Maintain Solid Financial Growth
- Increase gross revenue by at least 15% per year.
- Increase overall profit by at least 3% per year.
Increase Market Share
- Achieve/maintain #1 market share in at least one product line per division.
- Increase market share through acquisitions/mergers where appropriate.
- Introduce at least one new product per year in each division.
- Implement an integrated ERP solution to integrate sales and inventory tracking with cost accounting.
- Leverage new integrated ERP solution to integrate sales and inventory tracking with cost accounting.
- Open Boston Sales Office.
- Open Boston manufacturing and distribution center.
Increase Product Competitiveness
- Reduce defects in consumer and industrial divisions to less than 0.3%
- Reduce defects in aerospace division to less than 0.1%
- Maintain at least a 95% customer satisfaction rating for consumer/industrial products.
- Reduce average product time-to-market by 8% annually next three years
Promote Organizational Excellence
- Increase employee satisfaction survey ratings by at least 6% annually next three years.
- Lower employee turnover in manufacturing plants by at least 10% in the next two years.
- Increase participation in employee school tuition program by at least 5% annually.
- Single corporate-wide communications network by mid-2015
Balanced Scorecard Perspectives and Objectives
2012 Balanced Scorecard
| Area | Sponsor | Objective | Target | Wt. | 1Q | 2Q | 3Q | 4Q |
| Financial Growth | Jarvis | Increase gross revenue | 15% increase per year | 60 | ||||
| Gorman | Overall Profit | 3% increase per year | 40 | |||||
| Customer Satisfaction | Johansen | Satisfaction for consumer/ industrial products | Maintain 95% | 70 | ||||
| Linder | Reduce defects in consumer and industrial division | Less than 0.3% | 10 | |||||
| Carlson | Reduce defects in aerospace division | Less than 0.1% | 20 | |||||
| Internal Business Processes | Smith | Maintain #1 market share in at least one product line per division | #1 Market share | 20 | ||||
| Clark | Increase market share through mergers/acquisitions where appropriate | CP – 10% MP – 100% | 10 | |||||
| Thompson | Introduce at least one new product per year in each division | One each division | 30 | |||||
| Carter | Reduce average product time-to-market | 8% annual reduction | 20 | |||||
| Young | Implement an integrated ERP solution to integrate sales and inventory tracking with cost accounting by 2008 | 1 module every 6 mos. | 20 | |||||
| Learning & Growth | Jenkins | Increase employee satisfaction survey ratings | 6% annual increase | 30 | ||||
| Jacobs | Increase participation in employee school tuition program | 5% annual increase | 20 | |||||
| Stanley | Lower employee turnover in manufacturing plants | 10% annual reduction | 40 | |||||
| Young | Single corporate-wide communications network by mid-2015 | Mid 2015 | 10 |