Balanced Score Card Pantaloon Retail LimitedThe balanced scorecard is a model of business performance evaluation thatbalances measures of financial performance, internal operations, innovation andlearning, and customer satisfaction. If an organization is to remain viable in achanging and ever more competitive business environment, its managers need tocontinually ask the questions emphasized in the balanced scorecard.It is aframework that helps organizations translates strategy into operational objectivesthat drive both behavior and performance..Pantaloon Retail ltd’s BSC: with the vision of the company to achieve the25%growth on both sales and profit terms and with the vision in mind, BSCcreated on these four parameters:Financial PerspectiveCustomer Perspective,Internal Operation Perspective andInnovation/Learning PerspectiveBalance score card is a comprehensive performance measurement tool that reflectsall the measures critical for the success of the firm’s strategy.It’s a performance report based on a broad set of both financial and non financialmeasures. Customer value creation in turn drives financial performance andprofitability
2. Sales growth 30% CUSTOMER PERSPECTIVE GoalsCustomer SatisfactionAfter Sale services to retain customerMarket Penetration MeasuresCustomer retunes and complaints.Customer satisfaction surveys.Coverage and strength of distribution channel. Internal Operation Perspective: GoalsReduce Number of defects, amount of rework, number of returns.Increase machine efficiency. MeasuresInnovations and Research & DevelopmentTraining to employees
Innovation and Learning Perspective GoalsIncrease Number of new apparel designs.Increase R & D output success rate.Employee turnover, number of complaints.Employee satisfaction and retention. MeasuresIncrease Number of training hours.Introduce New TechnologyEmployee Welfare SUMMARYThis Balance score card will help Pantaloon retail to increase the knowledge skillsand systems that employees will need (learning and growth) to innovate build andadopt the right strategic capabilities and efficiencies (internal process) that deliversdesired value to the market (customer) which will eventually lead to theaccumulation of shareholders wealth.