The Learning and Growth Perspective, Capstone Project Example

Introduction

‘Futura industries’ is a company located in Utah and deals with various services including machining, fabrication, extruding just to name a few. The company serves a wide range of customers in a wide market scope including retail markets in electronics, machine fixtures as well as transportation (Johnson, 2003).

According to the case, the president of this company (Susan Johnson) is fully convinced that the main thing that is differentiating the company from other extrusion industries the employees (people). Apart from great machine and great systems, the president insists that the company needs great people to enhance success through improved performance. The value of a company is actually linked to its ability to provide working environment that promotes learning, innovations and continuous improvement. The president gives priority to learning and growth perspective, as the best aspect of Balanced Scorecard more than the other perspectives, because she considers growth, learning-quadrant and innovation as the main foundation of the company from which strong, respected and trusted people are challenged to grow (Johnson, 2003).

Analysis

The company expects all its employees to play apart in improvement of performance and enhancing success through customer satisfaction. Balanced Scorecard helps the company to attain this mission by aligning and consolidating all the strategies, tactics and measures in place. ‘Futura industries’ uses Balanced Scorecard as a guideline to data capturing and representing of visual strategies and metrics of execution. The main two tools employed by the company to maintain and improve its competitive advantage in the saturated market include dedication to the customers and hiring/maintaining the best talent in the market. In order to balance the work place, the company carries out check-up programs like performance review, birthday review, leadership survey, certification and training reviews (Roos & Roos, 1997). Other programs that are employed include initiatives to enhance employee friendliness, and reviews to enhance personal development. Apart from visualizing the intellectual performance of the company in terms of growth, Balanced Scorecard also enables measuring of this growth. Periodically, the company conducts employee surveys to be able to continuously transform into a better employer. The company has also put in place other benefits such as health screenings, short-term loans and stationery materials to benefit the children of employees (Johnson, 2003).

The strategy of Birthday Review, which is normally conducted during the birthday month of an employee, facilitates evaluation of employee’s achievements and his perception on work environment and communication through an interview with a representative from HR department. The information obtained is used to make improvement and improve performance. During the interview, other aspects such as adequacy of resources and motivation are addressed for the company’s benefit. The company also ensures that the survey and interview results are put into action through a follow up form with recommendations on the actions taken so that employees can be fully aware that their concerns are being taken seriously. Annual leadership survey is also another measurement employed in evaluation of the growth and learning in the company. For instance, the queries in the survey make inquiry from employees on how the management can better their leadership skills and tactics to improve their effectiveness and efficiency in performance. This strategy also enhances employee-manager communication within the company. It also enhances respect, understanding and maintenance of productivity especially in times of constant changes in the organization (Roos & Roos, 1997).

Conclusion

I strongly think that the measures taken by the company captures full dimensions of the learning and growth perspective as explained in the background materials from this module as well as previous ones. Training of employees and the corporate cultural attitudes are the core aspects of the company’s Balanced Scorecard and this is geared towards ensuring corporate and individuals self improvement in performance. Average levels of certification in growth and learning metrics are used by the company to classify employees based on skills gained from additional training. Cultural maturity and corporate citizenship within departments are some of the factors considered by the company during annual performance review to promote employees to the next level. The cross training which occurs as a result of certification enables flexible distribution of employees based on training and certifications rather than laying them off during tough economic periods. The training matrix not only acts a guide but also helps to monitor employee progression in training (Johnson, 2003).

Evaluation

I think that Futura’s approach makes a lot of business sense and can lead to business success. First, the team leaders in the company carries out evaluation of employees based on proficiency concerning their ability to integrate into teams, corporate culture, participation, adaptability, productivity just to name a few. All this factors are geared towards enhancing employee performance and the overall success of the business. The company has stuck to its mission of placing its workers first and creating for them an environment that is safe and favorable for improved productivity and performance. This is a strategic approach that is likely to enhance performance and satisfaction of customers (Johnson, 2003).

The implementation of this approach was done well and in line with the mission, values and goals of the company. Looking at the hiring process, the company employs people who are highly qualified, and in line with the values of the company after which, it sets goals and targets for them to contribute to the success of the business, as well as improve their competencies. Customer dedication, annual reviews, surveys and interviews are a clear prove that the company implemented the approach well and up to standards (Johnson, 2003).

References

Johnson, S. D. (2003). The balanced scorecard at Futura industries. Retrieved June 18, 2008, from http://www.allbusiness.com/finance/3591611-1.html

Roos, G., & Roos, J. (1997). Measuring Your Company’s Intellectual Performance. Retrieved June 18, 2008, from http://www.som.cranfield.ac.uk/som/research/centres/cbp/downloads/GR%20-%20LRP%2097.pdf

Niven, Paul R. (2006). Balanced Scorecard: Step-by-step Maximizing Performance and Maintaining Results. Chicago: Johns Hopkins.