>
(ii) Customer perspective
Kaplan and Norton (1992) mentioned that, customers tend to concern about four main parts, including time, performance and service, quality, and the costs.
M&S should set main objectives for the sake of increasing market share, making customer satisfaction on a high level as well as acquiring new customers. The main objectives contain customer satisfaction (with service, product quality and price) and customer loyalty.
M&S would like to keep customers satisfaction on a high level by offering them best service and giving them highest quality products with reasonable price. It can be measured by the proportion of deficient products which customers returned to them. Meanwhile, customers' feedback from focus group, online reviews and their in-house Customer Insight Unit are also appropriate measures (Annual report, 2012).
As I mentioned in the context part, M&S's main aim is to gain loyalty of customers, in other words, it can be judged from whether the customers would repeat their purchases in M&S. They provide M&S bank service to shoppers, specifically, M&S offer customers credit card, a set of insurance, loans, and customers would receive gift cards, vouchers and discount when shopping in M&S with the credit card. Customers' loyalty could be judged by increase in the number of M&S Credit Cards.
(iii) Internal business perspective
This part of BSC is made up of the factors that affect the employee skills, cycle time and productivity of the company (Kaplan and Norton, 1992).
Employee skills is a main objective of M&S. The company runs a flagship training programme to help employees improve knowledge and skills, for example, develop ways of measuring community health. It can be measured upon the employee who was selected for the next stage after training.
The other objective is product quality, which can be measured by regular checks on the production line. In that case, probability of finding out products with bad quality before display on shelf is much higher.
(iv) Innovation and learning perspective
According to Kaplan and Norton (1992), in global competition market, companies should make improvement to their existing products and processes, introduce new products in order to deliver value for customers, improve operating efficiency and increase shareholder value. Three main objectives of M&S are - improve employee capabilities, deliver consistently on time and product focus.
In order to survive in the competition market, a company should be innovative and upgrade their standard. M&S tried to be innovative by improving employee capabilities through flagship programme. Employee capabilities can be measured by this programme. As I mentioned in Context part, M&S tries hard to deliver products consistently on time. It can be measured by checking the stock every day. The third objective is product focus which can be measured as percentage of products that equals percentage of sales.
Summary 总结
Balanced scorecard is a performance measurements tool which can be used by different styles of companies for their performance management (Kaplan and Norton, 1992).
本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。