Monday, July 6, 2015

Company’s Strategy – The balanced scorecard

Social media has undoubtedly influenced the measures that drive performance in many industries. I, like millions of other consumers, can attest that how the customers see your company is as crucial to its survival as its financial performance. Our opinions as customers matter and more companies, like the one I am part of, are taking note that a balanced scorecard is key to its success and performance measures need to be in place.

In the article The Balanced Scorecard, Measures That Drive Performance; the authors begin with the “customers’ perception of your company” as the first parameter of measuring the balanced scorecard which tracks all of the important elements of a company’s strategy.  In my organization, a visual scorecard is emailed to us every quarter that indicates the levels of satisfaction customers have in our products, delivery times and our support service.  This scorecard with timed goals and measures serves not only as an incentive but also as a reality check of where our company stands with the customers and its importance to the company’s strategy. The commitment to excellence is not just a statement to the customers; we are rewarded for making this commitment part of our everyday performance measure. By providing us with this visual measure, our organization affirms that we as employees are stakeholders in the execution of the corporate strategy encouraging our participation through our everyday work.

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