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Chadwick a Balanced Scorecard

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Chadwick, Inc. needs to focus its business strategy by first addressing the following questions: How do customers see us? What must we excel at? Can we continue to improve and create value? How do we look to shareholders? The Balanced Scorecard is a set of measures that gives top management a fast but comprehensive view of the business. It details both financial and operational measures by focusing on four parameters: Innovation and Learning Perspective, Internal Business Perspective, Customer Perspective, and Financial Perspective. By adopting the Balanced Scorecard, Chadwick, Inc. will create a report that includes financial measures of results already taken together with operational measures that are the drivers of future financial performance.
Innovation and Learning Perspective
Chadwick will fulfill its company value through its ability to introduce its new products, improve operating efficiencies to generate its revenue. Well-trained employees brings value to a company, and a good training program can improve the employees’ performance. The best measurement of training is return on investment (ROI). Chadwick, Inc.'s goal is to create an increase of new drug innovation; measured by comparing after-training results to previous pre-training results, setting a benchmark at 5%.
The Research and Development department (R&D) plays a important role by getting feedback from the market, customers, and specialists. It will use the feedback to create future products to meet their customer's needs and create profits. The company should set up both short-term and long-term goal for the R&D department. The short-term goal will be measured by two different ways: the amount of new product's weight on total sales and time a product takes to be introduced to the market. New products must occupy 60% of the sales. To measure product introduction, Chadwick, Inc.…...

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