STEEPLE and Balance Scorecard
Kevin Jackson
MKT 598
April 27, 2014
Anthony Bretti, Instructor
When a firm uses an external consultant to solve a problem or evaluate an opportunity the consultant can use STEEPLE (social, technological, economic, environmental, legal, and ethical), which is a preliminary analysis technique to answer why the business organization or systems exist (Wickham, & Wickham, 2008, p. 128). This analysis the consultant preforms helps to determine how the firm business fits in its external environment. The consultant can also use the balances scorecard to measure the financial and non-financial performance of the firm. The consultant will use the STEEPLE and Balance…show more content… In addition, this technique gives the usable data for the organization to take appropriate business actions, provides feedback to the internal business processes and the external outcomes to improve the firms strategic performance. According to the article “Using the Balance Scorecard,” written by Kaplan and Norton (1996), (pp. 75-85) the balance scorecard has four perspectives of:
Financial Perspectives- Phillip-Morris must balance its business functions which as been allocated across the organization. If the Phillip-Morris decides to increase its economic growth it can do this through a productivity strategy. Phillip-Morris can lower the direct and indirect expense to improve cost, or reduce working and fixed capital to utilize its assets to support the business
Customer Perspectives- The value proposition of the customer is the mix of products, price, service, relationship, and Phillip-Morris image. With this perspective Phillip-Morris will have to take on its competition. The company will have to differentiate its value proposition. Phillip-Morris can do this by selecting different operational excellence, customer intimacy, and product leadership.
Business Process Perspectives-This matric allows management to understand how efficiently the organization is performing. It also helps Phillip-Morris to understand if its products or services is meeting the customers needs. In addition, this perspective makes sure that
