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All agency action can be classified in three categories: quasi-adjudication: order making, judicial quasi-legislation: rulemaking executive
Posted On: Nov. 22, 2017
Author: Shipra


Friend Reply – Please response to both friend post Wanda Mason-Ballenger(1 posts) Jul 28, 2015 06:15 PM The Balanced Scorecard was created in the 1990s by Dr. Robert Kaplan and Dr. David Norton, both of the Harvard Business School (About Money, 2015). It is designed to align particular business activities with the company mission to strategically manage and measure the processes utilized to achieve the company vision. It is a communication tool that measures goals and evaluates performance; including fiscal objectives and dimensions. There are four facets included on the Balanced Scorecard, covering internal company procedures, consumer, financial and learning/growth. To help implement strategies and objectives the Balanced Scorecard endeavors to measure and avail feedback as “a performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes” (Investopedia, 2015). After the vision and stratagem have definition and agreement, determining the causes of ascending and descending progress on the Balanced Scorecard must be identified. According to Organized Change (2010), their a four specific causes related to the movement on the Balanced Scorecard identified as Environmental; which includes aspects beyond company control such as regulations imposed by the government, politics at all levels and the economy or economic cycle. Organizational drivers; which encompasses organizational strategy, policy, procedures, company structure, salaries and human resources. Department or group work in progress, associations, tasks and assignments and Individual; which takes into account persona, styles of management, capabilities and behavior. At this juncture, SMART comes into play to realize the correlation between the causes as they apply to the mission. SMART is the acronym representing specific, measurable, agreed upon, realistic and time-bound and refers to attaining the target goal, via the methodology, specific timetables and resources required. In the instance that some improvements have been viewed and some performance measures have been successful while others have not, the management team may wish to redefine the measurements being utilized. The correct items being measured is imperative to reflect what is actually happening, which translates as success, is a function for which measures are used. Additionally, management may wish to re-evaluate the techniques and methods; which directly bear upon success. These fall into two categories, small or minor in scale; representing, as an example, motivating speeches, problem-solving groups to address technical concerns and visual aids and presentations to bring more clarity to the mission. On the major or large scale, the technique may encompass restructuring, pay incentives, increasing funds and staff, additions or modifications regarding consumers, products and services, improving core competencies and things of this nature (Organized Change, 2010). The Balanced Scorecard (BSC) measures performance with the addition of strategic non-financial performance measure which is combined with the traditional financial observations to avail a more balanced examination of the company’s performance. In this way, not only the “bottom line” is considered in reporting. The BSC has developed from the simplistic performance capacity tool to a full blown strategic planning and management system. According to the Balanced Scorecard Institute (1998 – 2015), the BSC “transforms an organization’s strategic plan from an attractive but passive document into the ‘marching orders’ for the organization on a daily basis”, thus the management team is able to soundly execute the strategies in place with a viable framework that present performance measurements and assists plan makers determine the appropriate actions to be taken and measured. Weak and vague approaches to management are clarified and become actionable in an effort to provide balance from an economic perception. Strategy is translated by telling a story of the way by which value is created for the company and a clear and logical step-by-step process between objectives in each of the four specific drivers formerly defined. The question asked is, “if we do this than that occurs” and this is done by improving knowledge and skills and improving technology and tools at the organizational level. Next efficiency processes must be increased with a shorter cycle of time. Regarding the consumer, they require shorter wait times and consumer retention needs to be increased. On the financial level, the goal is to reduce costs, improve profitability and increase revenues. Inversely, from the financial aspect and progressing through the same list, the question is, “how”. Everything in between answers these two questions and translates into performance measures. References: About Money (2015), Balanced scorecard, as retrieved on 27 July 2015 from http://consulting.about.com/od/glossaryfaq/g/CF_BalancedScor.htm Balanced Scorecard Institute (1998 – 2015), Balanced scorecard basics as retrieved on 28 July from http://balancedscorecard.org/Resources/About-the-Balanced-Scorecar Investopedia (2015), Balanced scorecard, as retrieved on 27 July 2015 from http://www.investopedia.com/terms/b/balancedscorecard.asp Organized Change (2010), Balanced scorecard, bsc and performance improvement as retrieved on 28 July 2015 from https://www.organizedchange.com/balancedscorecard.htm YacoubHabashi(1 posts) 1. Assume that the company adopts the Balanced Scorecard. After operating for a year, there are -improve ments in some performance measures but not in others. What should management do next? This probably occurs in many places. There is always room for improvement, regardless of the circumstances, such as more training, updated technology, bigger workforce, new clients, and so forth so on. If management sees that some areas still need improvements in areas, then they as a team needs to decide what areas need to improve, and find and calculate a plan to accomplish these ideas. Just because areas still need improvement does not necessarily mean that the balance scorecard is not serving its purpose. 2. How does the Balanced Scorecard communicate strategy to the organization? How is strategy translated into performance measures? A balanced scorecard communicates strategy to an organization through four processes. These four processes are as follows: translating the vision . communicating and linking . business planning and feedback and learning. Strategy is translated into performance measures by these four management processes, which allow the linkage of long term strategic objectives with short term actions (Kaplan & Norton, 2013). 3. Why does the Balanced Scorecard differ from company to company? Whose responsibility is the implementation? A balanced scorecard differs from one company to the next because daily operations of every company are different that one another as well. The responsibility of the implementation of a balanced scorecard should be a special team within management. A special team assigned would be able to focus and dedicate their tasks to fulfill the implications of a balanced scorecard. 4. Based on your understanding of the application of the Balanced Scorecard, discuss how an organization successfully creates and uses a BSC. The process of creating and using a balanced scorecard is not a complicated ordeal. An organization needs to come up with a company vision, their strategies, their perspectives, and important success factors and their necessary measures and then develop an action plan. After an action plan iscompleted then the organization needs to implement all the details into the scorecard and balance it out from there, making adjustments where needed. References Kaplan, S. & Norton, D. (2013). Using the Balanced Scorecard as a Strategic Management System. Retrieved from, http://hbr.org/2007/07/using-the-balanced-scorecard-as-a-strategic-management-system/ar/