Using Balanced Scorecard to Measure Robotics and Automation Companies’ Performance

This paper focuses on implementation, monitoring and application of balanced score card (BSC) techniques in an organisation involved in providing robotics and automation (RAA) solutions to the diverse industrial sectors. The company performance usually measured in terms of financial perspective gives on one facet of the metric, and this has to be reinforced using the metrics such as organisational perspective, customer perspective, learning and growth perspectives. All the four perspectives described above have their own share and importance in defining the company performance. The fact that we are focusing on our company performance measurement to RAA industry poses a bigger challenge as today there are hardly any proven literature and journal papers available to look into this perspective. This is when we strategically focused on growth in overall profits of the company. This included growing revenues by improving of EBITDA (Earnings Before Interests, Taxes, Depreciation and Amortization) and by increasing efficiency (i.e. cutting costs). These improvements were implemented by chalking out a comprehensive BSC designed to suit the RAA industry. The four perspectives of management namely, internal business process, organisational learning, financial perspective and customer perspective have been studied and considered explicitly and enunciate the parameters that affect the BSC very aptly. The BSC designed considered 21 objectives and relative measures of these factors to quantify the various quantitative and qualitative dimensions that affect the company's performance. It is worthwhile to note that many of the performance measures are difficult to quantify, and the real challenge is to give a suitable dimensions to intangibles involved in the various perspectives mentioned above.