Learning and Growth Perspective
The application of the learning as well as growth perspective by Susan Johnson, the president of Futura Industries has been responsible for the success of the enterprise as the main focus is towards customer service, the internal as well as financial operations of the enterprise. The revenue has been documented to increase by 50% while retaining the original level of the personnel but rather prioritizing on the people factor of the business organization. The employees of the company are responsible for creation of the difference in this company relative to other companies, with a preference for great people at the expense of great machines.
It is to the best opinion of Johnson that the processes of learning, innovation as well as growth are the most crucial parameters of application in the scorecard since respected, trustworthy as well as challenged individuals are the backbone of success in the enterprise. Each worker adds up to the success of the company and the customer
The process of hiring as well as retention of the workforce that is devoted to the customers is a pillar of success of the company.
The competencies of the employees are improved, in a safe, enjoyable as well as challenging workplace. The measurements are based on the turnover with the basic intention of considerable decrease in this parameter. The workplace at Futura is a well balanced and healthy with the treatment of the employees at individual capacity as members of one family and community (Gumbus & Johnson, 2003).
Friendly initiative surveys, birthday reviews, training matrix personal development and performance on annual basis a swell as leadership surveys are the programs that are conducted for the purpose of the determination of the balanced scorecard. Initiatives of the identification of the best models to improve the status of the company as a better employer of the future are determined through conducting surveys, the result of which are followed up and acted upon in the right manner (Kaplan & David, 2002).
Performance as well as certification review are conducted on regular basis to form the foundation for promotion, compensation as well as progressing the future career of the employees. This essentially protects the company from layoffs which is an expensive exercise in a tough business economy. There exists some training matrix for the purpose of certification levels for the purpose of the advancement of the employee at Futura. The compensation processes as well as the performance appraisal are based on the training matrix in Futura. Similarly the leaders as well as the employees apply maturity profile for the purposes of the determination of their compatibility that determines the success of the company. Learning and Growth Perspective the annual performance as well as the review of the personal development is important for the purpose of the development of the talents of the workforce, hence reducing talent turnover for the interest of the company (Kaplan & David, 1992).
The application in the scorecard of the principles of learning, the capacity for innovation as well as the growth dimension is of positive contribution to the success of the business at Futura. Through the process of monitoring of the company’s balanced scorecard, in line with the adjustments of the skills of the employees, and prioritizing on the potential changes, the balanced scorecard assumes the potentials for change for the benefit of the progress of the company. This approach is responsible for the development of well motivated with the ability to work in a challenging environment with minimum supervision.
Gumbus, A. & Johnson, S.D. (2003). The Balanced Scorecard at Futura Industries. Strategic Finance, 85(1), 36-42.
Kaplan, S. & David, P. (1992). The Balanced Scorecard and the Measures of Performance. Harvard Business Review 70(1) 71-79.
Kaplan, Robert. S. & Norton, David. P. (2001) .Strategic Focused Organization. How Balancescore Companies in new Business Environment. Boston: Harvard Business Sch. Press.
Cite this Learning and Growth Perspective
Learning and Growth Perspective. (2017, Feb 05). Retrieved from https://graduateway.com/learning-and-growth-perspective/