Balanced Scorecards Analysis

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The balanced scorecards (BSC) tool has a direct impact to the effects of strategic management of a corporation’s identity. The research performed by Abdi and Ahmad (2013) shift the focus in ways that drive a better understanding about forming and managing a corporation’s identity. These two main areas of the BSC are what actually make the identity of the corporation and how it would be managed going forward (Abdi & Ahmad, 2013). BSC was created due to the insufficiency of only using financial measures to determine a company’s performance. There have been non- financial measures incorporated into the outcome measures as well as the BSC drivers. The BSC have created four areas for measuring performance that BCBS of Texas could use. According …show more content…
The fourth element consists of the learning and growth perspective which measures the company development as it pertains to the company knowledge, skills and behavior. Even though all 4 of the measures are critical, organizations first have to start with setting objectives that are created from the company vision. Measures can then be derived from these specific and robust objectives (Abdi & Ahmad, 2013). The authors also go on to state that, “The company vision and mission provides a useful baseline to performance. Therefore, inheriting short-term, long-term, financial, and operational targets will be drawn back from the company’s vision in order to satisfy all stakeholders. Performance measures should be derived from the corporate strategy to be able to highlight the strategic objectives of the organization” (Abdi & Ahmad, 2013, p. 213). Jeremiah 29:11 (NIV) states, “For I know the plans I have for you, declares the Lord, plans to prosper you, and not to harm you, plans to give you a hope and a future.” God has plans for our lives as well as the organizations that impact them. Customer Value Flores and Vasquez-Parraga (2015) provide …show more content…
The information also provides statistics concerning the need for more guidance in managing the co-creation design process. The co-production-enabling is something that is newly available as an online option because the rising use of the internet. BCBS of Texas uses the internet to provide up to date information technology that also allow for specific business processes to be provided to customers for their customer profiles. When compared to the old school way of doing things, online customer input for production items is going to rise quickly since online reduces time and barriers that can get in the way of distance. The wide use of the internet allows for a large range of customer interaction with BCBS of Texas. Flores and Vasquez-Parraga (2015), state that studies performed in the past reflect that the customer preferences for online were greater than offline. Customer satisfaction and customer loyalty was higher in online interactions. BCBS of Texas can continue building the consumer trust online since customers tend to have a hand in the virtual community. In addition to these facts, the business, as it relates to the consumer, has a direct impact on customer participation and how they have an increased value

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