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Organizations in the contemporary world formulate strategies to propel their operations and enhance competitive edge in line with their respective core values. In order to raise organizational competitive edge in a market an organization should be in the forefront of establishing a unique approach to both internal and external issues. Futura Industries President, Susan Johnson, utilizes balanced scorecard to enhance productivity, customer satisfaction and organizational turnovers. Susan’s unique approach as resulted to the company incurring tremendous development in the recent past. Susan focuses on learning and growth as fundamental aspects toward development and accomplishments in the current competitive market.
The intangible assets of an organization are instrumental and contribute to both productivity and scope of development (Kaplan & Norton, 2004). The current era of technological development and perpetual innovation in production sectors training or learning of organizational force is evitable. Susan focuses on the understanding that learning is instrumental in propelling productivity and operations of the organization in line with the emerging technology in the industry (Gumbus & Johnson, 2003). This pays significant role in facilitating consistent development and execution of task based on cost effective production. In addition Susan focuses on organizational growth in to maximize corporation market share and exploit opportunities in various parts of the globe. Therefore, focusing on the learning and growth is pivotal in development of various sections of an organization.
Measurement of intangible assets of an organization is a challenging task to the management but its position contributes to overall competitiveness of a company. Measuring on human capital involves evaluating on organizational competencies in relation to diverse tasks. Susan measurement of learning and training involves considering the organizations position on the employees skills and register growth in a given timeframe. Considering the actual position of Futura industries workforce is the fundamental step towards identifying the competences and inadequacies of the organization. Secondly growth components are considered from two perspectives based on the actual position internally; the required inputs and competencies to accomplish organizational goals are considered in this process. Susan deployed these fundamental steps in measuring organizational position and required inputs required to transform the company in achieving its mission (Gumbus & Johnson, 2003). Competence and scope of development is the core aspect measured in evaluating human resource capital and competitiveness from this perspective. From this perspective, human capital in considered closely in relation projected growth and development in the organization. Therefore, deploying the approach on measuring human capital is integral in maintaining on enhancing competiveness of an organization.
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Notably, human capital is a diverse form of intangible asset and developing an extensive measuring method that incorporates the involved factors in is challenge. However, the above mention approach is instrumental in identifying the position of an organization based on learning and growth. The fact that an organization’s actual position indicates its innovative approach in the industry, considering a company from this perspective is integral in highlighting needs of employees training. On the other hand organizational growth is crucial and evaluating of the established trend not only highlights registered development but also position on the venture. Moreover basing results of finding based on the required output or productivity shows gap between organizational actual position and established goals either internally or externally (Niven, N.D.). On these grounds, the measures not only highlight the value of the organization based on intangible assets but also highlight inadequacies to facilitating deploying an appropriate responsive approach.
In the current competitive society competitors are imitating establishing organizational structures and operation techniques aimed at coping with increasing competition. In addition, technological development has contributed hugely in the increasing number of competitors in the industry. Intangible assets pose as the fundamental aspect that an organization can enhance competitiveness of an organization. Susan’s unique approach in utilizing balance scorecard is integral an organization in coping with competition and achieving company’s goals. The unique approach deployed in the company plays significant role in boosting competitive edge of the company. Also, the approach is paramount on molding various section of the company based on human capital.
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