Balanced Scorecard: Five Reasons For Worldclass's Balanced Scorecard

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There are many reasons for Worldclass to continue the use of its balanced scorecard. On their organizational scorecards, the focus was on the customer perspective, which includes such indicators as customer satisfaction and net promotor score (an annual customer satisfaction measure of percent of sales, marketing, customer care and product quality of the organization). Since a typical analysis of the company would not provide non-financial data such as data pertaining to how they are doing in regards to customer satisfaction, continued use of the balanced scorecard is essential to monitor this activity. On their scorecard, they have sections for deliveries, complaints, market share, brand index and surveys, all of which have high plan rates (such as percentages in the 90s out of 100%). If these factors were not periodically checked, Worldclass would not be able to improve since they would not know how they are doing. This is the same for all of the other non-financial items on the balanced scorecard because an income statement or balance sheet cannot provide this data. According to NetMBA, a balanced scorecard can help…show more content…
Often times this occurs when an organization, or a person becomes so focused on its local or group goals and standards, that they lose sight of the overall goals of the company. Therefore, it is important to get employees of all levels to work well together and consider the big picture of the company and make sure individuals feel important on what they are doing or saying to make a difference. Therefore, if everyone meets up with all of the departments in a company, everyone can understand what everyone else is trying to accomplish within the organization and can make better decisions. It is important for companies to focus on the simplicity and its vision of the scorecard and have proper monitoring of the system to ensure that it is