Process to implement balanced scorecard, Strategic Management

Assignment Help:

Q. Process to implement balanced scorecard?

1. A clear vision of introduction of a BSC communicated and demonstration which senior management are committed to the idea.

2. Education given to all managers and staff of the concept of the BSC e.g. workshop seminar or letter to staff for better understanding.

3. According to Kurt Lewin's three stage approach to change, unfreeze existing beliefs by creating dissatisfaction with the current situation, hold consultative meetings and presentations, educate and communicate the reasons why change needs to occur.

4. Participation encouraged by all staff and management to aid change e.g. consultation and evaluation of different solutions, keep an open mind and listen to those affected.

5. Plan and determine how change needs to take place and set objectives and timescale for the introduction of a BSC system.

6. Implement change e.g. systems introduced for gathering information as well as training given to staff andmanagers.

7. Staff appraisal systems and Reward modified and linked to performance measures.

8. Review and feedback obtained periodically to ensure the change process has been successful, and frequent updating of certain measures if they are no longer appropriate.


Related Discussions:- Process to implement balanced scorecard

Industry Profitability, How do the five competitive forces in Porter''s mod...

How do the five competitive forces in Porter''s model affect the profitability of the overall industry? For example, in what way might weak forces increase industry profits, and in

Models of strategic management, your own company. Consider how this organiz...

your own company. Consider how this organization has developed their strategic management. Then write an original article addressing how this organization selected a model of strat

Explain how material requirements planning improve operation, Explain how M...

Explain how Material Requirements Planning (MRP) might improve operations. Reduced stock holding MRP can simplify inventory control and levels of stock holding may be de

Jidoka - quality at source, Jidoka - Quality At Source Jidoka was firs...

Jidoka - Quality At Source Jidoka was first introduced by Dr Taichi Ohno into the Toyota Motor Company in the early 1960s. In the process of producing an efficient material fl

Topic on training, need to make a memo to company executives explaining why...

need to make a memo to company executives explaining why adequate training is important to the company and how the financial costs can be justified

What is benchmarking, A technique employed to help with deciding which soft...

A technique employed to help with deciding which software package to select.

Strategic plan, To maximise the potential of our business I would like you ...

To maximise the potential of our business I would like you to prepare a strategic plan, specifically I would  like the plan to incorporate a mission statement, a SWOT analysis, a

Calculate the pricing strategy, Stephen Hecht, grandson of Marcus Hecht, th...

Stephen Hecht, grandson of Marcus Hecht, the founder of Classy Formal Wear and now executive vice president and chief operating officer of the firm, was considering how his new lin

Synergy, Mergers and acquisitions (abbreviated M&A) are both an aspect of c...

Mergers and acquisitions (abbreviated M&A) are both an aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of di

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