General Dynamics Balanced Scorecard
General Dynamics Balanced Scorecard
Executive Summary
“General Dynamics is one of the market leaders in business aviation, combat vehicles, weapon systems and munitions; ship building and marine systems; and mission-critical information systems and technology (Corporate Overview, 2012).” In 2012, General Dynamic’s revenue has expanded from $4 billion to over $32 billion and the workforce has steadily increased from 29,000 to over 95,000 employees. Currently General Dynamics consist of the following four division Aerospace, Combat systems, Information Systems and Technology, and Marine Systems.
This presentation provides insight to how I would build a balance scorecard and strategy map for General Dynamics. My research and findings clearly demonstrate how implementing the balance scorecard with several basic perspective of strategy will achieve a common goal:
Financial Perspective
Customer Perspective
Internal Process Perspective
Learning and Growth Perspective
These findings will help General Dynamics emphasize what is important about the need for a balanced scorecard. There are six strategic goals of a balanced scorecard that will assist General Dynamics:
Focus on the drivers of business
The cause and effect of stress
Unites the company
Leading and lagging measuring indicators
Institutes a business strategy map
Uses a metrics for targets and performance evaluations
General Dynamics Strategic Vision:
General Dynamics is a multi-billion dollar defense-related business supporting the United States Government. General Dynamic’s strategic vision is to deliver highly capable, relevant and affordable products and services to our customers (General Dynamics Corporate Overview, 2013). “General Dynamics focuses on creating shareholder value while delivering superior products and services to military, other government and commercial customers. The company emphasizes excellence in program management and continual improvement in all of its operations (General Corporate Vision Statement, 2013).”
General Dynamics Problem:
General Dynamics has attempted to make several acquisitions and maintain a focused customer service operation, which has contributed to lackluster performance. This strategy was unfocused and failed, leading to poor financial performance. Due to Congress inability to pass a budget, the mandated Budget Control Act of 2011 (BCA),