Balanced Scorecard

A primary objective in measuring productivity is to improve operations either by using fewer inputs to produce the same output, or to produce:

General Dynamics (GD) has realized a long-standing history of success delivering product and service solutions since being formed in 1952. They have purposely divested themselves of technology, product and service offerings in an effort to remain focused on their core competencies and primary customer; the United States Department of Defense. While GD’s primary customer remains the DoD, they have diversified their offerings to adjacent markets within the DoD (e.g, Information Technology and Cybersecurity solutions). GD has also

Though revenues have increased by 3.8 percent over the 2009 revenues of $45,189 million, Lockheed Martin's ranking has dropped from 44 in the 2010 Fortune 500 list (CNNMoney, 2011). So far in 2011, Lockheed Marin is positioned to have a great year. Its 2011 third quarter report shows net sales at $12.1 billion, compared to the $11.3 billion in third quarter 2010. Continuing operations also grew 19 percent to $665 million, compared to $557 million in 2010. The CEO, Bob Stevens, stated that this strong third quarter is the result of the company's focus to aggressively reduce costs while still delivering value and support to its customers. Though there is still challenging global security and economic issues, Stevens expects continued growth for 2012 (LMC, 2011).

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.

Balanced scorecard is a set of measures, which give the complete view of any business performance. Kaplan and Norton (1995) explained balanced scorecard in following words:

The company is a leading supplier of sophisticated defense systems to the United States and its allies, and sets the world standard in business jets. General Dynamics has four main business segments.

1. To calculate multifactor productivity, we divided our inputs by total outputs. Beforehand, capital costs as well as barrel costs were low. When we calculated the multifactor productivity for 2009, the capital costs nearly doubled and the barrel costs also increased. This resulted in a minimal increase in productivity. Since the productivity percentage has decreased, some of the suggestions for Zychol Chemical Corporations would be to look for suppliers that can offer cheaper cost per barrel. Also re-examining the large increase in capital costs might provide some deeper insight into the drop of productivity.

General Dynamics is a Fortune 100 company. For more than 50 years, they have been serving the United States government by providing the Department of Defense tanks, ships, and submarines. (http://www.gdit.com/About-Us/History/, 2011, p. 1) With the progression of technology, General Dynamics has development into the market leader in mission-critical information systems. Between 1999 and present day, General Dynamic acquired Communication Systems, Electronic Systems, and Worldwide Telecommunication Systems. The largest and fastest growing division of General Dynamics is the companies Information Systems and Technology group.

The balanced scorecard is a strategic planning and management system that was developed by Dr. Robert S. Kaplan and Dr. David P. Norton in the early 1990's. Their goal was to provide organizations with a clear understanding of what to measure in order to improve performance and results (Balanced Scorecard Institute 2014). The balanced scorecard is a framework that allows an organization to measure performance and compare it to the organization’s strategic objectives and goals (Kinney and Raiborn 2013, 10).

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.

In the recent years, General Dynamics has begun an expansion to expand their market reach in many different areas. Examples of this would be their development of General Dynamics healthcare providing health care benefits to individuals and other organizations. As well as purchasing Gulfstream further deepening their ties to the aerospace field. Their strategic plan to explore the business jet market has struggled in the past years. The industry as a whole has dipped in their level of business. Gulfstreams business as well as their rivals is not as lucrative as it was in past years. (Smith, 2017) General Dynamics has potentially been spreading themselves thin with their constant expansion in different marketplaces. The company has many irons in the fire, and this has caused their attention to be divulged

Productivity is the cornerstone of any organizations profitability. This means that any organization can be deemed productive if all its moving parts are working

Research In Motion Limited (RIM) was founded in 1984 and is headquartered in Waterloo, Ontario, Canada but has multinational operations with offices in North America, Asia-Pacific and Europe.

A balance scorecard is essential for developing a healthy business growing place. It is a vital key for defining the goals and targets of a company as well as the vision, mission and the SWOTT Analysis. A balanced scorecard is, “A set of measures that are directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2013, p. 194). This company will relate the in-building turbines values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard (financial performance, customer knowledge, internal business process, and learning and

The most important thing to having a successful business is to have the most up to date information. If you have all the information at your fingertips it can help you to make the best possible decisions. What kind of information is available and how do we sort through it and use this information? In the hospitality industry the amount of information received everyday is overwhelming, and it isn’t possible for staff to be able to sort through it and organize it properly. In the hospitality industry the information technologies are the tools that the staff uses to sort and manage the information and the balanced score card is just one