The Learning and Growth Perspective - Essay Example

The use of Balanced Scorecard is a very important aspect of the business compared to other performance management strategies; it responds immediately progress, feedback and changing business conditions. Various successful organizations like Futura Industries have used this strategy of the Balanced Scorecard and it is evident that the strategy has positively contributed to the companies’ success over years. A Futura Industries is an international company based in Utah led by Susan Johnson. It has more than 50 years of experience in aluminum design, extruding, fabrication, finishing, and machining.

They needed a plan to help the business grow over years. Susan Johnson, the president of Futura Industries came up with the idea of deploying the Balanced Scorecard in the organization. She argued that for success to be evident in the company, employees’ welfare is the key to success. She believed that employees are very important assets to the company that need to be treated with utmost care and respect. She says that; Futura does not only require great machines, but also great people. For an organization in its success in its endeavors; “The opportunity for personal growth is one of the keys to maximizing employee motivation” (Bruce & Pepitone, 1999, p.9). Susan Johnson considered growth, innovation, and learning quadrant of the Balanced Scorecard as the most important aspects for the company’s growth.

A company’s success goes hand in hand with its foundation which is molded by the employees. For Futura company success to be evident, Susan Johnson says that the company not only expects success to come from the employees but also its customers. Good Customer care service leaves a promising fact to the company that the customer will still come back someday. The Balanced Scorecard has helped Futura Industries in that, the company set goals and provided a safe, challenging and enjoyable workplace for the employees.

Futura industries used the strategy of hiring and people and retaining the best people in the market and customer devotion which highly contributed to its competitive advantage with the other rival companies in the market. To maximize employees motivation in Futura, Johnson came up the idea of implementing surveys to the employees such as; Employee friendly initiative at Futura, Birthday Review, Leadership Review, Certification and Training Matrix, and an Annual Performance and Personal Development Review.

Performance appraisal in an organization can be widely measured in different aspects as in the case of Futura. It contributes on determining the employees view regarding the company in general and what improvements should be done. Generally, “productivity can be increased significantly if supervisors set a specific production goal and provide attention and support to the workers” (Grote, 1996, p.6). At the end of every year, employees at Futura Industries complete the Employee Friendly Initiative survey which records in excess of 60 benefits and other factors that are important to the employee such as; Sports team membership, Medical benefits, spouse scholarships, and flextime options are discussed.

The survey asks the employees to give their views about the review benefits. In the case of Birthday Review, the employee is given the review survey in the same