Balance Scorecard for ElCO Cables Limited

Abstract

To gain a sustainable development in an industry the performance measurement should be performed appropriately and continuously. The conventional method of PAMS cannot pave the way of efficiency than the modern performance techniques. Kaplan and Norton introduced a holistic approach of PAMS to overcome the drawbacks of ancient PAMS blended with both financial and non-financial ( Internal business process, customers and learning & growth)perspectives. The BSC measures the organizational performance based on several aspects and a number of parameters. So, the obvious purpose is to explore the appropriateness of the BSC philosophy in respect to the ELCO cables limited. The objective of the report is to understand the financial and non-financial appraisal system of the company, how they perform the manufacturing process and day to day activities and the present condition of the cable market of Bangladesh. The findings of the report regarding the company based on BSC that the organization always keep their eyes on customer’s needs and demands as they can shape their product line accordingly since they want to be one of the leaders of the cable industry and for this they do customer satisfaction survey. The company tries to capture 7% of the market share by 2025. . They always try to control defect-free rate wile utilizing the maximum production capability. The company is trying to improve its customer response time and new product development period keep pacing with the industry giants. The company has a set of talent and polite board of directors who try to maintain the code of conducts for the maximum benefit for both the company and its personnel. The market of the cable sector is growing over the time because of the extension of power gridlines throughout the country. The cable market of Bangladesh is rising on an average of 15% over a year since the government of is looking forward to supply electricity for all by 2022, though the Covid-19 impacted the growth performance downward to some extent. The company should take necessary steps to raise public awareness regarding safety and quality issues and take initiatives to increase the branding values complying with international standards.