...Strategic Plan, Part III: Balanced Scorecard BUS 475 Alicia Joseph May 7, 2012 James Sternieri – Instructor Strategic Plan, Part III: Balanced Scorecard 2 One may ask, “What is a Balanced Scorecard?” “A Balanced Scorecard is a tool that is used in management to completely monitor the performance and access whether smaller goals are consistent with larger and long-term goals, based on the vision and strategies being used” (Kaplan & Norton, 2005). This type of tool can be beneficial for the operation of All Eyes on Me as a startup business. Having a balanced scorecard will allow the following to be identified: the mission statement, the vision statement, the objectives, the values of the company, and mainly the SWOT analysis. The balanced scorecard is often times considered an excellent perspective as it relates to learning the financial perspective, internal perspectives and the consumer. In this paper, I will attempt to discuss the objectives, target audience and performance measures. Also, in this paper, I will discuss the mission, SWOT analysis and vision of All Eyes on Me. Financial Perspectives “While defining the financial perspective, the main concern is the company image as perceived by their stakeholders at a time when they are already successful” (Kaplan & Norton, 2005). All Eyes on Me will have to develop a strategy (marketing) that will show an increase that is compared against its’ competitors. The competition research or market...
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...Shanice Armistad July 15, 2015 BUS/475 Professor Kosicki Business Model and Strategic Plan Part III Business Model and Strategic Plan Part III This paper will showcase how Disney creates and executes its new methods. The balances scorecard is used in order to breakdown different aspects of the company that have been assessed. This method is used by companies of every size, small or large. The balanced scorecard is created with the consideration of goals, profit, growth etc. Disney will be able to gather accurate data but there is the possibility that the data could be unclear. Efforts will be made to put together tactical goals according to the information utilized in the balances scorecard. Financial In order for Disney to continue to grow they will have to stay focused on being a good competitor and having a competitive strategy. This will allow the company to consistently grow and create new expansions within the company. Disney’s goal is to gain a 2.5% growth rate every other month with new clientele. This will be achieved by hiring and maintain a professional and educated staff of employees that will ensure the best experiences visiting Disney World. Disney plans to add more services to increase the Disney experience starting with personal meetings via web or in person. With this added service new customers will be able to create customized packages depending on their budget and what they would like to do while visiting Disney World. Disney is expecting this...
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...Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan The balanced scorecard is vital for a healthy growing business. It is an essential component for defining the goals and targets of the business. "The Balanced Scorecard is a tool that is widely used to help a company achieve its financial objectives by linking them to specific strategic objectives derived from the company's business model" (Pearce, 2013 ). This paper will reference Stater Bros. Kiddie Korner's values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard that includes financial performance, customer knowledge, internal business process, and learning and growth. Financial Perspective/Shareholder Value Sater Bros. has strong values, vision, and mission statement. Having these elements in place will help our new division reach our goals and achieve targets. When evaluating financial perspectives and shareholder values, we must ask ourselves: “how can we ensure value and sustain financially moving forward?" The objectives of Sater Bros. financial perspective is to increase revenues, manage operating cost, and improve sales. To accomplish these goals, we will utilize our drop-in childcare service to increase sales. Customers will spend more time in the store without the hassle of having children in tow. Also, over time we will find new and...
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...Strategic Plan, Part III: Balanced Scorecard Strategic Plan, Part III: Balanced Scorecard Financial Scorecard Objectives | Measures | Targets | Initiatives | Competitive Position | Prices are calculated to be competitive with other Blueprint services in the CSRA | The company should be in a position to offer competitive rates and remain profitable. | This goal can be achieved by lowering all of our overhead cost. | Profitability | Return on equity | Our company is looking for long-term profitability for a life time rather than profitability on a single transaction | This goal can be achieved by measuring our profit margins to ensure our organization is profitable. | Revenues & Cost | | | | Internal Operations Objectives | Measures | Targets | Initiatives | Implement customer loyalty program | Customer habits and loyalty must be determined before conducting marketing operations. | Track customer behavior | Use data to develop marketing plan | Set short-term sales goals | Sales should be in line with competitors. | Company sales should improve | Data should be determined from competitors. | Customer Value Objectives | Measures | Targets | Initiatives | Customer Satisfaction | Customer satisfaction should remain high and disputes should be resolved quickly | Churches that uses our services | Conduct market research about target audience. | Customer Value (Innovation) | Utilizing the newest technology | Offer technology that is new in...
