Salvador Trinxet, Key management
Title: Key management models
The balances scorecard
The big idea
The balanced scorecard essentially uses integral performance measurement to track and adjust business strategy. In addition to the usual financial perspective, it forces the manager to incorporate the customer perspective, operations and the organization’s innovation and learning ability.
The balanced scorecard makes it possible to see aggregate financial consequences of non-financial measures that drive long-term financial success:
■What is important for our shareholders?
■How do customers perceive us?
■Which internal processes can add value?
■Are we innovative and ready for the future?
When to use it
The actual balanced scorecard measurements depend upon the nature of the company. For each perspective, we have made a non-exhaustive list of examples.
Is the company’s choice of strategy, its implementation and its execution contributing to the bottom line?
■ROI, ROCE, EVA (or any other return rate)
■sales and revenue growth
■repeat sales as a percentage of total sales volume
■revenue per unit/ton/customer/employee
■cost per unit (see Activity-based costing)
■sales costs as a percentage of total costs or revenues.
How are our efforts as regards service and customer satisfaction affecting our top and bottom line?
■market share in target segment(s)
■existing customer business development
■timely and damage-free delivery
■claims and complaints handling
■handling service calls.
Title: Key management models
Author: Steven ten Have Wouter ten Have, frans Stevens and Marcel van der Elst
With Fiona Pol- Coyne
Then management tools and practices that will improve your business
Know your activity-based costing from your value chain analysis
Editorial: Prentive Hall , Financial Times
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