Boeing Company’s Balanced Scorecard and Strategy

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The article considered for this paper is titled, “Using the Balanced Scorecard as a Strategic Management System” by Robert S. Kaplan and David P. Norton. The primary focus of the article is on the Balanced Scorecard which was developed and proposed by the authors in 1992. In this paper, the balanced scorecard of Boeing has been implemented. The following balanced scorecard is prepared by considering the financial performance of the company and its strategic objectives set out in its annual report. The balanced scorecard can provide a unique way of setting objectives and a roadmap for achieving them. These objectives are mainly non-financial and assist companies to make strategies for the next periods. The balanced scorecard is easy to understand, and the information provided in the model is categorized into four dimensions including customers, internal business processes, learning, and growth. The company’s vision statement is “Connect, Protect, Explore and Inspire the World though Aerospace Innovation.”

Financial Perspective
Objectives Measures Targets Initiatives
Improve financial performance of the company in the coming period Increase the liquidity of the company Improve liquidity by 10% Invest in design, manufacturing, and development.
Increase the company’s shareholders’ value Increase ROCE and ROE Increase ROCE and ROE by 20%. Speed up the innovation process.
Make new sales contracts with customers and increase the number of orders.
Reduce the operational cost and expenses to increase the profit margin of the company.
It should ensure that the company’s shareholders receive high dividend pay-out and capital gain from the increase in its share price.
Internal Perspective
Objectives Measures Targets Initiatives
Improve the level of quality of its products and safety Reduce waste and improve operational efficiency Reduce the company’s waste by 15% Investment in R&D and design improvement.
Develop new teams and bring in new talent from the aviation industry to ensure that the company can meet its competition.
Ensure time delivery of orders Increase the number of sales Achieve 85% efficiency by time deliveries. Improving technology.
Ensuring operational effectiveness by introducing new and better systems to control loss and waste.
Integrating the company’s IT systems with suppliers to ensure that the company receives its required resources on time.
Customers’ Perspective
Objectives Measures Targets Initiatives
Ensure continuous improvement and development. Improving the use of technology and the quality of aircraft to be built by the company. Improve the value of the quality index by 15%. Increase the effectiveness of its Enterprise Resource Planning (ERP).
Improve relationships with customers Achieve a higher satisfaction level of customers Increase the number of orders by 50% by 2025.
Improve the level of customers’ feedback by 10%.		 Increase the number of sales.
Ensuring that customers are satisfied and provide positive feedbacks.
Improvement of relationships with suppliers Achieve a higher satisfaction level of suppliers and increase their participation
Learning and Growth
Objectives Measures Targets Initiatives
Achieving effective supply chain management Developing new technology and safety instruments Integrating the company’s ERP with suppliers’ systems to ensure timely delivery of inventories.
Reducing inventory loss by controlling and managing warehouse effectively.
On-time deliveries Increase the number of plane orders Achieving 85% efficiency related to timely deliveries of aircraft, Coordinate with customers promptly and increase communication with them.
Ensure that their requirements are fully understood and included in the development process.
Establishing and developing long-term employee relationships Integration of different divisions of the company Increase the productivity of employees by 10%. Improving diversity and inclusion of employees with different backgrounds, knowledge, and experience.
Improving team management and communication with the organization.
Establishing and developing long-term supplier relationships Integration of the company’s system with suppliers Reduce delays in ordering and shipment by 5%. Developing effective relationships with suppliers.
Integrating the company’s systems with those of suppliers to speed up the ordering and delivery.
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