Objectives and Strategies
|
Sr No |
Objective |
Strategy |
Performance Measures |
|||
|
Financial |
Customers |
Internal business process |
Learning and growth |
|||
|
1 |
To provide sustainable returns to stakeholders |
Investment Grade rating scale Top third comparable companies |
Return on equity Achieved cost reduction |
Repetitive purchases Number of products purchased Market share of goods |
Goods sold Number of products returned |
Stakeholder satisfaction survey Improvements to stakeholders facilities |
|
2 |
To reduce greenhouse gas intensity of the customer energy consumption |
Increase sale of low carbon emitting products Leading provider of green energy products |
Cost per product Achieved emission reduction |
Repetitive purchases Number of green predicts purchased |
Green products produced Energy saved while production |
Improvement made to the environment Time spent making environmental friendly products |
|
3 |
To maintain community support and good will for the company activities |
Lead industry policy on access and hardship response Resolve customer complaints Actively consult community at various locations Achieve positive community relationships through regular an transparent communications with host communities |
Economic value added to the products Amount of money spent on consumer training Number of consumer meets organized Number of employees trained for transparent communication |
Consumer feedback taken Consumer meets organized Consumer complaints being solved Consumer communicated with by the firm (Reefke & Trocchi, 2013). |
Improved operations of the business Product defects Meeting organization Location for meet set up |
Number of communities participating in the given program Number of communities who are satisfied Number of communities who are not satisfied |
|
4 |
To take all feasible steps to eliminate or minimize any adverse impact that might have an impact on the various activities of the environment |
Identify opportunities for reduction and re-sue of waste Look out for opportunities to offset the land which has been disturbed (Bhattacharya et al., 2014) |
Cost spent on the opportunities identification. Tons of waste generated Amount of land being disturbed Money spent on identification of opportunities |
Customer purchases that lead to waste and pollution Number of customers who are environmental conscious Number of customers being involved in the re-use activities |
Number of employees trained for the reduction of waste Number of processes changed for the re-use activities Number of activities conducted for the purpose of awareness |
Survey on improvement made to the lands Improvement made to the reduction of waste Improvement made in concern with the re-use opportunities |
|
5 |
To reduce the greenhouse gas intensity of the energy production and distribution and non-producing assets |
Contributing to a policy so that responds to climate change And delivers an efficient pricing regime for carbon Reduce the greenhouse gas emission intensity of the electricity supply chain to less than 10% by 2020 Reduce the greenhouse gas emission intensity of the gas production Offset or reduce all greenhouse gas emissions from non-energy producing sites using green power and carbon offsets Embed leadership in all training and decisioning procedures |
Cost spent on Green Power Costs spent on Carbon offsets Costs spent on awareness Costs spent on the modern technology on emission reduction Costs reduced to usage of eco-friendly technology Costs regarding training of managers Costs included in leadership programs |
Customers adoption to the fine new products Number of customers who took up the new system Number of customers who were satisfied Increase in sales (Propa, Banwet & Goswami, 2015). Increase in customer participation Increase in stakeholder support Increase in better services to the customers |
Number of employees involved in the given movement Employees trained to produce least waste Employees trained to reduce emission Internal processes altered to incorporate the change Better managerial activities in the organization |
Improvement to the society Improvement to the image of the firm Improvement to customer satisfaction Improvement to the emission limit Improvement to overall contribution to the environment Improvement in the managerial aspects of the different employees Improvement in overall communication of the organization |
|
6 |
To eliminate or manage hazards and practices in the business that cause accident, injury or in that case illness to the people or damage to the property including unacceptable impacts on the environment |
Achieve a Total Recordable Incident Frequency Rate |
Cost of the Hazard programs to be implemented Costs Saved through implementation of the environmental programs Costs saved due to lack of injury and damage |
Better services provided Increase in customer satisfaction Increase in the sales Increase in profits Increase in unit sold (Originenergy.com.au, 2018). |
Reduction in number of accidents and damaged caused Increased satisfaction of the employees Increased safety |
Improvement in operations of the organization Improvement in the processes Improve impacts on the environment Increased improved on the employee satisfaction |
|
7 |
To provide and maintain a rewarding and satisfying work environment for all the employees |
Recommendation of the workplace outside of the organization Eliminating barriers to employment and development of workforce opportunities to respect diversity (Fürst et al., 2014) Encourage and recognize the employee led sustainable initiatives |
Increased sales Reduced employee turnover Reduced recruitment costs Increased sales Increased profits |
Increased customer satisfaction Increased customer interactions Better communication with the given employees and the customers |
Improved operations Increase in conservation of raw materials Reduced wastage |
Better programs for the employees Better work environment Increased customer satisfaction Increased employee satisfaction |
After analyzing the reports of the company, it was observed that there does exist a need to add another perspective to the given balanced scorecard analysis of the company. However, the judgment of the kind of perspective which needs to be added depends on the company (Ibrahim, 2015). The Balanced Scorecard approach is designed in a manner such that the customer, internal business process, learning and growth perspectives can be easily analyzed as the given perspectives are cascaded from the financial perspectives itself which reflect the effects and causes of the financial outcomes (Salinas et al., 2015).
If a situation arises whereby the cause and the effect approach is implemented rigorously then, a new perspective may be needed in order to analyze the non market impacts or the damage caused to the environment. Hence, it is suggested that a fifth component labelled as Sustainability may be added to the Balanced Scorecard approach which helps in effective understanding of the sustainability aspect pf the business enterprise (Nzuve & Nyaega, 2013). Adding a sustainability aspect will go a long way in helping the organization to analyze the sustainable impacts of its business operations and through this the company Origin Energy will be able to function effectively. Through this the use of the significant resources associated with sustainability can be incorporated in the strategies.
References
Bhattacharya, A., Mohapatra, P., Kumar, V., Dey, P. K., Brady, M., Tiwari, M. K., & Nudurupati, S. S. (2014). Green supply chain performance measurement using fuzzy ANP-based balanced scorecard: a collaborative decision-making approach. Production Planning & Control, 25(8), 698-714.
Fürst, C., Opdam, P., Inostroza, L., & Luque, S. (2014). Evaluating the role of ecosystem services in participatory land use planning: proposing a balanced score card. Landscape ecology, 29(8), 1435-1446.
Ibrahim, M. (2015). Investigating the use of the four perspectives of balanced score card (BSC) as technique for assessing performance by Nigerian banks. Journal of accounting and taxation, 7(4), 62.
Nzuve, S., & Nyaega, G. (2013). Application of balanced scorecard in performance measurement at Essar Telecom Kenya limited.
Originenergy.com.au. (2018). Retrieved from https://www.originenergy.com.au › … › Investors & media › Reports & Presentations
Propa, G., Banwet, D. K., & Goswami, K. K. (2015). Sustainable Operation Management Using the Balanced Score Card as a Strategic Tool-A Research Summary. Procedia-Social and Behavioral Sciences, 189, 133-143.
Reefke, H., & Trocchi, M. (2013). Balanced scorecard for sustainable supply chains: design and development guidelines. International Journal of Productivity and Performance Management, 62(8), 805-826.
Salinas, M., López-Garrigós, M., Flores, E., Santo-Quiles, A., Gutierrez, M., Lugo, J., … & Leiva-Salinas, C. (2015). Ten years of preanalytical monitoring and control: Synthetic Balanced Score Card Indicator. Biochemia medica: Biochemia medica, 25(1), 49-56.
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