A Balanced Scorecard: Customer and Employee Retention

As the leading discount retailer in the United States, WalMart (NYSE:WMT) has consistently shown an exceptional ability to master the complexities of logistics, supply chain management, retailing and pricing management. The WalMart supply chain is among the most advanced and sophisticated in its use of analytics and information systems globally, often computing pricing variation and analysis literally overnight based on satellite uploads of information (WalMart Investor Relations, 2013). WalMart has also successfully taken a capital-intensive business model and transformed it into a retailing business capable of generating high profitability from low margin products based one efficiency alone (Zhu, Singh, Manuszak, 2009). WalMart is also one of the most-researched companies in the world, and continues to provide in-depth financial data on their Investor Relations site (WalMart Investor Relations, 2013). The purpose of this analysis is to evaluate the mission, vision, and overall strategy of WalMart and also define three objectives for improving the organization's financial position, showing how the objectives defined relate to the mission, vision and strategy of the company. In addition for each objective, meaningful performance measures are provided in addition to defined expected level of performance as well. For each of the objectives chosen at least one new

The immediate purpose that Armstrong has set for the linkage analysis is to measure the impact that specific enhancements for reductions of key-customer satisfaction drivers would have on branches’ financial performance. From a technical point of view, the regression model is well developed with the data provided. Each factor’s weighed impact to the final gross contribution is indicated in the results.

easu e e t tool: a o e ie of its usage a d sustai a ility

Customer loyalty plays a very vital role in an organization’s success or not always, is a very interesting debate. It has been suggested at several literature that loyal customer generates ongoing revenue and they also assist in generating profitable business income to any organization. At the same time research also suggests that there are other views available in relation to the concept of loyalty. The important factor to understand is weather those factors lead to long term business profitability or not. In my opinion regardless of other considerations, customer loyalty plays a great input in the business benefits and revenue. Today’s literature review will put some light on both customer loyalty as well as other consideration. It will further emphases the importance of the customer loyalty aspect and its impact on the revenue of the firm by supporting the concept of customer loyalty.

Due to high effectiveness and centeredness on customer, use of Balanced Scorecards is spread widely today. Many companies use Balanced Scorecards approach in conduct of their market analysis and assess their performance effectiveness as-far-as the customer satisfactions and relationship with the company is concerned ADDIN EN.CITE Andra Gumbus2006323(Andra Gumbus, 2006)32332317Andra Gumbus, Robert N LussierEntrepreneurs Use a Balanced Scorecard to Translate Strategy into Performance MeasuresJournal of Small Business Management MilwaukeeJournal of Small Business Management Milwaukee407-426Vol. 44, Iss. 3; pg. 407, 19 pgs32006( HYPERLINK l "_ENREF_1" o "Andra Gumbus, 2006 #323" Andra Gumbus, 2006). Use of a Balanced Scorecards has been touted to assist in improving the customer-company relationship with consistency thus, playing an important role in marketing strategy. This is reflected at Hyde Park Electronics Manufacturer. Upon implementation of a balanced scorecard, the company did manage to raise highest profit in less than 3 years. The customer perspective observed targeted customer satisfaction to allow repeat customer. Convenience offered to customer allowed the company to do their marketing and advertising with lots of ease.

|organisation |customers and will increase the profits. The difference from the other two sectors is that customers are |

A Balanced Scorecard is, “A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2009, p. 202). Healthy Place needs to develop a balanced scorecard in order to assist in defining the company’s mission, values, vision, and SWOTT analysis. Herein, the four perspectives, financial performance, customer knowledge, internal business processes, and learning and growth will be discussed as they relate to the Healthy Place mission, values, vision, and SWOTT analysis.

SUMMARY Several influential industry reports have pointed out that a decline in construction quality and productivity could be attributed to the performance of subcontractors who are entrusted to complete the actual works, yet subcontractor performance appraisal is a much neglected subject in construction. To facilitate subcontractor registration, management and/or selection, an equitable and reliable subcontractor performance appraisal would be indispensable. Being regarded as a reliable and practical means for performance evaluation, the balanced scorecard

Yet, OM and human resources seem to have a long history of separateness (Boudreau et al. 2003). Although human resources and operations are intimately tied to each other in virtually all business scenarios, the impact of employee attributes on operations systems has remained largely unexplored. The studies of the impact of employee attributes on operations are particularly essential in the service industry where activities of service employees connect organizations to their customers, and operations managers rely heavily on service employees’ personal interactions to impress customers (Chase 1981, Heskett et al. 1994, Oliva and Sterman 2001). In this research we attempt to address a fundamental question in OM: Does employee satisfaction have an impact on the operational performance in high-contact service industries where there are direct and close contacts between employees and customers? If so, what are the likely relationships among employee satisfaction, service quality, customer satisfaction and firm profitability? We empirically examined the consequences of employee satisfaction in service operations through a survey of 206 service shops in Hong Kong and the development of theory-based structural equations models.

Healthcare organizations want to leave a positive influence with their patients. Leaving a positive influence on the patients will make them want to return to your health care facility in the future and utilize your services. A healthcare organization needs to build loyalty within their patients. “Reflecting a broader trend in business metrics, healthcare organizations are increasingly building customer loyalty (in their case, patient loyalty measures) into their existing satisfaction surveys (Blizzard, 2002).” A customers’/patients’ loyalty is very essential when it comes down to describing a health care organization’s outcomes for their financial means. Actually, health care organizations that are not observant to loyalty could possibly endanger

The aspects of business success that Jones (2012) chooses to study are that of customer retention and employee satisfaction. Being able to minimize the loss of customers correlates to improved financial

Merriam Webster defines quality as a degree of excellence, or a distinguishing attribute. Managers strive for excellence in the workplace to improve customer satisfaction, increase the output in manufacturing while minimizing defects, as well as making the company more profitable. There are several different management systems or methodologies available for businesses to use, but the Balanced Scorecard and the Malcolm Baldrige Performance Excellence Program is the most common and widely used in the United States.

Another perspective of balanced scorecard is learn and growth. For healthcare industries, health providers must have sufficient knowledge within their specialty to provide safe and efficient services to patients. The primary objective for patients care is the quality of interventions and procedures provided to reach desirable outcomes. In addition, training and development for staff is required to ensure safe and effective work environment. Lastly, the workforce should be evaluated to address any deficiencies and morale of employees.

Wells Fargo CEO will need to restructure customer service for the benefit of the customer, employees that in turn results in more profit for the shareholders. The company says they have improved recruiting and retention in the wake of the sales scandal. The bank has made big changes to how it compensates and evaluates employees in its branches. Wells Fargo has stopped paying branch workers based on how many products they sold and increased its minimum wage to a pay rate range of $13.50 and $17 per hour depending on the market they work in.

In addition to increased sales, the company sets out to enhance the number of the overall customer share that they have.