Chadwick Inc : the Balanced Scorecard
Chadwick Inc : The Balanced scoredcard
Question 1
Although Norwalk Division of Chadwick is not dominate the industry of personal consumer products and pharmaceuticals , it earns a high market share and is successful rely on the well –managed and its high quality product . In order to maximum its profit in modern market , a balanced scoredcard can be used to support its “Product differentiation ” strategy .
Upon to John Greenfield ’ s draft of balanced scored , it is very effective that to put net contribution of each division and operation profit after taxes and the revenue from new products as well within the Financial perspective ,since the financial perspective is more concentrated on how much of operating profit results from reducing costs and selling more units ,therefore ,working capital of the Norwalk Division will not be quite necessary or suitable to be added into the financial perspective but in the Internal measures (internal –business-process perspective).
The internal –business- process perspective is focusing on internal operation that create value for customers and thus divided into Innovation process , Operations process and Aftersales-service process. Therefore ,the Innovation measures mentioned by John Greenfield is better or more efficiently to be counted within the Internal measures. Upon to the Price index for “basket” of formulation within internal measures is rely on the entire industry or market rather to measure or operating by Norwalk itself , and should be excluded from the Internal-business-perspective. The Market share for key markets and Customer Complaint Rate will be very helpful and benefit for Norwalk ’s business strength . Since Norwalk had been successful in the past because of its track record of generating a steady stream of attractive , popular products ,which is based on the feedback from the customers. Therefore ,a customer perspective is necessary for Norwalk in planning and implementing strategies for which
Question 1
Although Norwalk Division of Chadwick is not dominate the industry of personal consumer products and pharmaceuticals , it earns a high market share and is successful rely on the well –managed and its high quality product . In order to maximum its profit in modern market , a balanced scoredcard can be used to support its “Product differentiation ” strategy .
Upon to John Greenfield ’ s draft of balanced scored , it is very effective that to put net contribution of each division and operation profit after taxes and the revenue from new products as well within the Financial perspective ,since the financial perspective is more concentrated on how much of operating profit results from reducing costs and selling more units ,therefore ,working capital of the Norwalk Division will not be quite necessary or suitable to be added into the financial perspective but in the Internal measures (internal –business-process perspective).
The internal –business- process perspective is focusing on internal operation that create value for customers and thus divided into Innovation process , Operations process and Aftersales-service process. Therefore ,the Innovation measures mentioned by John Greenfield is better or more efficiently to be counted within the Internal measures. Upon to the Price index for “basket” of formulation within internal measures is rely on the entire industry or market rather to measure or operating by Norwalk itself , and should be excluded from the Internal-business-perspective. The Market share for key markets and Customer Complaint Rate will be very helpful and benefit for Norwalk ’s business strength . Since Norwalk had been successful in the past because of its track record of generating a steady stream of attractive , popular products ,which is based on the feedback from the customers. Therefore ,a customer perspective is necessary for Norwalk in planning and implementing strategies for which