You manage an Apple Store. Explain how each of the four perspectives of the balanced scorecard is relevant to your business.
What will be an ideal response?
A balanced scorecard gives top managers a fast but comprehensive view of the organization via four indicators: (1) customer satisfaction, (2) internal processes, (3) innovation and improvement activities, and (4) financial measures.
The financial perspective answers the question "How do we look to shareholders?" and focuses on revenue growth and productivity growth.
The customer perspective answers the question "How do customers see us?" by translating the mission of customer service into specific measures such as market share, customer acquisition, customer retention, customer satisfaction/loyalty, response time, and percentage of bids won.
The internal business perspective asks "What must we excel at?" and focuses on innovation, customer service and satisfaction, operational excellence (which includes safety and quality), and good corporate citizenship.
Finally, the innovation and learning perspective answers the question "Can we continue to improve and create value?" Learning and growth of employees is the foundation for all other goals in the balanced scorecard. The idea is that capable and motivated employees will provide higher-quality products and services in a more efficient manner.
Students should explain how each perspective is relevant to an Apple Store.
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