Strategic Management and Balance Scorecard Assignment
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Added on 2019-09-18
Strategic Management and Balance Scorecard Assignment
Added on 2019-09-18
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Running Head: Balance ScorecardStrategic ManagementBalance Scorecard
Balance Scorecard1IntroductionPhillips is considered as a Dutch technology organization whose headquarter is situated in Amsterdam. It mainly focuses on the production of electronics, lighting and healthcare. It was established by Gerard Philips and Frederik in 1891. It is considered as one of the largest electronic organization in the world. In this paper, we will study about the different key performance indicators of Phillips in several areas. This will provide us with a glimpse of the strategic performance of the organization. Philips employs more than 100,000 people across more than 50 countries. The organization is specially organized into three different sections such as Phillips lighting, Philips healthcare and Philips Medical. The organization is considered a large manufacturer of lighting items and earns large revenue than other existing lighting organizations. During 2012, Phillips was considered the largest producer of lighting goods. The organization is known for its high quality of products. With the high quality, the organization places itself in the eyes of its target customers. Due to this they become brand loyal and prefer only the products produced by Phillips. The organization produce different types of products such as Philips Radio, Stirling engine, bulbs, tube lights, and shavers (Hitt, 2012). A large variety of the products facilitates the organization in capturing a huge market size so that it can offer products to a large number of customers.Strategy and Value PropositionThe strategic objective of the organization is to improve the lifestyle of individuals by providing them innovative products and services. Innovation is the core base of every activity of Philips. It identifies and understands the global trends and challenges facing the individuals in their daily lives. It ensures that aspirations and needs of individuals remain at the heart of its innovation
Balance Scorecard2endeavors. With its innovative steps, the organization wants to make the whole world sustainableand healthier (Rothaermel, 2015). The organization wants to provide a suitable place to individuals where they can share their passion.The organization takes a systematic approach to creating its value proposition. The organization delivers value to its customers with the help of following aspects:Intellectual: The organization mainly utilizes design and innovation experts who facilitateeffective establishment of new products and solutions that fulfill local customers’ requirements.Manufacturing: The organization significantly applies Lean techniques to produce innovative goods.Human: The organization mainly hire talented and diverse individuals and provide them proper training and skills which they require to perform different functions (Danaei, 2014).Product LeadershipIt is considered as the leader of a market in manufacturing lighting products. The organization achieved product leadership by following below-mentioned points:Innovate in LED products technologically and commercially to grow in the existing market.Utilization of Accelerate program to improve the operational excellence in organization.Capture different adjacent value with the help of new business models and services.
Balance Scorecard3Cost LeadershipIn order to survive in a competitive market, the organization decided to keep its pricing policies straightforward and simple. The management of the organization mainly decided not to compromise with its high quality even if some products are higher priced than its competitors. But, basically, the organization utilizes a competitive pricing strategy for its products which enable the organization to provide goods at reasonable cost.Specific KPI's related to strategy and value propositionThe following are the Key performance indicators of Phillips:Group Strategy: The organization ensures that it clearly defined its business strategies and efficiently allocates its resources to enhance value creation.Caps: It focuses more on leverage and strengthens its main capabilities, positions and assets. Technological innovation trusted brand feature, and deep customer insights help an organization in creating differential value (Parmenter, 2015).Excellence: It applies basic operating practices and principles to deliver excellence services to its products.Organization ArchitectureThe architecture of Phillips is diligent t bringing its nationally acclaimed design to every project while fulfilling the needs of the desired budget. From 1989 the organization has offered commercial and architectural interior services for ground up, tenant space planning, addition, or alteration projects. The architecture of the organization mainly includes schematic design, décor
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