Explain how the balanced scorecard

Reference no: EM131109683

Balanced Scorecard Johnson Industrial Controls, Inc. (JIC), is a large manufacturer of specialized instruments used in automated manufacturing plants. JIC has grown steadily over the past several years on the strength of technological innovation in its key product lines. The firm now employs 3,500 production employees and 450 staff and management personnel in six large plants located across the United States. In the past few years, the growth of sales and profits has declined sharply, because of the entrance into the market of new competitors. As part of a recent strategic planning effort, JIC iden- tified its key competitive strengths and weaknesses. JIC management believe that the critical strengths are in the quality of the product and that the weakness in recent years has been in customer service, particularly in meeting scheduled deliveries. The failure to meet promised delivery dates can be quite costly to JIC's customers, because it is likely to delay the construction or upgrading of the customers' plants and therefore delay the customers' production and sales.

JIC's management believes that the adoption of the balanced scorecard for internal reporting might help the firm become more competitive.

Required

1. Explain how the balanced scorecard might help a firm like JIC.

2. Develop a brief balanced scorecard for JIC. Give some examples of the items that might be included in each of these four parts of the scorecard: (a) customer satisfaction, (b) financial performance, (c) manu- facturing and business processes, and (d) human resources.

Reference no: EM131109683

Questions Cloud

Common law rules of contract : LAW 960 Legal Studies for Professionals Research Essay. The principles of equity have sought to repair injustice from gaps left in the common law of contract, however, they confer an excessive discretion upon the Court that undermines the clarity ..

Role of company product manage : As the company's product manager, your boss (the marketing manager) is concerned about the future success or viability of the product line you oversee. She wants to make sure that you understand the reasons that could cause a popular product to becom..

Government is taking various measures to counter recession : The economy of country Rumblen was hit by a banking crisis which has led to a recission. Jason Wallace, a real estate agent, says that the economy will recover soon because the government is taking various measures to counter the recession. Which of ..

Calculate the specific heat of the metal : Calculate the specific heat of the metal (J g°C). Assume that all of the heat lost by the metal is transferred to the water and no heat is lost to the surroundings.

Explain how the balanced scorecard : Johnson Industrial Controls, Inc. (JIC), is a large manufacturer of specialized instruments used in automated manufacturing plants. JIC has grown steadily over the past several years on the strength of technological innovation in its key product l..

Why did elizabeth become an indentured servant in maryland : Why did Elizabeth become an indentured servant in Maryland? What were the conditions that drove Elizabeth to be her father for aid. Does the ill treatment of indentured servants reveal anything about how the elite viewed this source of labor?

How do the enthalpy of dissolution relate : How do the enthalpy of dissolution, the crystal lattice energy, and the solvation energy of the two salts relate to these experimental observations?

Multimedia write the code in matlab use of publicly code : MultimediA You need to write the code yourself in Matlab Use of publically available code (e.g., from online sources) is not permitted

What is the purpose of the hydrochloric acid : What is the purpose of the hydrochloric acid and the sodium acetate in this reaction

User Account

All Pages