Question

Imagine what the balanced scorecard of a supermarket chain could be like. Focus on the customer as well as learning and growth perspectives. Write two objectives that a supermarket chain would be likely to set for the customer perspective and also for the learning and growth perspective and add a possible measure to each objective.

Answer 1

BALANCED SCORECARD

The balanced scorecard is a strategic planning and management system that organisations use to communicate what they are trying to accomplish . Alining the day to day work that everyone is doing with strategy. The balanced scorecard gives companies a simple tool that shows them specific financial and non financial indicators. The objective is to focus simultaneously on financial information and on creating the abilities and intangible assets required for long term growth.

PROSPECTIVES IN BALANCED SCORECARD

1 financial prospective

2 customer prospective

3 internal business process prospective

4 learning and growth prospective

OBJECTIVE AND THEIR MEASUREMENTS UNDER CUSTOMER PROSPECTIVE AND LEARNING AND GROWTH PROSPECTIVE

The following are the objectives and their measures in both customer prospective and learning and growth prospective

1 customer satisfaction ( objective )

Customer satisfaction can be measured by customer return , complaints, surveys

2 new products ( objective )

New products can be measured by new patents, number of design changes, research and development skill

3 customer retention ( objective )

Customer retention can be measured by percentage growth with existing customers, customer retention by category

4 motivation, empowerment ( objective)

Motivation and empowerment can be measured by suggestions per employee , suggestions implemented

5 competence ( objective )

Competence can be measured by employee turnover, experience, customer satisfaction

6 customer acquisition ( objective )

Customer acquisition can be measured by number of new customers , total sales to new customers

The above are the detailed explanation, objective and their measurements

If you are get the desired results PLEASE LIKE THE ANSWER