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National City Corporation’s Vision and Mission Statement inspired by the Balanced Score Card:

The recommendations will begin with a newly articulated vision and mission statement for National City Corporation’s future. The new vision is created by using principles discussed in the Balanced Score Card. The Balanced Scorecard will help management measure whether operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy. The Balanced Scorecard groups performance measures in general categories (perspectives). These perspectives should aid in the gathering and selecting appropriate performance measures for National City. Four general perspectives have been proposed by the Balanced Scorecard:

• Financial perspective;

• Customer perspective;

• Internal process perspective;

• Learning and growth perspective.

The financial perspective examines if the NCC’s implementation and execution of its strategy are contributing to the bottom-line improvement of the company. It represents the long-term strategic objectives of the organization and thus it incorporates the tangible outcomes of the strategy in traditional financial terms. The three possible stages as described by Kaplan and Norton (1996) are rapid growth, sustain and harvest. Financial objectives and measures for the growth stage are integral to NCC’s recommended strategy. The measurements should stem from the development and growth of the organization which will lead to increased sales volumes, acquisition of new customers, growth in revenues etc. Some of the most common financial measures that are incorporated in the financial perspective are EVA, revenue growth, costs, profit margins, cash flow, net operating income etc. Other measures include:

Financial

• Cash flow

• ROI

• Financial Result

• Return on capital employed

• Return on equity

The customer perspective defines the value proposition NCC will apply in order to satisfy its customers and thus generate more sales to the most desired (i.e. the most profitable) customer groups. The measures that are selected for the customer perspective should measure both the value that is delivered to the customer (value position) which may involve time, quality, performance and service and cost and the outcomes that come as a result of this value proposition (e.g., customer satisfaction, market share). The value proposition can be centered on one of the three: operational excellence, customer intimacy or product leadership, while maintaining threshold levels at the other two. Other measures include:

Customer

• Customer satisfaction rate

• Customer retention

The internal process perspective is concerned with the processes that create and deliver the customer value proposition. It focuses on all the activities and key processes required in order for the company to excel at providing the value expected by the customers both productively and efficiently. These can include both short-term and long-term objectives as well as incorporating innovative process development in order to stimulate improvement for NCC. In order to identify the measures that correspond to the internal process perspective, Kaplan and Norton propose using certain clusters that group similar value creating processes in an organization. The clusters for the internal process perspective are operations management (by improving asset utilization,