loyalty, morale and health, Executive development by upgrade the information technology, Skill and knowledge improvement by training of employee and route planning. And adopting the cultural and leadership style. How we support the internal processes. R Kaplan, D Norton - 2009
Question 2
Measures in customer perspective: R Kaplan, D Norton - Editorial Mc GrawHill. Colombia, 2005
- Index of customer satisfaction.
- Number of repeat customers.
- Number of new customers added.
- Reinforcing the brand ranking of the customer.
- Ranking of image on marketing media.
- Departure and on time arrival rating.
- Price comparable with market price.
- Customer ranking.
Question 3
- For Providing Respectful , healthy and supportive environment: Initiatives by adopting work towards achieving healthy environment at workplace , mental health and order of excellence. RS Kaplan, DP NORTON - Barcelona: Editorial Gestión, 2000
- Building a engaged workforce because learning is more than training-Initiatives by new job research classification system and prepare proper plan for implementation, change in the attitude and knowledge regarding the latest technologies. RS Kaplan, DP Norton - Harvard Business Review, 2005
- Build a collaborative, positive environment at workplace for all the employees- Initiatives by adopting work relating to the achieving top 100 employer in the country.
- Redesigning satisfaction survey of the employee. RS Kaplan, DP Norton - Harvard Deusto Business Review, 2001
- Milestone Gantt chart-This is the visual way to check the airlines progress in achievement of its milestones. S Kaplan - David, Cuadro de mando integral, 2000
- Initiatives with starting and ending date and that must be noted.
- Ownership plan relating to stock and the training of the ground crew. RS Kaplan, DP Norton - Editorial Gestión, 2000
Sources:
Articles:
Atkinson, Helen. Strategy implementation: a role for the balanced scorecard? Management Decision, 2006, Vol. 44, Issue 10, p. 1441.
DeBusk, Gerald K.; Crabtree, Aaron D. Does the balanced scorecard improve performance? Management Accounting Quarterly, Autumn 2006, Vol. 8, Issue 1, p. 44.
Assiri, Ali; Zairi, Mohammed; Eid, Riyad. How to profit from the balanced scorecard. Industrial Management & Data Systems, 2006, Vol. 106, Issue 7, p. 937.
Books:
Nair, Mohan. 2004. Essentials of balanced scorecard. Hoboken, N.J: John Wiley & Sons
Niven, Paul R. 2006. Balanced scorecard step-by-step: maximizing performance and maintaining results. Hoboken, N.J: John Wiley & Sons
Banker, R. D.; Janakiraman, S.N.; Konstans, C. 2001. Balanced scorecard: linking strategy to performance. Morristown, NJ: Financial Executives Research Foundation
Websites:
The Balanced Scorecard Collaborative website was cofounded by Robert S. Kaplan and David P. Norton. www.bscol.com
The Balanced Scorecard Institute is an independent, nonprofit source of information about applying the Balanced Scorecard to management in government and other nonprofit organisations. www.balancedscorecard.org