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...Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Josephine Olinger BUS/475 NOVEMBER 25, 2014 PROF SARITA WESLEY Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan This paper will outline and explain the strategic objectives for Adecco Group using the format of a balanced scorecard. The balanced scorecard is a frame work that is used to translate a strategy into operational terms, while providing measures using the following four quadrants; Financial Perspective, Customer Value Perspective, Process or Internal Operations Perspective, and finally Learning and Growth (Employee) Perspective. These objectives are based on an evaluation of a number of potential alternative processes and opportunities that are identified on Adecco’s SWOTT Analysis. Adecco’s financial objective is to achieve an increase in the staffing and placement area of their business. Adecco believes that an average growth of seven percent for the next five years will increase their market share greatly within this five year period. Adecco’s strategy will start with an aggressive plan where they will be looking to increase their market shares in the U.S and North American markets. Those great gains will offer Adecco a chance to continue to compete with its other major competitors. Adecco understands the value of those that they serve and the objectives that they look to implement in their process of growth adecco.com (2014). ...
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...Communications of the Association for Information Systems Volume 17 Article 8 2-23-2006 Using the Balanced Scorecard to Achieve Sustained IT-Business Alignment: A Case Study Qing Hu Florida Atlantic University, qhu@fau C. Derrick Huang Florida Atlantic University, dhuang@fau Follow this and additional works at: http://aisel.aisnet.org/cais Recommended Citation Hu, Qing and Huang, C. Derrick (2006) "Using the Balanced Scorecard to Achieve Sustained IT-Business Alignment: A Case Study," Communications of the Association for Information Systems: Vol. 17, Article 8. Available at: http://aisel.aisnet.org/cais/vol17/iss1/8 This material is brought to you by the Journals at AIS Electronic Library (AISeL). It has been accepted for inclusion in Communications of the Association for Information Systems by an authorized administrator of AIS Electronic Library (AISeL). For more information, please contact elibrary@aisnet.org. Communications of the Association for Information Systems (Volume 17 2006) 181- 204 181 USING THE BALANCED SCORECARD TO ACHIEVE SUSTAINED IT-BUSINESS ALIGNMENT: A CASE STUDY Qing Hu C. Derrick Huang Department of Information Technology & Operations Management Florida Atlantic University qhu@fau.edu ABSTRACT High levels of investments in IT and related products and services by firms over the last several decades produced only mixed results. Research shows that one of the most significant determinants of successful IT investments...
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...Benchmarking in HR/ HR Balanced Scorecard /SEM SAP AG HCM EMEA - public - Agenda Benchmarking Balanced Scorecard © SAP AG 2002, The HR Balanced Scorecard, Dr. Martina Schuh, Page 2 Agenda Benchmarking Balanced Scorecard © SAP AG 2002, The HR Balanced Scorecard, Dr. Martina Schuh, Page 3 Benchmarking – Definition Benchmarking is the comparison of similar processes across organizations, companies and industries to identify best practices and develop improvement plans and actions (Score Research) [ Learn from the best by enterprise comparison!!! ] [ Learn from each other by enterprise comparison!!! ] © SAP AG 2002, The HR Balanced Scorecard, Dr. Martina Schuh, Page 4 Integration with Benchmark Provider: Data Flow Payroll Benchmark Provider SEM Measure Catalog (HR Measures) Administration 0100010101 1011001010 1101001010 1010100011 1010100101 1011010101 1001010101 XML Time Management HR Benchmarks Business Content Benchmarks from Provider 0100010101 1011001010 1101001010 1010100011 1010100101 1011010101 1001010101 XML Developments BW Rel. 3.0 HR InfoCube for external Benchmarking © SAP AG 2002, The HR Balanced Scorecard, Dr. Martina Schuh, Page 5 Measures: Data Flow SAP SEM Objective/Measure Actual Plan B.mark Develop key skills Strategic skills available 17 26 25,5 Employee retention 73 70 68 Improve corporate culture Employee satisfaction 9,1 8,5 9,0 Measure Builder Measure definition Balanced Scorecard MEASURES are defined from a purely business point...
