Balanced Score Card
Scorecard Nicholas McLaughlin BUS/475 Victor De Jesus
Introduction This paper is a manner of having a balanced score card so that all angles of the company will be maintained and one does not become more important than the other does. When the scorecard is balanced then it is almost impossible for one part of the company to lack the attention that it needs. When the scorecard is properly balanced it is possible that a proper strategic plan is in place.
Customer Value Customer metrics are going to be used as a percentage of customers that are happy. Our strategic objective is customer satisfaction. We strive to maintain a customer satisfaction percentage of 98% the site eBay allows customers to give feedback on products and maintains a percentage for you. In the form of positive feedback versus negative feedback. While customer retention is nice it may not be possible since once these items are bought it is highly unlikely that the same product will be bought again. That does not mean that customers will not return to buy other pieces but usually purchase of furniture are farther apart than other items. We are focusing on initial customer satisfaction so with the thought that a happy customer is a returning customer.
Financial Perspective Financial perspective is based on the idea that the ability to buy this level of quality at this price. The normal level at this price is made of particleboard and plastic. This furniture is made of solid oak and finished on all sides which is even uncommon among more expensive products. We are starting with a trying to maintain a small piece of the market share. This is a side business that we hope grows into a self-sustaining business in the future. The cost are minimal and already budgeted into personal finances so this portion is negligible. The furniture is not built until it is ordered so that warehousing does not become an issue. The Dell format is being used in this
Introduction This paper is a manner of having a balanced score card so that all angles of the company will be maintained and one does not become more important than the other does. When the scorecard is balanced then it is almost impossible for one part of the company to lack the attention that it needs. When the scorecard is properly balanced it is possible that a proper strategic plan is in place.
Customer Value Customer metrics are going to be used as a percentage of customers that are happy. Our strategic objective is customer satisfaction. We strive to maintain a customer satisfaction percentage of 98% the site eBay allows customers to give feedback on products and maintains a percentage for you. In the form of positive feedback versus negative feedback. While customer retention is nice it may not be possible since once these items are bought it is highly unlikely that the same product will be bought again. That does not mean that customers will not return to buy other pieces but usually purchase of furniture are farther apart than other items. We are focusing on initial customer satisfaction so with the thought that a happy customer is a returning customer.
Financial Perspective Financial perspective is based on the idea that the ability to buy this level of quality at this price. The normal level at this price is made of particleboard and plastic. This furniture is made of solid oak and finished on all sides which is even uncommon among more expensive products. We are starting with a trying to maintain a small piece of the market share. This is a side business that we hope grows into a self-sustaining business in the future. The cost are minimal and already budgeted into personal finances so this portion is negligible. The furniture is not built until it is ordered so that warehousing does not become an issue. The Dell format is being used in this