Balanced Scorecard Implementation at Philips |
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Introduction Contd...The top management, and all the divisions identified the factors that were important to create value and they were grouped under four perspectives - competence, process, customers and financial. After establishing the 'Critical Success Factors' (CSFs), key indicators to measure the CSFs were decided. Some of the indicators like achieving revenue growth, employee satisfaction, customer satisfaction were common for all the business units while other indicators differed.
By the early 1900s, Gerard's company had emerged as one of the largest producers and marketers of carbon-filament lamps. Philips laid strong emphasis on research right from its inception. Before the start of the First World War, the company had established marketing companies in the US and France.
2] Philips, Annual Report, 1999. |
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