Balanced Scorecard Assignment and Paper Essay Example | Topics and Well Written Essays - 1750 words

Balanced Scorecard Assignment and Paper - Essay Example The report will also define the segments which need to be addressed by the baby shop in order to enhance its business. The balanced scorecard is an extension of traditional financial measures. Financial measures are solely not enough as they only provide information about the past events. These were applicable for the companies in the industrial age when investments in long-term capabilities and customer relationships were not given any preferences. In the modern technological age only financial measures are not adequate. In order to remain competitive and successful in business it is important for a business to create future value through investment in customers, suppliers, employees, processes, technology, and innovation."Â   (Balanced Scorecard Institute, 2009)Â   c. Customer value: Continuous customer support through online and telephonic support. With the changing business attitudes a need of rebounding between the customers and the business corporations is also felt. The call centers are seen as an important instrument in order to explain the sales executives what is being required by the customers in shape of products and services and hence improving the sales by targeting the actual requirements of the customers. The following advantages are attached with the use of call centers There must be a continued effort to improve all business and production processes. Quality improvement projects, such as on-time delivery, order entry efficiency, billing error rate, customer satisfaction, cycle time, scrap reduction, and supplier management, are good places to begin technical techniques such as SPC, benchmarking, quality function deployment, and designed experiments are excellent for problem solving. Employee involvement should be encouraged on every step of organisational planning, from decision making to implement change in the organisation. A program can be found effective when the employers guarantee the involvement of the employees at each