Can you please help me put these questions together about this Performance Metrics and Balanced Scorecards paper with only 2-3 references. Thanks in advance for your assistance.
This week, compose a 2-3 page essay defining and examining Performance Metrics and Balanced Scorecards as they relate to e-commerce and e-marketing. Revolve your essay around the following prompts:
1. What is the Balanced Scorecard and how do companies use it in e-business?
2. How does the Balanced Scorecard help e-business examine results? Would you recommend that e-businesses also look at results form a societal perspective?
3. What are several types of social media engagement metrics?
4. What are three ways of collecting Web analytics?
Compose your essay with a title page, introduction, conclusion and 2-3 references cited in text and in the references section..
Frost, R. & Strauss, J.,(2012). E-Marketing. (6th ed). New York: Prentice Hall
There are many performance metrics that can be used to measure the effectiveness of a company's strategy. These metrics can help a company fine tune their strategy as well as help employees better understand the company's mission as well as the results of the various actions taken within a company. Performance metrics serve as a way to focus and tie results to actions.
A balanced scorecard is a management tool used to "align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals" (Balanced Scorecard Institute, 2013). In essence, a balanced scorecard enables employees to focus on the most important metrics of the company to help them focus their efforts correctly. An effective balanced scorecard turns a company's mission and objectives into action. Businesses use balanced scorecards in e-business as a way to monitor customer satisfaction, customer retention and gauge the effectiveness of Internet marketing. A balanced scorecard can be used to track hours/days for fulfillment as well as error rate as well to improve customer satisfaction.
This solution discusses balanced scorecards, and how they are used in e-business. It also discusses several types of social media engagement metrics and ways of collecting Web analytics. Includes APA formatted references.