Balanced Scorecard

Posted by Donna White on July 20th, 2022

Introduction

The balanced scorecard is one of the metrics used by businesses to measure their performance. It evaluates four important elements of an organization, which include financial results, customers, human resources, and sustainability. Companies usually use the balanced scorecard to outline their strategic plan for the future. Google also uses it to evaluate its performance internally as well as several other projects. This paper will evaluate Google docs plagiarism checker based on the above four elements.

Financial Results

Since Google is a multi-national and multi-product company, the critical success factor for it in the financial area is to increase its net revenue and profit. This is crucial as the company, over the years, has continued and is still expanding its operations and venturing into new markets. The rationale for this success factor is making the shareholders happy because Google has raised significant capital from them and they ought to see a return on their investment. The key performance indicators for measuring the success of the company’s financial goals include operating margins, revenue growth, price-to-sales ratio, price-to-earnings ratio, and debt-to-equity ratio. All these indicators establish whether the company is making any profits and revenues as it engages in its daily operations. The vice president of finance is in charge of ensuring that all the financial goals have been attained.

Customers

Customers are an essential part of any business. They contribute significantly to the success of the company. The critical success factor for Google concerning its customers involves increasing the customers base through raising the number of searches a day and focusing on improving the overall Internet experience for the users. Additionally, the company should focus on retaining its customers by promoting the use of all its products across all the fields it has invested in. The rationale for this critical success factor is to improve customers' perception of the corporation. The key performance indicator for measuring Google’s success factor concerning customers is their users' retention capability as it looks at their active daily and monthly users. The Vice president of customer relations is responsible for ensuring that all the company’s goals regarding acquisition and retention of users are met.

Human Resources

The high success rate of Google can be attributed to the high quality of human resources. Google encourages excellence and smartness in the company. The corporation has a well developed human resources strategy, which they use in recruiting new employees. The critical success factor of Google regarding human resources is improving the human resources management by focusing on employee's talent and rewarding accordingly. The rationale for this crucial factor is to be able to attract more talented individuals to join the company. Consequently, the key performance indicators to measure Google’s human resources management is employee satisfaction, the cost of the training and development of employees, employee turnover rate, time required to hire and, lastly, the length of the period an employee has worked at Google. The duties of the vice president of human resources management include ensuring the company’s human resources goals are met.

Sustainability

Every organization has plans to ensure it sustains its operations as it continues innovating its processes and services. The critical success factors for the company in ensuring the sustainability of the business include increasing the overall response time and enhancing the databases, especially for search. The rationale for these critical success factors is creating an environment that supports change. The key performance indicators to measure the indicators is applying the global reporting initiative framework. Lastly, the vice president of operation ensures that the company sustainability goals are attained.