Balanced Scorecard Assignment - Report Example

The balanced scorecard is an extension of traditional financial measures. Financial measures are solely not enough as they only provide information about 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.

"  (Balanced Scorecard Institute, 2009) c. Customer value: Continuous customer support through online and telephonic support. With the changing business attitudes, a need for rebounding between the customers and the business corporations is also felt. The call centers are seen as an important instrument in order to explain to the sales executives what is being required by the customers in the shape of products and services and hence improving the sales by targeting the actual requirements of the customers.

The following advantages are attached to the use of call centersThere 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 organizational planning, from decision making to implement change in the organization.

A program can be found effective when the employers guarantee the involvement of the employees at each and every step. Employers should encourage the involvement of employees in all the processes affecting the workplace situation and the well being of employees.b. Employee turnover or retention: People must come to work not only to do their jobs but also to think about how to improve their jobs. People must be empowered at the lowest possible level to perform processes in an optimum manner.

There must be a continued effort to improve all business and production processes.