The Balanced Score Card Was Developed By Dr. Robert Kaplan And David Norton

807 Words Apr 23rd, 2015 4 Pages
The balanced score card was developed by Dr. Robert Kaplan and David Norton. It is stated that the balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization. Below is a chart that tells you what it should look like. When examining Wells Fargo this is how I would use the balance score card starting with the four perspectives:
At Wells Fargo the basic question the Customer Perspective: How do we appear to our customers? Customers are the main reason of the existence of every organization. Every organization runs due to the presence of customers. Most companies give priority to their customers. These companies are and should be concerned about their brand image in front of customers. When companies introduce new technologies, changes in their business structure, product quality etc. due to the need and expectations of the customers it is expected due to the today’s competitive world. Many companies switch to the concept of customization i.e. manufacture and deliver the product according to the demand of the customer.
While most organization do all the needful activities to enhance their positioning (image of brand in the mind of customers), this is done to satisfy and make the customer happy with the products and…

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