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Using a balanced scorecard to measure and control organizational performance would have many advantages to a company. One of the advantages would be knowing how your company is doing and what they need to improve on in order to stay on track. According Daft, “A current approach to organizational control is to take a balanced perspective on company performance, integrating various dimensions of control that focus on markets and customers, as well as employees and financials” (p.644). With this approach companies are able to succeed and are seeing more of a long term results. A scorecard contains four major perspectives: financial performance, customer service, internal business process, and potential for learning and growing.
If I had created a balanced scorecard for Walmart, my first and biggest performance that I would track is customer service. I would have customers send in a survey to tell us how their service was at the location that they have visited. They can fill out their survey using via email, website or an App. This would give me a clear understanding of what our customers are looking for and how they are being treated. In order to have a quick response to the customers feedback I would set a limit of how late a response can be sent out. Having a quick response will give customers a satisfaction that their surveys are being heard and someone cares. I would also use the financial performance perspective to see which products are improving and not improving the financial performance. Using the internal business process I will be able to make sure that my products are being shipped to the customers houses on the correct date and time. With the potential for learning and growing I would be able to see how well my resources are being managed and what I can do to make Walmart improve.