Management process of balanced score card, Electrical Engineering

Management Process of Balanced Score Card

The BSC (Balanced Score Card) proposes four a new management processes which separately and in combination, contributes to linking long-term strategic objectives along with short-term actions. The processes are:

(i) Translating the Vision

  1. Clarifying the vision
  2. Gaining consensus

(ii) Communicating and Linking

  1. Communicating and Educating
  2. Setting goals
  3. Linking rewards to performance measures

(iii) Business Planning

  1. Setting targets
  2. Aligning strategic initiatives
  3. Allocating resources
  4. Establishing milestones

(iv) Feedback and Learning

  1. Articulating the shared vision
  2. Supplying strategic feedback
  3. Facilitating strategy review and learning

The balanced scorecard could be used as the foundation of an integrated and interactive strategic management system. Kaplan and Norton (1992) have declared that various organizations are using the BSC to:

1.  Clarify and update strategy

2. Communicate strategy throughout the company

3. Align unit and individual targets with the strategy

4. Link strategic objectives to long-term targets and annual budgets

5. Identify and align strategic initiatives

6. Conduct periodic performance reviews to learn about and improve strategy.

Posted Date: 2/6/2013 2:29:46 AM | Location : United States







Related Discussions:- Management process of balanced score card, Assignment Help, Ask Question on Management process of balanced score card, Get Answer, Expert's Help, Management process of balanced score card Discussions

Write discussion on Management process of balanced score card
Your posts are moderated
Related Questions
Memory  to Register This  instruction is used to copy the contents of a memory  locations whose  address is specified by the HL register  pair to any register. Before  using th

Q. What is the speciality of a darlington transistor? A darlington pair behaves like a single transistor with a very high current gain. The total gain of the darlington is the

Using the LM741operational amplifier build a voltage amplifier with the voltage gain of  |A V | = 500 v/v ± = 20%. Measure all necessary parameters of the amplifier (as per deliver

Complier-High Level language It also  translates the  whole  high  level  program  into object  program if it does not  have any  syntax error. The disadvantage of the  in

Change the brightness of the most beneficial illuminated LED to represent voltages among the ranges so that if the value is half way among the range then the LED should be 50% brig

Pareto Analysis Pareto charts are based on the principle - "Vital Few Trivial Many". It allows user to focus attention on a few significant factors in a process. It is very us

We commissioned a 'bad practice exemplar' by asking Plexus to modify a good design (provided by Valor) to demonstrate the most likely kinds of faults in each of the areas Design fo

Q. Explain function of application layer? Layers of OSI model are as follows: (1) The Physical Layer: This defines an interface in terms of connections, voltage levels and

Design and draw a circuit using the cascade system to operate two cylinders (A and B) which, on the operation of a start valve, produces the sequence A – B + B – A+. The cylinders

Q. What is Session Layer? Session layer is used to allow users to identify themselves when waiting access to the network. This is concerned with setting up and sustaining an op