Balanced Scorecard
GE Turbines and Balanced Scorecard
BUS/475
GE Turbines and Balanced Scorecard
A balance scorecard is essential for developing a healthy business growing place. It is a vital key for defining the goals and targets of a company as well as the vision, mission and the SWOTT Analysis. A balanced scorecard is, “A set of measures that are directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2013, p. 194). This company will relate the in-building turbines values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard (financial performance, customer knowledge, internal business process, and learning and growth.
Financial Perspective/Shareholder Value A strong and well defined vision and mission statement will facilitate this company to achieve its target. The objectives of the in-building turbines should be implemented as a daily routine so as to increase the performance of the company. The first and foremost responsibility of a company is to seek its customer satisfaction, benefit utilization, increased net revenues and also to achieve financial stability. GE being a financially stable company already gives this new product line a head start for the investors to trust this product. In order to evaluate the financial stability of a company, one should calculate the Operating cost, Earnings per share, growth revenue & return on interest and capital. The shareholders of GE should be very excited for this new line because if it is as successful as hoped for, the stock for the shareholders could see multiple splits happening for GE stock in the near future. These splits will double the already invested, as well as lower the cost per share for new investors.
Customer Value Perspective The customers will determine the success of the company. Customer satisfaction must remain at the top of the list for this company in order to see it
BUS/475
GE Turbines and Balanced Scorecard
A balance scorecard is essential for developing a healthy business growing place. It is a vital key for defining the goals and targets of a company as well as the vision, mission and the SWOTT Analysis. A balanced scorecard is, “A set of measures that are directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2013, p. 194). This company will relate the in-building turbines values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard (financial performance, customer knowledge, internal business process, and learning and growth.
Financial Perspective/Shareholder Value A strong and well defined vision and mission statement will facilitate this company to achieve its target. The objectives of the in-building turbines should be implemented as a daily routine so as to increase the performance of the company. The first and foremost responsibility of a company is to seek its customer satisfaction, benefit utilization, increased net revenues and also to achieve financial stability. GE being a financially stable company already gives this new product line a head start for the investors to trust this product. In order to evaluate the financial stability of a company, one should calculate the Operating cost, Earnings per share, growth revenue & return on interest and capital. The shareholders of GE should be very excited for this new line because if it is as successful as hoped for, the stock for the shareholders could see multiple splits happening for GE stock in the near future. These splits will double the already invested, as well as lower the cost per share for new investors.
Customer Value Perspective The customers will determine the success of the company. Customer satisfaction must remain at the top of the list for this company in order to see it
References: Budget. (2014). In Dictionary.com. Retrieved from http://dictionary.reference.com/browse/budget Buhrman, M. (2014). Energy rates could increase after storm. Retrieved from http://russellville.thv11.com/news/news/111997-entergy-rates-could-increase-after-storm Lorette, K. (2014). Importance of Product Packaging in Marketing. Retrieved from http://smallbusiness.chron.com/importance-product-packaging-marketing-648.html Product Focus. (2014). Retrieved from http://www.productfocus.com/pricing_how_to_price.php What is Carbon Fiber? (2014). Retrieved from http://www.dragonplate.com/sections/technology.asp Strategic Management Insight (Sep 03 2013). Retrieved from http://www.strategicmanagementinsight.com/mission-statements/general-electric-mission-statement.html Balanced Scorecard Institute (2009) Balanced Scorecard Basics. Retrieved Sept. 19, 2014 from http://www.balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid/55/Default.aspx Pearce, J. A. & Robinson, R. B. (2013). Strategic management: Planning for Domestic and Global Competition (13th ed.). New York: McGraw-Hill.