A balanced scorecard is a useful tool in business as it helps align a company’s goals with the visions and mission. It also helps in prioritizing business activities thus reducing inefficiencies that may be caused by delays. The balanced scorecard is also helpful as a tool for monitoring success of companies. In the current scenario, there are important insights that the team members can get from the balanced scorecard and communication plan prepared. Based on the presented work, there are important aspects that the team members can incorporate into the draft to make it more presentable.
To increase the shareholder value, the team may use other strategies such as product differentiation to make sure that the customers recognize them. The impact of this strategy s increased sales volume and profitability, leading to a rise in shareholder value. On customer value, the team may consider increasing the product line of the soap to meet the demands of all clients. There are important lessons that the team can learn from the balanced scorecard, especially relating to customer value. The value of the product greatly influences customer loyalty thus increasing the market share of the company. A large market share is among the factors that enhance the competitive advantage of companies thus leading to increased profitability. Customer value results from the quality of products and services provided, which in turn is determined by the level of expertise of the employees. It is thus evident that for a company to maximize its returns, it must invest in employee career growth and development to ensure that the workforce is well equipped to provide the expected services.