A product or service is given a proposition in terms of its worth given by a customer.There are diferent factors that lay the ground work for increased ‘Customer value’ and ‘Product Value’. Most businesses generate profits when the customers give a certainvalue to the service and/or product. This could involve many attributes to consider.World Class Lighting chose to focus on customer satisfaction with the balanced scorecard that was implemented. it shows that World Class Lighting excelledin customer service in various ways measured by the balanced scorecard. This outputfrom the balanced scorecard shows that there is a signifcant value proposition and acontinued need to focus in this area.
The Balanced Scorecard is thought of as an innovative strategic management tool forperformance measurement. This innovative performance measurement approach has apurpose of considering the total intangible or soft factors that had previously beenconsidered as immeasurable, and as such, of little value.
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