The balanced scorecard is a tactical planning and organizational tool that is used widely in business and industry as well as in international organizations to bring back the business actions as per the vision and policy of the organization. It is also used to develop internal…
The SMEs hardly keep in align to these policy and it becomes difficult in applying the balance scorecard technique. But in larger enterprises it is not that difficult. There is larger number of employees, customers are well defined and they have a strong financial stability.
Hyde Park Electronics focused upon one product category that provides the maximum of 80% of the sales. This company’s financial position is strong enough but from the point of view of BSC, the focus was only for short term and the company was required to develop strategy for the longer term purpose. Futura Industries is dealing with the high end niche variety of market. Southern Gardens Citrus is the subsidiary company of United States Sugar Corporation and competes in a consolidated market for not-from-concentrate (NFC) orange juice.
The company was financially strong as it had a strong customer base. The sales were huge from the single product category. The BSC tool provided the opportunity for the company to grow. Apart from this perspective, the company focused upon learning and growing with quality and other issues for long run benefit (Robert, 2006).
The company focused upon the retention of the talents to help growing in future. There were turnovers, more so a culture was developed and BSC provided the learning and growing technique to be better in achieving the objectives.
As per the study of the three companies it seems that they have focused it basically upon customer. Looking at the Hyde Park Electronics and Southern Gardens Citrus it basically focused keeping the customer in the core.
The application of BSC in the companies helped in maintaining the objectives and mission of the company. The overall performance of the companies has enhanced in different aspects. From the customers’ perspective the BSC have provided for the improvement in the companies. The implementation was done primarily on the basis of customers, which led to the success of the companies.
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(The Customer Service Perspective Essay Example | Topics and Well Written Essays - 500 Words)
“The Customer Service Perspective Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.net/miscellaneous/409461-the-customer-service-perspective.
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