Balance Score Card Case Study

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Balanced score Card?: WalMart Balanced Score Card?: WalMart University of Maryland University College By Robert T. Jordan Professor Smith DMBA 620 March 9, 2018 Introduction Balance score card (BSC) is a strategic tool used to enhance the performance management of a company. The BSC is very popular and it is widely used by companies and organizations throughout the world. A BSC helps companies set targets, set organizational goals, and achieve organizational goals. The BSC uses four perspectives to evaluate a company?s performance. These four perspectives are finance, customer perspective and retention, internal operations, and the learning and growth perspective. According to Kaplan and Norton (1991), the balanced score card helps…show more content…
When customers feel they are getting the most for their buck this will lead to greater customer satisfaction and an increase in customer retention. The BSC initiative takes the customer perspective into consideration by implementing methods to attract new customers while retaining current customers. This will lead to an increase in customers. To measure customer growth WalMart plans to increase its number of customers by 5% every year for the next 5 years. If the BSC is accurate and WalMart achieves their goal they stand to increase their customer population by 25% within the next five years. Utilizing customer satisfaction/dissatisfaction surveys is an excellent way for WalMart to gauge the quality of service customers receive when frequenting their stores. It allows them to see what customers like and don?t like. It also allows WalMart executives to determine methods that are working and those that may need to be adjusted. The goal of the BSC is to decrease customer complaints by 5% every year over the next three years, and increase customer satisfaction by at least 10% every year. This will help WalMart?s BSC goal of increasing customer numbers and increasing annual…show more content…
By reducing delivery time of products ordered online for in-store pick up and reducing wait time at counters Walmart is upholding their mission statement by placing a high value on the customer?s time. This will lead to an increase in customer satisfaction which means more and more customers will be inclined to shop at WalMart. The goal is to reduce delivery time of all online purchases for in-store pick up by 5% every year for the next three years, and decreasing customer wait time at counters by 15%
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