Essay Preview: MrReport this essayNational City Corporation’s Vision and Mission Statement inspired by the Balanced Score Card:The recommendations will begin with a newly articulated vision and mission statement for National City Corporation’s future. The new vision is created by using principles discussed in the Balanced Score Card. The Balanced Scorecard will help management measure whether operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy. The Balanced Scorecard groups performance measures in general categories (perspectives). These perspectives should aid in the gathering and selecting appropriate performance measures for National City. Four general perspectives have been proposed by the Balanced Scorecard:
•Financial perspective;•Customer perspective;•Internal process perspective;•Learning and growth perspective.The financial perspective examines if the NCC’s implementation and execution of its strategy are contributing to the bottom-line improvement of the company. It represents the long-term strategic objectives of the organization and thus it incorporates the tangible outcomes of the strategy in traditional financial terms. The three possible stages as described by Kaplan and Norton (1996) are rapid growth, sustain and harvest. Financial objectives and measures for the growth stage are integral to NCC’s recommended strategy. The measurements should stem from the development and growth of the organization which will lead to increased sales volumes, acquisition of new customers, growth in revenues etc. Some of the most common financial measures that are incorporated in the financial perspective are EVA, revenue growth, costs, profit margins, cash flow, net operating income etc. Other measures include:
Financial•Cash flow••Financial Result•Return on capital employed•Return on equityThe customer perspective defines the value proposition NCC will apply in order to satisfy its customers and thus generate more sales to the most desired (i.e. the most profitable) customer groups. The measures that are selected for the customer perspective should measure both the value that is delivered to the customer (value position) which may involve time, quality, performance and service and cost and the outcomes that come as a result of this value proposition (e.g., customer satisfaction, market share). The value proposition can be centered on one of the three: operational excellence, customer intimacy or product leadership, while maintaining threshold levels at the other two. Other measures include:
Customer•Customer satisfaction rate•Customer retentionThe internal process perspective is concerned with the processes that create and deliver the customer value proposition. It focuses on all the activities and key processes required in order for the company to excel at providing the value expected by the customers both productively and efficiently. These can include both short-term and long-term objectives as well as incorporating innovative process development in order to stimulate improvement for NCC. In order to identify the measures that correspond to the internal process perspective, Kaplan and Norton propose using certain clusters that group similar value creating processes in an organization. The clusters for the internal process perspective are operations management (by improving asset utilization,
, and
, management of the internal process perspective) as well as system organization (by incorporating process optimization in order to meet business needs).
The internal process perspective is concerned with the processes that create and deliver the customer value proposition. It focuses on all the activities and key processes required in order for the company to excel at providing the value expected by the customers both productively and efficiently. These can include both short-term and long-term objectives as well as incorporating innovative process development in order to stimulate improvement for NCC. In order to identify the measures that correspond to the internal process perspective, Kaplan and Norton propose using certain clusters that group similar value creating processes in an organization. The clusters for the internal process perspective are operations management (by improving asset utilization,
, and
, management of the internal process perspective) as well as system organization (by incorporating process optimization in order to meet business needs). A-2: Reviewing and Evaluation Process. From a customer value management perspective it has a major impact on quality improvement. When comparing the product-related aspects of an organization to their customer experience, the client generally experiences a significantly improved experience when it is a customer experience, but the process may not be developed properly. As a result, NDC employees must take steps to improve performance. Here, only specific features such as user experience, user organization, database access, and management systems (e.g., Salesforce, Atlassian, etc.) can contribute to a client achieving an optimal result.
From a customer value management perspective it has a major impact on quality improvement. When comparing the product-related aspects of an organization to their customer experience, the client generally experiences a significantly improved experience when it is a customer experience, but the process may not be developed properly. As a result, NDC employees must take steps to improve performance. Here, only specific features such as user experience, user organization, database access, and management systems (e.g., Salesforce, Atlassian, etc.) can contribute to a client achieving an optimal result. A-3: Product Optimization Modeling. Product optimization modeling refers to improving operational performance that is required to maintain and improve the value of an organization. A-3 focuses on creating a consistent system, allowing the value of a product to be determined in such a way as to generate unique value for the individual customers affected. The solution may either be to employ performance metrics to measure the performance of a particular organization or to use more of an analytical model to evaluate the performance of a particular process or organization in order to optimize the value for the customer. A good use of performance metrics would be monitoring the value for the customer as well as its performance to optimize the value for NCC.
For more detail, see “Management of the Product Evaluation Model (MAPP)” and “Customer Experience and Value (EV, CE, and UHAR).”
Integrated Automation
The Company has recently hired a top software engineer to run NCC. The company will have complete automation capabilities for these tasks.
On June 26, 2012, they began the first phase of integrating the latest Automatio software in all the services they provide. The next two steps have to be done with “Customer experience and Value (EV, CE, and UHAR).”