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...Strategic Plan, Part III: Balanced Scorecard Rebecca Lanham BUS 475- Integrated Business Topics August 1, 2011 Phyllis Koch 2 Balance scorecard is essential for developing a healthy business growing place. This is a vital key for defining the goals and targets of a company as well as the vision, mission, and the SWOTT Analysis. A Balanced Scorecard is, A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth (Pearce and Robinson, 2009, p. 202). This term paper will relate TL Concrete Services, values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard (financial performance, customer knowledge, internal business process, and learning and growth). Financial Perspective/Shareholder Value A strong and well defined vision and mission statement will facilitate the company to achieve its target. The objectives of TL Concrete Services should be implemented as a daily routine so as to increase the performance of the company. The first and foremost responsibility of a company is to seek its customer satisfaction, benefit utilization, increased net revenues, and also to achieve financial stability. To evaluate the financial stability of a company, one should calculate the Operating cost, Earnings per share, growth revenue and return on interest and capital. If we succeed how we will look to our stakeholders Customer Value Perspective. The customers determine...
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...(2004) 351–366 long range planning www.lrpjournal.com Implementing the Balanced Scorecard in Greece: a Software 5 Firm’s Experience Alexandros Papalexandris, George Ioannou à and Gregory P. Prastacos The Balanced Scorecard (BSC) is a relatively new approach to strategic management and performance measurement and control, which has generated substantial interest in the academic and industrial communities. This paper presents the experience from the implementation of a specific BSC model at a large software development company in Greece. The study illustrates and evaluates the main obstacles and shortcomings, as well as the critical success factors that characterise such BSC projects, while offering managerial insights and guidelines for similar implementations. Q 2004 Elsevier Ltd. All rights reserved. Introduction The shortcomings of traditional management control and performance measurement motivated the development of the Balanced Scorecard (BSC), a management system incorporating all quantitative and abstract measures of true importance to an enterprise.1 The two key elements of the BSC are: (a) Clustering of similar types of measures into groups (perspectives); (b) Limiting the measures and linking their values to improve clarity, allow for transparent communication throughout the organisation, and effectively manage change. 5 An earlier and compact version of this paper was presented at the IEEE International Engineering Management Conference, St John’s...
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...Final Business Model and Strategic Tanja Baca BUS 475 April 13, 2015 Daniel Magnole Table of Contents I. Executive Summary Pg. 3 II. Business Model and Strategic Plan Part I: Existing Business or New Business Division; Vision, Mission, and Value Proposition Pg. 4 III. Business Model and Strategic Plan Part II: SWOTT Analysis – Internal and External Environmental Analysis; Supply and Value Chain Analysis Pg. 9 IV. Business Model and Strategic Plan Part III: Assumptions, Risk and Change Management Plan; Summary of Strategic Objectives; Balanced Score Card and its impact on stakeholders; the Communication Plan Pg.14 V. Business Model and Strategic Plan Part IV: Monitoring and Control Strategies Pg.20 VI. References Pg.24 Executive Summary Pall Corporation, the world’s leading developer in filtration systems would formally like to present today the most advanced continuous glucose monitoring device; Truecose. We are working at finding the ways to better improve people’s lives with the most effective equipment. Truecose’s business model is to continue building the company’s name and trust of its customers by leading technologies in the market it serves. The company through all divisions will continue to make the “world safer, greener, better”. The acquisition of Dexcom has proven to be the most beneficial option in helping to improve new continuous glucose monitor. Pall has developed a strategic plan that has minimized risks, such as FDA regulations...
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...“HENRI COANDA” AIR FORCE ACADEMY ROMANIA “GENERAL M.R. STEFANIK” ARMED FORCES ACADEMY SLOVAK REPUBLIC INTERNATIONAL CONFERENCE of SCIENTIFIC PAPER AFASES Brasov MANAGEMENT METHODS AND TECHNIQUES USED TO ENSURE THE INTERNAL AUDIT PERFORMANCE Marian SFETCU Phd. Student, Faculty of Economics Sciences and Business Administration of „Babeș - Bolyai” University of Cluj Napoca.E-mail: marian_sfetcu@yahoo.com. Tel: 0720 760 220 Abstract: This approach shows a research on the usage of managemental methods on the internal audit activity through qualitative and quantitative indicators of performance assurance. Balanced Scorecard, the management method and tool, referred to the Dashboard, contributes to the internal audit performance through resource planning, setting objectives and scope of the audit, communication and approval, following the recommendations, deferring to the code of ethics and how to achieve the objectives. The listed indicators, are components of the proposed management methods and tools, and they define efficency, effectiveness, economy and quality, all elements of the internal audit performance. Keywords: methods and techniques, audit, corporate governance, internal control system, performance indicators, Balanced Scorecard, Dashboard. JEL: M 42 1. INTRODUCTION The importance of using the management methods and techniques concerning the internal audit, is given by providing a new approach to this problem, which highlights the need to ensure...
