Question

Customer-Focused Measures for a Balanced Scorecard [LO 7, 9] Major’s Fitness Club operates a 20,000-square-foot facility in Dallas. For the coming year, the company is considering development of a balanced scorecard.
Required:

Help the company by identifying three customer-focused measures that can be used on the balanced scorecard. Discuss the key items related to a successful balanced scorecard.

Answer 1

customer-focused measures - Balance score card for a Fitness centre:

1) customer satisfaction rate

2) Turnover rate among members

3) market share goals as well as product and service attributes

Key items related to Successful balanced scorecard :

• Scorecards Do Not Come in a Can
• Don’t Build a Scorecard Unless You Have a Strategy
• The Value of a Scorecard is Directly Related to the Engagement of the Team
• Be Explicit about the Relationships Among the Four Components of a Scorecard
• Measure the Right Things
• Less is More
• Have a Balance Between Lead and Lag Measures
• Use the Measures as the Basis for Decision-Making
• Ensure the Scorecard is Used As the Basis for an Ongoing Process, Not a One-Time Event