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It's time for a Balanced Scorecard for the Big Three

Now that the Big Three car manufacturers have thrust the US government into the role of venture capital investor, I say it's time for a Balanced Scorecard for the Big Three. I say the US government should only part with the necessary funds once the Big Three have agreed to achieve measurable and meaningful goals in the following areas:

1) Efficiency - perhaps labor productivity as measured by the average employee hours needed to make the most popular 10 models.

2) Quality - as measured by the number of defective products returned by customers for the least popular 10 models.

3) Innovation - as measured by the number of innovative, new technology models introduced or the percentage of revenues generated from new innovation products in the next 12 months.

4) Responsiveness to customers - as measured by the number of repeat customers and level of on-time delivery to customers.

And if the Big Three achieve an acceptable level within this Balanced Scorecard, then the US government should share in this financial windfall. Period. Under these circumstances, with the government assuming a greater share of the risks, they should also share in the rewards, if successful.

I realize this is overly simplified, but shouldn't that be the point? Clearly the Big Three have not seen the more obvious warning signs up to now. Let's make it simple for them...

What do you think? Is this Balanced Scorecard a good idea for the Big Three?

December 5, 2008 in Small Business Marketing | Permalink

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