Thursday, November 21, 2019

Building a Balanced Score Card Term Paper Example | Topics and Well Written Essays - 2500 words

Building a Balanced Score Card - Term Paper Example unt the perspectives of operation, namely financial perspective, customer’s perspective, the company’s internal perspective, and the learning perspective of employees of the company. The Balance scorecard model can be explained from the diagram below. The Balance scorecard of South-West Airlines measures the strategic performance of the company in terms of metrics. Metrics are nothing but means of measurement of actual values of performance against the set target to fulfill the objectives of South-West Airlines. The financial perspective of South-West Airlines takes into account the growth of revenue, the operating profit, financial position of short-term and long-term solvency. The customer’s perspective takes into account the increase of customers, transaction size with the customers and the degree of customer satisfaction. Talking about the internal perspective of South-West Airlines, the main objectives are product improvement, maintenance of market size, ratio of equipments to new equipments, innovation in service, quality of operations and turn-around time. The learning and growth perspective takes into account the training of employees of South-West Airlines, the turnover of its employees, and the compensation for their employees. The objective set under the four perspectives for South-West Airlines in its Balanced scorecard model depends on the mission and vision of South-West Airlines. Mission of South-West Airlines states that the company is dedicated to provide customer sa tisfaction with its high quality of operational efficiency and service quality that would provide a sense of warmth, pride and friendliness in the rights spirits of the company. The goal of the South-West Airlines is aligned with its vision of being the largest player in low-cost market segment. The company plans to achieve this with high utilization of its aircraft and increasing the frequency of flights in the short-interval routes connecting secondary cities and destinations.

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