Futura Industries Remember the last time you walked through a grocery store? Did you notice all of the shelves holding the food? If you are like most people, you probably did not pay much attention to the shelves except to take the food off of them. The aluminum parts that make up the shelves in a grocery store (and other stores) are part of a product family known as aluminum extrusions. Many aluminum extrusions are manufactured by a company in Clearfield, Utah, called Futura Industries. While Futura’s products are not very exciting, they are pretty important. Hence, the management process at Futura is as important as it is at any other type of company, and Futura Industries has a very interesting balanced scorecard.

Futura Industries began in the 1930s producing a product called colfonite. During the late 1940s, it started producing aluminum extrusions. By 1979, the Seattle, Washington-based company had moved its entire company to Clearfield, Utah. Futura’s current president, Sherrie Hayashi, has chosen to pursue her company’s mission (Extraordinary Value through Extrusions) by careful alignment of the company’s measures and tactics. She and the rest of the management staff at Futura have developed a balanced scorecard that has proven to be very successful in helping the company to grow.

Strategy of Futura:

Futura strives to insure financial growth and prosperity by developing customer intimacy, providing flawless new products, and identifying new opportunities in products and processes. In addition, it emphasizes speed and quality in operations, planning and delivery accuracy, and continual reduction of costs. Futura is also focused on working to improve its competencies, providing a safe, challenging, and enjoyable workforce, and hiring people who have its same values.

The following is an alphabetical list of Futura’s balanced scorecard measures along with a definition of each measure:

Classify Futura’s balanced scorecard measures into the four Balanced Scorecard categories:
financial measures, customer measures, internal process measures, and learning and growth measures. Use Futura’s strategy to help you determine how to classify each measure.

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Balanced Scorecard Measure Definition Accuracy of price quotes Average job certification levels Birthday review Cash return on total assets Cost of plant scrap Cost of rework Customer complaints Customer satisfaction Dollar value of products packaged per person Employees with one year or more turnover ratio Income growth Leadership survey Leadership turnover Margins on new products and standard products On-time deliveries Percent of market in commercial retailing Percent of market in original equipment manufacturers (OEM) Percent of sales from new products Pounds of products packaged per person Number of correct price quotes + Total price quotes issued Total sum of job certification levels + Total employees Score based on yearly review on date of employee's birthday Cash flow + Total assets Dollar value of scrapped material Dollar value of rework before sale Number of complaints + Total number of customers Periodic customer surveys Total dollar value of product packed + Number of employees working Number of employees employed for one year or more + Total number of employees (Current year's income - Previous year's income) + Previous year's income Yearly survey score of employees Number of new employees in leadership positions + Total number of employees in leadership positions Gross profit margin on new products and on standard products Number of on-time deliveries + Total deliveries Number of commercial retail customers + Total number of customers Number of OEM customers + Total number of OEM customers Sales revenue from new products + Total sales revenue Number of pounds packed + Number of employees working