Performance measures

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

 

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