BALANCED SCORECARD Essay Example | Topics and Well Written Essays - 2500 words

BALANCED SCORECARD - Essay ExampleIt is headquartered at Ohio, United States. The fraternity is engaged in the railway line of offering consumer goods to its customers in packaged form. The sales and marketing division of P&G chemical group is committed towards providing best services to its customers. This study entails the preparation of a balanced scorecard for the strategies to be use in the sales and marketing division of the company keeping it aligned with the overall strategy of P&G. The Balanced add-in admits all the four perspectives of a balanced scorecard namely, the financial, customers, learning and internal crease process perspectives. The purpose of this Balanced Scorecard is to look at three bearings in this organizational unit. These bearings leave behind be measured using metrics appropriate for this discipline. financial The primary goal or objective of this business unit is to plus the sales and add to the profits of the company. A lot of sales force out are involved in the marketing of products of P&G and it needs to look at the objective of reducing the costs incurred in the various processes involved in this department as well. node Customers are the key towards the success and profitability of the company. Hence the company needs to have a well devised strategy leading to complete satisfaction of its customers. Internal Business The strategy related to this perspective would be to increase the efficiency of the marketing division so that it send away serve for the better performance of the company. Learning and schooling A well devised strategy related to this perspective is also required to be devised by the company. It would include various objectives like imparting training to the personnel in the department so that they can learn on their activities efficiently and help the company to have a sustainable growth and development. Table of content Table of Contents 4 Formulation and Implementation of Balanced Scorecar d of Procter & Gamble 6 Financial Perspective 8 Sales Growth 9 Growth in Operating Activities 9 costless Cash Flow Productivity 9 Customer Perspective 10 Increase in Customer Retention 10 Improved Customer Service 10 Increase in number of Customers 11 Internal Perspective 11 Reductions in Inventory 11 New Product Developments 12 approach in Distribution Efficiency 12 Learning and Growth Perspective 12 Employee Turnover 13 High Skill Levels 13 Employee Satisfaction 13 References 16 Formulation and Implementation of Balanced Scorecard of Procter & Gamble Balance Scorecard was develop by Robert Kaplan and Dr. David Norton in the year 1992. It is a tool developed to measure the level of performance mainly of the employees in an organization. In a Balanced Scorecard remains performance is measured on the basis of four perspectives, namely, financial, customers, learning and development, and internal business process perspectives. It contains twain the target scores and the scores ac hieved based on the given category. So it becomes easy to measure gamy as well as low performances using Balanced Scorecard (Balance Scorecard Institute, 2012). This study entails nearly the preparation of a Balanced Scorecard for the sales and marketing division of Procter and Gamble (P&G). P&G is a reputed company which operates its business activities worldwide. It is headquartered at Ohio, United States. P&G is engaged in the business of offering wide range of FMCG products to its customers and they are delivered to them in packaged forms (Yahoo Finance, 2012). The sales and market division of the company constitutes a critical unit of the organization and Balanced Scorecard prepared in this study can help analyze and measure its effectiveness, thereby helping the company to have well devised strategy to shit the objectives of the company. The first step towards