Measuring Success: Balanced Scorecard at Staffordshire University

This report provides an overview of measuring success through the application of the Balanced Scorecard (BSC), specifically in the context of Staffordshire University. It examines the key perspectives of the BSC: customer, internal business processes, learning and growth, and financial. The report highlights the importance of understanding customer demand, innovation, and operational processes. It discusses how the BSC helps organizations assess performance, set goals, and devise strategies. The customer perspective focuses on customer satisfaction, loyalty, and market differentiation. Internal business processes involve optimizing operations, teamwork, and employee abilities. The learning and growth perspective emphasizes employee development and program creativity. The financial perspective considers aspects like share price, profitability, and financial results. The report also references how the BSC can be used to achieve priorities and targets at Staffordshire University, improving performance and achieving strategic goals. The report also includes references to relevant academic literature.

The poster represents the financial and non-financial aspect of
a company which supports in making a detailed decision that
improve the performance. It entails planning ahead,
establishing goals, and devising strategies to achieve goals.
Perhaps it entails establishing the mechanisms necessary to
assess how well an organization is meeting its business needs.
Understanding customer demand, the innovation phase, the operational process,
after-sales operation, and defining evaluation criteria to meet customer expectations
are all part of the process. Internal business processes goals at Staffordshire
University relate to achieving an optimal learning process and outstanding
curriculum structure. Internal business operation objectives include developing an
effective integrated program for different degrees, revising institutional service and
committee structures, and maintaining current instruction.
Learning and growth perspective:
Employee retention, employee continuity, including employee quality are three
central evaluation metrics in this viewpoint. Human resource development;
expertise, abilities, and experience, capital, data; information technologies and
infrastructure, and operational capital; the institution's capacity to sustain
improvements required to meet the goals would all favour the Faculty. It reflects on
emerging techniques that require to be evaluated from this viewpoint, such as
teamwork, interpersonal learning, including employee abilities. Employees are
trained and educated in order to further their experience and skills, which is the
emphasis of learning and development viewpoint. In meantime, businesses must
understand how to sustain their strategic position in the industry by investing in
human resource growth. Staff morale, growth, and program creativity are all
important factors to consider at Staffordshire University.
Balance Scorecard: This is corporate management success measure for
identifying and improving different internal company roles and the external
consequences that arise from them. Organizations utilize balanced
scorecards to assess as well as provide feedbacks. Balanced scorecard
normally used to achieve priorities, measurements, projects, and targets that
arise from a company's four main functions. Companies should quickly
recognize factors that are obstructing their success and outline structural
improvements that can be monitored by potential scorecards. In this regard
following is application of Balance Scorecard in the context of Staffordshire
University, as follows:
Customer Perspective: Customer perspective corresponds to the interaction
between consumers and industries, with a focus on the desires and desires
of customers. The share price level, customer acquisitions, and customer
retention, customer loyalty, and profitability are the most important
indicators of customer's viewpoint. This is done to highlight and take
advantages of market differentiation or intrinsic outlets in order to
differentiate between rivals.
Besides that, this viewpoint was focused on ways of satisfying consumer needs.
Delivery, packaging creation, including after services are also included. It has
to do with consumer loyalty, consumer complaints, customer engagement,
cycle times, flaws, and the industry.
Maintaining the no. of degrees is extremely important at Staffordshire
University. Furthermore, by hiring more overseas students in academic sense
of public higher learning this viewpoint can indirectly raise the global presence
of the institution. Other analysts also indicated that this viewpoint would help
to establish indirect relationships with international universities while still
maintaining products and service consistency. Meanwhile, the consumer
perspective was often influenced by a student's academic or parental
background, faculty or employees, graduates, and culture.
Internal business process perspective
The satisfaction with both owners and consumers is referred to as the internal
market operation. It condenses the mechanisms involved in converting
intangible assets into financial results, which companies can improve at in an
operational strategies plan. It's being used to track all of the processes that go
into producing and running an organization.
This viewpoint is critical so the company will assess its existing internal
capabilities and react to industry demands. The BSC assists the company in
determining which internal business processes can please customers and
shareholders. The plan for improving the procedure will have a significant
effect on consumers. Even so, internal market activity refers to processes such
as post-sale support, high-demand operations, and modernization. It is
calculated in terms of innovative launch, order responsiveness, cycle time,
power usage, and technology capability, among other things.
MEASURING SUCCESS
INTRODUCTION
REFERENCES
North, K. and Kumta, G., 2018. Knowledge management: Value creation through
organizational learning. Springer.
Pedler, M. and Burgoyne, J. G., 2017. Is the learning organisation still alive?. The
Learning Organization.
Schwabenland, C., 2016. Stories, visions and values in voluntary organisations.
Routledge.