Balance Scorecard of Ford Motors
1. Standards to Evaluate goals:
I have a lot of critical success factors to evaluate the Ford Motors goals and ensure that it gets accomplished. Some of standards are financial and others are non-financial and some of them are quantitative and others qualitative in nature. I have judged the performance goals with at least these three standards; 2.1 Profitability and Growth:
Profitability is vital to success for Ford Motors. A profitable business pays interest to lenders, tax to authority and dividend to shareholders and bonuses to employees in time. It helps in satisfying all the stakeholders of FM. A profitable FM creates more opportunity for growth and a growing FM will generate further profit to satisfy the stakeholders. So, this cycle moves on and helps FM to become a real leader in automobile market. 2.2 Quality Assurance and Technology Innovation:
FM will not grow without quality guaranteed to their customers and introduce new technology to be competent in the dynamic nature of automobile market. FM is following product differentiation strategy, so there is no room to compromise on quality. To become a market leader it is important to introduce new technology before their competitors. This CSF is also important to achieve the operational goals. 2.3 Customer Satisfaction:
Customer satisfaction level is very important to Ford Motors, because satisfied customers are most likely to be loyal and repeated orders with Ford Motors. It will leads to higher and stable revenue to FM. 2. Organization Performance Measurement Tools:
To measure the performance of Ford Motors I have many performance measurement tools and each of them has their own pros and cons. First I have evaluated the each PM tools and then select a PM tools that is most suitable to Ford Motors. The options of PM tools are; 3.4 Dashboard:
It is a decision support system, a graphically representation of current status and historical trends of an organization’s Key
I have a lot of critical success factors to evaluate the Ford Motors goals and ensure that it gets accomplished. Some of standards are financial and others are non-financial and some of them are quantitative and others qualitative in nature. I have judged the performance goals with at least these three standards; 2.1 Profitability and Growth:
Profitability is vital to success for Ford Motors. A profitable business pays interest to lenders, tax to authority and dividend to shareholders and bonuses to employees in time. It helps in satisfying all the stakeholders of FM. A profitable FM creates more opportunity for growth and a growing FM will generate further profit to satisfy the stakeholders. So, this cycle moves on and helps FM to become a real leader in automobile market. 2.2 Quality Assurance and Technology Innovation:
FM will not grow without quality guaranteed to their customers and introduce new technology to be competent in the dynamic nature of automobile market. FM is following product differentiation strategy, so there is no room to compromise on quality. To become a market leader it is important to introduce new technology before their competitors. This CSF is also important to achieve the operational goals. 2.3 Customer Satisfaction:
Customer satisfaction level is very important to Ford Motors, because satisfied customers are most likely to be loyal and repeated orders with Ford Motors. It will leads to higher and stable revenue to FM. 2. Organization Performance Measurement Tools:
To measure the performance of Ford Motors I have many performance measurement tools and each of them has their own pros and cons. First I have evaluated the each PM tools and then select a PM tools that is most suitable to Ford Motors. The options of PM tools are; 3.4 Dashboard:
It is a decision support system, a graphically representation of current status and historical trends of an organization’s Key