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

What is the probability that a call will be blocked, A three stage switchin...

A three stage switching structure is to accommodate N = 128 input and 128 output terminals. For 16 first stage and 16 last stage, verify the number of cross points for nonblocking.

Superhet receiver, Write a short summary of the AM superhet receiver, in ex...

Write a short summary of the AM superhet receiver, in exacting consider how the demodulation stage works, and remark on the choice of component values used.

Classify feedback control systems according to purpose, Q. Classify Feedbac...

Q. Classify Feedback control systems according to purpose of the system? • Position control systems. Here the output position, such as the shaft position on a motor, exactly fo

Find the first-null bandwidth, An audiomessage is band-limited to 15 kHz, s...

An audiomessage is band-limited to 15 kHz, sampled at twice the Nyquist rate, and encoded by a 12-bit natural binary code that corresponds to Lb = 212 = 4096 levels, all of which s

Strategy and customer relationship management, Strategy and Customer Relati...

Strategy and Customer Relationship Management CRM sometimes considers as only information technology because of availability of quite a good number of software packages in the

Give the properties and application of bronze, Give the properties and appl...

Give the properties and application of bronze. Bronze : It is alloy of copper and tin. This alloy is very brittle and hard. Its corrosion resistance is better than brass. Bron

Framework for indicators in electricity sector, Framework for Indicators in...

Framework for Indicators in Electricity Sector A framework has been developed and a set of core indicators for electricity Sector has been proposed. In the first example, mapp

Explain effect of frequency of applied electric field, Explain effect of fr...

Explain effect of frequency of applied electric field. If an external electric field is applied, the distance among charges that is related to chemical bonding keeps constant i

Illustrate inverting operational amplifier, (a) Give the characteristics of...

(a) Give the characteristics of ideal OP-Amp? (b) Illustrate inverting operational amplifier with feedback. get the expression for voltage gain with feedback? Write short not

Find the bandwidth and the power content of modulated signal, The normalize...

The normalized signal xn(t) has a bandwidth of 10 kHz and its power content is 0.5 W, while the carrier Ac cos 2πfct has a power content of 200W. Find the bandwidth and the power c

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