The Balance Scorecard at three different companies: Hyde Park Electronic, Futura Industries and Southern Garden Citurs.

Essay by footscUniversity, Bachelor'sA, October 2007

download word file, 4 pages 2.5

The success of any company large or small is not only defined by its financial statement, but they are also defined by their customers and employees. Are their customers satisfied with their performance overall? And if not what can be done to ensure customer satisfaction? This paper will analyze the Business Scorecard, specifically the customer perspective of three companies: Hyde Park Electronics, Futura Industries, and Southern Garden Citrus (SGC). What specific perspectives each company focused on and what measures did they use to meet their goals.

Exactly what is the Business Scorecard? It is a performance management system that enables organizations to clarify their vision and strategy and translate them into action. Providing constant feedback both externally and internally to improve strategic performance and results (Arveson, 1998). Introduced by Dr. Kaplan and Dr. Norton in 1992, the business scorecard is a tool for measuring an organizations performance using four perspectives: Financial, Customer, Business Process, and Learning and Growth.

Each perspective is an integral part of the balance scorecard and each contributes to the success of the organization.

The customer perspective captures the company's ability to ensure they are providing not only quality service and goods, but also customer satisfaction. These external measures include but are not limited to customer surveys, report cards, and benchmarking current practices with leading competitors' best systems (Kaplan & Norton, 1992). According to the Balance Scorecard Institute, indicators show that if customers are not satisfied with their current service, they will go elsewhere. In order to meet the needs of the customer, we must know our customer and must have ways to measure our performance in order to track our overall strategic and operational progress.

All three companies had a similar customer perspective: How do you achieve good customer service. Each company used on-time deliver as...