Balance Scorecard of Ford Motors
I have a lot of critical success factors to evaluate the Ford Motors goals and ensure that it gets accomplished. Some of standards are financial and others are non-financial and some of them are quantitative and others qualitative in nature. I have judged the performance goals with at least these three standards; 2.1 Profitability and Growth:
Profitability is vital to success for Ford Motors. A profitable business pays interest to lenders, tax to authority and dividend to shareholders and bonuses to employees in time. It helps in satisfying all the stakeholders of FM. A profitable FM creates more opportunity for growth and a growing FM will generate further profit to satisfy the stakeholders. So, this …show more content…
It is a tool as a mean of translating mission and strategy into objectives and measure into four different perspectives.
Benchmarking is the second most attractive option but its focus only externally and it is just a catch up exercise. The goal to become a market leader is not achieved by following the practice of others i.e. General motors. Dashboard is also attractive option but it is not comprehensive tool but just to support the Balance Scorecard.
5. Application of Balance Scorecard: 6.8 Performance Gap of Ford Motors:
Because our goal is to become a market leader we take General Motors figures as organizational goal. This analysis will help to identify the gaps that I have needed to bridge to made Ford Motors as a real leader in automobile market.
Aspect of Company performance | Factors to be considered | Organizational Goal (G.M) | Actual Result | Gaps | Financial | Change in profit from 2010 Change in Earnings per share from 2010Change in revenue from 2010 | 48.9%58.5%10.8% | 208.1%197.6%5.7% | Profit has increased by 160% more than the FM goal.Earnings Per Share has increased 140% more than expected.Change in revenue dropped by 5 % | Customer | Customer Satisfaction RateDealer satisfaction | 85%85% | 68%85% | Customer satisfaction is lower than expected by 17%.Dealer satisfaction is on the board. | Internal Processes | Fuel economy (miles per gallon) 2011CO2 Emission (grams per mile) 2011 | 23.8300