Essay: The Customer Perspective of the Balanced Scorecard

Essay: The Customer Perspective of the Balanced Scorecard
May 24, 2011 Comments Off on Essay: The Customer Perspective of the Balanced Scorecard Academic Papers on Business Studies,Sample Academic Papers admin

Sample Essay

Introduction

Kaplan (2005) creates 4 perspectives of business performance. These are namely, Financial, Customer, Business Process, and Learning and Growth. There has been a very long debate regarding the management perspective as an integral part of the business performance and customer satisfaction. The customer perspective of the Balance Scorecard is dependent on “time, performance, service, and quality” (Kaplan, 2005).

Hyde Park Electronics

Looking at the company viewpoint, Hyde Park made intense efforts to gauge their business performance giving heed to the customer perspective; this customer-centric approach stands out to be the chief element, contributing towards the improvement in Hyde Park’ performance.  Different elements that Hyde Park considered include:

  1. Quality measures
  2. Marketing approach

These two were mainly focused in order to control assurance lapses and keep up consumer profits to perk up its operational performance entirely. Hyde Park’ main force towards quality was its timely delivery to the customer and before that how took steps towards knowing how competently the business meets the customer orders. In order to ensure this factor was fully implemented, Hyde Park “created metrics such as on-time delivery, same-day delivery, and delivery within five days”  (Gumbus & Lussier, 2006). This brought about an improvement in delivery status and the percentage of timely delivery went up to 96%. The Balanced Scorecard presented an aim to “Improve profit per customer” (Gumbus & Lussier, 2006). Therefore I can opinionate the actions in use by Hyde Park are justly focused on customers and justify their profit per customer incentive.

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