Balanced Scorecard (BSC)
“Most companies use the balanced scorecard (BSC) to focus on the financial aspects or the operational metrics required by ISO quality certification. But that is not all one unique company uses the BSC for. At Futura Industries, President Susan Johnson built the enterprise 's success over the past 3 years on the BSC 's foundational level - the learning, innovation, and growth dimension. This dimension provides the building blocks that generate success in the remaining 3 quadrants: customer service, financial, and internal operations. And the results have followed: a 50% increase in revenue without adding personnel from 1996 to 1999. This organization is all about putting people first; So much so that the company of 300 ranks in the top 10 Family Friendly Employers in Utah for the third year in a row.” (Gumbus & Johnson, 2003)
Futura’s Learning and Growth Perspective
Futura’s President, Susan Johnson, emphasized the learning and growth perspective over the other balanced scorecard perspectives because the company’s financial metrics, customer measures and internal processes were working, as they should. The learning, innovation and growth perspective served as a foundation for the other perspectives, resulting in success for the company. Susan Johnson says, “The learning, innovation, and growth quadrant is the most important dimension in the balanced scorecard because people who are respected, trusted and challenged to grow are the foundation of Futura.” (Gumbus & Johnson, 2003).
Futura Learning and Growth Measures
In this particular article,
References: Gumbus, A. & Johnson, S.D. (2003, July). The balanced scorecard at Future Industries. Strategic Finance. 85(1). 36-42. Retrieved May 17, 2010, from http://proquest.umi.com/pqdweb?sid=1&vinst=PROD&fmt=6&startpage=- 1&clientid=29440&vname=PQD&RQT=309&did=370139621&scaling=FULL& vtype=PQD&rqt=309&TS=1226799369&clientId=29440 Kaplan, R.S. & Norton, D.P. (2001) the strategy-focused organization. Harvard Business School Press. Kaplan, R.S. & Norton, D.P. (2004). Measuring the strategic readiness of intangible assets. Retrieved May 17, 2010, from http://www.cma-slp.com/onlinelibrary/OL_English/Strategy%20Implementation/Management%20Accounting/MeasuringTheStrategicReadinessofIntangibleAssets Niven, P. (N.D.) Learning and Growth perspective. EPM Review. Retrieved May 17, 2010, from http://www.epmreview.com/Resources/Articles/Learning- and-Growth-Perspective.htm