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Chadwick Inc. Balance Scorecard

Decent Essays

Nov. 13, 2013

The Balance Scorecard – Chadwick, Inc.
Relying on traditional financial measures, a single perspective, failed to provide a clear performance on the business performance of operations. The balanced scorecard gives managers a comprehensive view of the business by providing four perspectives of both external and internal operations: financial perspective, customer perspective, internal business perspective, and innovation and learning perspective. The Balance Scorecard allows executives to analyze and compare these internal and external operations to see if they have improved in an area at the expense of another. This strategy gives the company the opportunity to protect itself from posting suboptimal performance. …show more content…

Manufacturing excellence, therefore, should be another goal that Norwalk need to substation at an internal business perspective. Managers should check on the number new products released,

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number of products in development, number of products in testing, and number of products under review for government approval to measure and consistently check on manufacturing excellence. Innovation & Learning Perspective
Intense global competition ends up requiring that companies make continual improvements to existing products and processes. The Innovation and Learning perspective focuses on companies’ ability to innovate, improve, and learn, which ties directly to the company’s value. Norwalk’s success in the past depended on a steady stream of attractive, popular products. However, recently generic manufacturers have flooded the market with similar products, resulting in lower sales by distributors. Norwalk’s long-term success is depended on the level of promotion by these distributors and their comments about future consumer needs. So we Norwalk’s innovation and learning perspective goals should focus on their technology leadership and new applications.
The first is the ability to develop and introduce products that provide real customer benefits, which can be measured by the number of new compounds created with specific active properties that their scientists are trying to create with new bioengineering techniques. In addition, number of synthesized

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