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Nordstrom Balance Scorecard

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Nordstrom Balance Scorecard

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  • May 2012
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Balance Scorecard
Study performance measurement in companies whose intangible assets played a central role in value creation. Interest in measurement for driving performance improvements Nordstrom: meets the needs of (Customer relationships and solution rather than price sensitivity.) Goal: obtain desired customer outcomes, such as acquire, satisfy, and retain targeted customers, and to build the share of their spending done with the company. Objectives in the learning and growth perspective described the goals for employees, information systems, and organizational alignment. Example of Company objective:

Increase same store sales by 2-4%. Expand credit revenue by $25-$35 million while also reducing associated expenses by &10-20 million as a result of lower bad debt expenses. Continue moderate store growth by opening 3 new Nordstrom stores, relocating one store and opening 17 Nordstrom racks. Find more ways to connect with customers on a multi-channel basis, including plans for an enhanced online experience, improved mobile shopping capabilities and better engagement with customers through social networking. Improving customer focus: “Most important, we continue to do everything in our power to elevate our focus on the customer. Our challenge is to keep building on this momentum. Our number one goal firmly remains improving customer service.” (Blake Nordstrom, CEO) Sources: “Nordstrom 2009 Annual Report,

JWN – Q4 2009 Nordstrom Earnings Conference Call,” www.streetevents.com ,

The Balanced Scorecard
is a tool that is widely used
to help a company achieve
its financial objectives by
linking them to specific
strategic objectives derived
from the company’s business
model.

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