A Report about the Rainbow Lighting Ltd focusing on the use of Essay

A Report about the Rainbow Lighting Ltd management on the use of equilibrize Scorecard - Essay ExampleMany researchers have researched about the various(a) purposes of the balanced scorecards along with their role in enhancing the schemes public presentation. The high society has to manage the strategies for its survival and growth and it can respond to the environmental changes only by operations management. It is vital for every(prenominal) organisation to stop that the strategy is supported by stiff business operations and systems hence, it is important that the organisation has to ensure that correct mechanisms are in place so that everything is appropriately placed. The company unavoidably to ensure that four of its aboriginal problems are rectified regarding the production, grocerying activities, internal processes and employee satisfaction. Hence, the management of the company must strive to apply the Balanced Scorecard as identified in the report and try to imp lement it in the organisation. The management needs to set the short-term goals as well for the purpose of performance improvement by the implementation of the red-hot system in the organisation it should ensure that appropriate mechanisms are in place that supports the organisation in improving its performance. Introduction to Balanced Scorecard In todays dynamic environment, it is crucial for every organisation to ensure that their performance level is measured from era to time and one of the most effective ways is to use Balanced Scorecard (Figgie et al., 2002 and McGillicuddy, 2009). The scorecard is found to have strategic importance as the card is developed in linkage with the vision and goals of the organisation and adequate awareness is created within the organisation so that every stakeholder is well-aware of the importance of its implementation in the business activities. Many researchers have researched about the various purposes of the balanced scorecards along with th eir role in enhancing the organisations performance (Lawson et al., 2003 and Mintrop and Trujilo,2005). Considering the situation being go about by Rainbow Lighting Ltd., it has been found that the existing management of the company has been unable to increase the production and performance of the company. The sales of the company have not been increasing at an accelerating rate and the product range has been accelerating simultaneously the product ranges of the company are classified as Alpha and Beta ranges. In the industrial sector, the company introduced bulbs by the name Everlasting Halogen Spotlight (EHS) bulb and the problems highlighted by its users created bad publicity in the market it was reported that there was a fault in the manufacturing sector and the annual sales revenue diminish by 5%. Another problem faced by the company is that the sales order bear upon time is longer i.e. 21 days and the distributors are not satisfied with such longer time duration. The price of the bulbs was increased but the sales did not increase as compared to the total increase in the market. The rejection rate of the bulbs has increased from 3.6% to 5.4% and the production efficiency has decreased significantly. The