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Essay / Research Paper Abstract
This 4 page paper looks at the way three firms implemented the use of a balanced score-card, assesses in which ways the implementation was customer centric and recommends some improvements. The bibliography cites 4 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEcustBSC.rtf
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Unformatted sample text from the term paper:
company should be customers satisfaction as this drives purchases and as such revenues and profits, the needs to satisfy customers has to be balanced with other needs, such as cost
controls, the balanced scorecard (BSC) has the potential to help with the balance, but when looking at the way it is implemented it is not always with a customer centric
approach. Gumbus and Lussier (2006) look at three SMEs and the way that they have implemented it; Hyde Park Electronics, Futura and SGC. Hyde Park Electronics introduced the BSC at
a time of change where there was a shift in their business model and the firm wanted to increase sales. However, despite the underlying customer centric goals implementation itself is
not initially customer centric, the organization is being used to financial measures, these were the predominant elements incorporated into the new system. A number of measures were used, costs may
not be seen as customer centric, but costs needed to be measured in order to ensure that budgets were met and as such customer needs to be missed of ways,
such as research and development for new products. The tricks such as quality also used, measured through repairs under warranty or returns, these also have an impact on cost. Therefore,
the balanced scorecard have the potential of raising awareness of issues such as resource waste and inefficiencies. Measures that indicated customer satisfaction included the repeat purchases as well as increases
in sales. Customer satisfaction was also apparent in the way that direct customer satisfaction with the shipment of the good and the customer receiving this on time. In customers centric
terms the company understands some of the drivers. Therefore, there are some measures, which are indicative of the underlying customer satisfaction, but the main drivers remained financial. The company
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