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 …show more content…
According to a survey, a happy and satisfied customer will share their good experience with 5-7 people but dissatisfied customer will share their bad experience with 10-15 people. So, every organization such as a financial institution like Wells Fargo should focus on their after sales services and helps their customer in the most effective manner.
A customers’ concerns tend to fall into four categories: time, quality, performance & service and cost. A company works on customers’ concerns in following ways:
a) Time: for providing product in timely manner and in customized way, company reduces set up time and lead time. Also, company focuses on reliable suppliers who provide them resources at
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 …show more content…
According to a survey, a happy and satisfied customer will share their good experience with 5-7 people but dissatisfied customer will share their bad experience with 10-15 people. So, every organization such as a financial institution like Wells Fargo should focus on their after sales services and helps their customer in the most effective manner.
A customers’ concerns tend to fall into four categories: time, quality, performance & service and cost. A company works on customers’ concerns in following ways:
a) Time: for providing product in timely manner and in customized way, company reduces set up time and lead time. Also, company focuses on reliable suppliers who provide them resources at