Comment on the four key criteria of the Balanced Scorecard relative to a specific public company

I have taken the Unum Corporation and the link is given below:
http://www.exinfm.com/training/pdfiles/Balanced%20Scorecard%20Cs.pdf

Organizations face many challenges and pressures to respond quickly to unexpected rapid changes to every aspect of business processes, including the economy, marketplace, and technology. The Balanced Scorecard is one of many performance management measurement tools that have become very popular in recent years in order to improve the performance of the organization. This essay will evaluate the use of Balanced Scorecard as a measurement tool in UNUM Corporation.

UNUM Corporation is into risk insurance solution and provides disability
and special risk insurance solutions to individuals and businesses. It has 7200 employees and operations in the US, Canada, the UK, the Pacific Rim, Europe, Bermuda and Latin
America.

In 1991, James Orr the CEO James Orr and his set out the agenda for building and implementing balanced scorecard in light of the new environment and incorporating the vision, values and environmental and internal changes facing the organization.

He acknowledged that the focus of the organization should not be only the financials but the multiple parameters in order to satisfy all the stakeholders of the UNAM. He created a team of 13 managers besides taking feedback from all the employees to develop new goals. After months of rigor they developed a balanced scorecard consists of four perspectives:
- UNUM people
- Operating effectiveness
- Customer satisfaction
- Shareholder value.
Each of the perspective included vision, quantifiable measure and goal. This is given in the attached article. Ultimately the balances scorecard proved to be very much useful in UNAM's success.

Key Learning Points from UNAM's success;

1. The balanced scorecard incorporated changes to the organization and a new set of challenges.
2. There was commitment from top management.

4. Vision was clearly defined.
5. The time sensitive goals were laid down and were made clear to all employees which led to breakthrough improvements.
6. The communication was clear and objectives of the balanced score card was conveyed to the employees.

7. The innovative compensation plan helped in aligning individual performance
with corporate goals.
8. All individual performance contracts, from the chairman down, reflect
the scorecard's four perspectives.

References:
1. Management Control system by Govindrajan
2. www.balancescorecard.biz
3. Corporate Strategy by Ghamel