Balanced Scorecard Implementation at Philips
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Case Details:
Case Code : BSTR270
Case Length : 18 Pages
Period : 1995-2007
Pub Date : 2007
Teaching Note :Not Available
Organization : Philips
Themes: Growth Strategy |
Balanced Scorecard
Industry : Consumer Electronics
Countries : Netherlands
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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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.
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Balanced Scorecard was also used to measure corporate results. According to the company, "BEST is integrated in every business performance review cycle, providing measurement tools and focus through Business Balanced Scorecards."2
Background Note
Philips was founded in 1891 by Gerard Philips (Gerard) who established a facility at Eindhoven, a small town in the Netherlands, to produce carbon filament lamps and electrical products. Gerard's younger brother, Anton, joined the business in 1895 as a salesperson.
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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.
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In 1914, all the research efforts of the company were consolidated and brought under one organization called Philips Research Laboratories (Research Labs). In 1918, the company began manufacturing medical X-ray tubes.
In the 1920s, Philips began the mass production of consumer goods, and started to diversify its product range. X-ray radiation and radio reception were key focus areas for Philips and the company's innovations in these areas were protected through patents.
In the 1920s, Philips also began manufacturing vacuum tubes. In 1927, the company introduced its first radio... |
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