Management process of balanced score card, Electrical Engineering

Assignment Help:

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.


Related Discussions:- Management process of balanced score card

Energy stored in the coil, The term representing the energy stored in the c...

The term representing the energy stored in the coil may be written in terms of the inductance of the coil as... The energy stored in the coil increases with the square of t

Assigment, what is p-n junction and how its work

what is p-n junction and how its work

Carrier modulation by digital signals, Q. Carrier Modulation by Digital Sig...

Q. Carrier Modulation by Digital Signals? Digitally modulated signals with low-pass spectral characteristics can be transmitted directly through baseband channels (having low-p

Dsp causal LTI system, cosider a causal LTI system whose system function is...

cosider a causal LTI system whose system function is H(z)=1-1/5z^-1/(1-1/2z^-1+1/3z^-2)(1+1/4z^-1) find the direct form 1 and direct form 2

What do you mean by assembly procedures in fem, a) What do you mean by asse...

a) What do you mean by assembly procedures in FEM, discuss by taking suitable example of your choice. b) Write the potential energy equation for particular FE analysis of a prob

Semiconductor devices, Semiconductor Devices: We have studied semicond...

Semiconductor Devices: We have studied semiconductor devices. Firstly, we understand what semiconductors in terms of energy band diagrams are. Then we understand what is dopin

Calculate maximum reactive power the generator can produce, A 3-phase, wye-...

A 3-phase, wye-connected, 11.8 kV, 100 MVA turbo- generator of 0.8 power factor lagging has a synchronous reactance of 2.0 p.u. on rating. The generator is driven by a steam turbin

Number of holes in valence band, Number of holes in valence band: Der...

Number of holes in valence band: Derive the expression for number of holes in valence band and Fermi level in an intrinsic semiconductor. (b) By that percentage does the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd