Measures of performance at Zenon Medical Instruments Company

Financial Perspective

BSC financial perspective of the company assesses the extent of the current strategy to improve the bottom-line performance. For company, residing on the sustain stage of its life cycle, and based on the related objectives, I would recommend as one of the measures evaluating the effectiveness to manage organizational operations and costs Economic Value Added (EVA) (Wikipedia, 2008).

Customer Perspective

Customer perspective addresses the customer perception of the services to satisfy their needs in the acquired product, with minimum response time and suitable quality (NetMBA, 2007). Based on the proposed measures, the most important assessment metrics would be a level of customer satisfaction, based on the processed outcomes of the distributed customer satisfaction surveys.

Internal Processes Perspective (Innovation Cluster)

Innovations segment of the internal processes perspective reviews company’s ability to constantly enhance the current products and develop new products and services to capture highest market share, improving customer satisfaction and adding more value to the shareholders. One of the measurements of the company effectiveness from this perspective is percent of sales from the new products (Gumbus & Johnson, 2003).

Internal Process Perspective (Operations Management Cluster)

Operations management segment of the internal processes perspective focuses on improvements for the ongoing operational activities to deliver the product on time, with the highest quality, and with the most effective utilization of assets and human resources. One of the effective measurements for this metrics is assets utilization efficiency (Wikipedia, 2008).

References

Gumbus, A. & Lussier, R.N. (2006, July). Entrepreneurs use a balanced scorecard to translate strategy into performance measures. Journal of Small Business Management, 44(3), pp. 407-426.

Prosatis (2003, November 16). Benefits from using the Balanced Scorecard. Retrieved May 1, 2008, from http://www.thebalancedscorecard.com/

Horngren, C. T., Sundem, G. L., & Stratton, W. O. (2002). Introduction to Management Accounting. Upper Saddle River, NJ: Prentice Hall, pp. 351-391.

NetMBA (2007). The balanced scorecard. Retrieved May 5, 2008, from http://www.netmba.com/accounting/mgmt/balanced-scorecard/

Wikipedia (2008). Balanced Scorecard. Retrieved April 30, 2008, from http://en.wikipedia.org/wiki/Balanced_scorecard