Development of a performance measurement tool for an agricultural enterprise using BSC and QFD models

Abstract

The business eco system of contemporary market is witnessing quick and hastening transformation, resulting in growing ambiguity and complication. Therefore, the need of a comprehensive performance measurement technique that can provide management oriented information and act as a supporting tool in developing and analyzing organizational strategies with a view to achieve competitive advantage is ardently felt. So, this paper proposes the application of balanced scorecard (BSC) model in an Indian seed manufacturing organisation to place the organizations expediently against the competitors by aligning its corporate vision and strategy with organisational performance through the interconnectedness of different layers of perspectives. Next, a framework to integrate both BSC and quality function deployment (QFD) models is provided for the first time in a seed manufacturing industry in order to evaluate its performance over the two time period periods. The integrated BSC-QFD technique can help managers to understand competitive strength of the said organization and in turn facilitate in efficient and effective decision making. Even though, these models are adopted for an explicit business, there is also adequate future scope of their implementation to diverse industries.