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...Re-examining the cause-and-effect principle of the Balanced Scorecard* Per Nikolaj Bukh, pnb@pnbukh.com, Aarhus School of Business Teemu Malmi, teemu.malmi@uts.edu.au, University of Technology, Sydney & Helsinki School of Economics Abstract There seems to be a wide variety of methods in how organizations apply the Balanced Scorecard (BSC) concept in practice and how it is interpreted in the literature. Consequently, it is not quite clear what the core features of BSC, or its variants, are and if all its variants are equally effective in producing expected outcomes. Moreover, the usefulness of BSC as a practical theory has been questioned by referring to some of its assumptions, especially the cause-and-effect relationship (Norreklit, 2000, 2003). In this paper we re-examine the cause-and-effect principle, which can be seen as one of the corner-stones of the BSC. Further, we outline alternative ways to apply cause-and-effect in practice, both analytically and organizationally. To facilitate research on BSC, we discuss some of the contingencies that may limit or support the usefulness of the causeand-effect concept. These include strategy, organization, environment and communication related issues. Key Words: Balanced scorecard, cause-and-effect, non-financial measurement, performance management, strategy, strategy map. * We wish to thank the editors, Sten Jönsson and Jan Mouritsen, for their guidance in the process of writing the paper. Further, we thank Fredrik Nilsson and Nils-Göran...
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...Balance Scorecard The balanced scorecard is a tool for management that facilitates the efficacious implementation of strategies instigated by an organization. This is an implement that has been measured expansively in study as well as practice (Figge, Schaltegger & Wagner, 2002). By linking organizational activities that are non-financial and functioning with fundamental chains to the organization’s long-lasting method, the Balanced Scorecard supports the appointment and administration of all corporate activities in agreement with their strategic implication. In theory, value-based sustainability management makes an endeavor to take into consideration the matter of business offerings and impacts on sustainability in an integrative way (Figge, Schaltegger & Wagner, 2002). It suggests that for companies to improve sustainable development, it is suitable for commercial performance developments in all three extents of sustainability, which include: social, economic and environmental, in a coordinated way. The Balanced Scorecard is considered to be a proper and efficient component when it comes to alignment. It can facilitate budget synchronization or management purposes by interconnecting strategy to administrators or supervisors, offering them a proper course. Similarly, it can aid executives to be able to supervise strategic advantages and creativities, interconnect and financial activities (Kumari, 2011). The vibrant representation of strategic significances by the Balanced...
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...Strategic Plan, Part III: Balanced Scorecard BUS/475 July 10, 2014 Forward The document relates to the methods which organizations use in creating as well as executing methods. Specifically this document would discuss the method of balanced scorecard or BSC method which is extensively getting used by big as well as small companies. To elaborate the concept papers would cope with the use of the idea to the business design of an organization known as Ace Gym. As soon as the organizations’ importance, objective, perception and profits are evaluated after that the strategic plan of balanced scorecard can be developed considering them. The document would also concentrate on the contingency planning, danger elimination and moral dimensions of the developed plans. The Balance scorecard The BSC method can be shown as a method which evaluates the efficiency of the company through four main areas i.e. economical, client, inner business procedures and research and development (Bergen & Benco, 2007). These four areas can be described keeping in consideration the organization’s (Ace Gym) objective, perception and value declaration as: 1) Financial Gym Ace would have to concentrate on developing a competitive edge for itself through allocation of correct adequate sources...
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...Guide to a Balanced Scorecard: Performance Management Methodology Guide to a Balanced Scorecard Performance Management Methodology Richard H. Hopf Deputy Assistant Secretary for Procurement and Assistance Management Department of Energy David J. Litman Director, Office of Acquisition and Grants Management Department of Transportation Lloyd W. Pratsch Procurement Executive Department of State Ida M. Ustad Deputy Associate Administrator for Acquisition Policy General Services Administration Robert A. Welch Director for Acquisition Management and Procurement Executive Department of Commerce Terrence J. Tychan Deputy Assistant Secretary for Grants and Acquisition Management Department of Health and Human Services Pauk A. Denett Director of Administration/Senior Procurement Executive Department of Interior Moving from Performance Measurement to Performance Management Guide to a Balanced Scorecard: Performance Management Methodology Preface T he members of the Procurement Executives’ Association (PEA) - an informal association of civilian procurement executives - have redesigned their programs for performance evaluation and management of acquisition systems. They have moved from headquartersbased, process-oriented oversight programs to ones which rely more on self or local assessment of performance against departmental or agency expectations. Through the use of assessment approaches based on performance measurement models developed by a federal...
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