Your company of your choice is considering implementing a balanced score card BSC to improve its performance and transform its self into an efficient entity with a clear vision, capable of implementing and evaluating and controlling its strategies. 1.Prepare a Balanced score card (BSC) with three specific goals that your company could set for each of the four perspectives of the Balanced score card (BSC). 2.Explain how they would use the four perspectives of the Balanced score card (BSC) and how they are interconnected.
Company use Econet Wireless for Zimbabwe
4 pages length
This solution was written by a subject matter expert. It’s designed to help students like you learn core concepts.
To develop a well-rounded Balanced Scorecard (BSC) for Econet Wireless Zimbabwe, it’s crucial to carefully analyze the company’s goals and performance indicators from different angles. The BSC usually comprises four perspectives: Financial, Customer, Internal Processes, and Learning and Growth. Each perspective sheds light on a distinct aspect of the company’s overall performance.
Balanced Scorecard for Econet Wireless Zimbabwe
1. Financial Perspective:
Goal 1: Boost Revenue
Objective: Increase annual revenue by 15%.
Goal 2: Cut Costs
Objective: Reduce operating costs by 10%.
Goal 3: Invest in Innovation
Objective: Allocate 20% of the budget to research and development.
2. Customer Perspective:
Goal 1: Happy Customers
Objective: Achieve a customer satisfaction rating of 90%.
Goal 2: Expand Market Share
Objective: Increase market share by 5%.
Goal 3: Reliable Services
Objective: Maintain network reliability with 99.5% uptime.
3. Internal Processes Perspective:
Goal 1: Work Smarter
Objective: Reduce service activation time by 20%.
Goal 2: Upgrade Infrastructure
Objective: Improve network infrastructure to support increasing data demands.
Goal 3: Improve Call Quality
Objective: Achieve a call success rate of 98%.
4. Learning and Growth Perspective:
Goal 1: Train Employees
Objective: Provide training to enhance technical and customer service skills.
Goal 2: Happy Employees
Objective: Increase employee satisfaction to 85%.
Goal 3: Embrace Innovation
Objective: Implement two new technological innovations per year.
Financial Success drives Customer Success:
More revenue allows for better customer-focused initiatives.
Customer Success drives Internal Process Success:
Satisfied customers lead to efficient internal processes.
Internal Process Success drives Learning and Growth:
Efficient processes free up resources for employee training.
Learning and Growth drives Financial Success:
Skilled and engaged employees contribute to innovation and growth.
Econet Wireless Zimbabwe can create a comprehensive plan by taking into account these interconnected viewpoints. This will help align their operations and resources with their overall vision and mission. Continuously assessing and adapting their goals and KPIs will guarantee that the Balanced Scorecard continues to drive performance improvement and transformation effectively.