Question

1. We know that a balanced scored card is comprised of four components: financial (or stewardship), the customer (or stakeholder), internal process, and organizational capacity (or learning and growth). What would you include in a dashboard for the financial and customer components?

Answer 1

1. The financial spectrum of balance scorecard involves with the financial aspects of the company like How well is the financial performance of the company with expenses and revenue. It also includes Salaries and employee costs along with Rents and taxes, equipment Cost, training and travel expenses, cost of benefits and supplies.

2. The consumer component of a balanced scorecard focuses over area which relates to consumer satisfaction and consumer retention like delivery of the product, A better communication system with consumers, Quickest possible redressal of the grievances of consumers. It is believed that consumers are supreme in contemporary world and best possible measures are adopted for their satisfaction.