...Summary: This article is written by Martin E.P Seligman, and is largely about the modern interpretations of happiness and the way psychology has been dealing with improperly by only looking at how to minimize pain and not maximize happiness. He starts the article by recounting some of history of psychology that led to the current state of affairs, beginning at World War 2. He claims that right before WW2 there were 3 main objectives to psychology: curing mental illness, making untroubled people happier, and studying genius/talent. These all fell by the wayside after WW2 however as all of the funding began to flow towards the study of mental illness, not towards the study of mental health. This was mainly because of the increase in both the discovery of mental disorders and also the sheer number of people who were left distressed in the wake of WW2. This led to a huge increase in treatments and cures for many disorders. However it also caused many problems in society and science. There was too much focus put on the minority that had disorders, and not on the majority that, although seemingly bereft of maladies, were not altogether happy. Therefore he states that psychology should be just as concerned about what is right with people as what is wrong. The second section of the article deals with the question of what happiness actually is, because we have to know what it is we are trying to increase. Although science can’t...
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...difficulut to follow a squence when the whole process is so dynamic. 1. How would you describe three IT investment decision-making methodologies? a. Analytical hierarchy process Calculate the overall score of decision-makers’ pair wise comparisons.The Analytic Hierarchy Process (AHP) is a structured technique for organizing and analyzing complex decisions. Based on mathematics and psychology, it was developed by Thomas L. Saaty in the 1970s and has been extensively studied and refined since then. Rather than prescribing a "correct" decision, the AHP helps decision makers find one that best suits their goal and their understanding of the problem. It provides a comprehensive and rational framework for structuring a decision problem, for representing and quantifying its elements, for relating those elements to overall goals, and for evaluating alternative solutions. Retrived from http://en.wikipedia.org/wiki/Analytic_Hierarchy_Process b. Balanced scorecard Evaluate investment from the user’s, business value, efficiency, and innovatiodlearning perspectives. The Balanced Scorecard (BSC) is a strategic performance management tool - a semi-standard structured report, supported by proven design methods and...
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...The Balanced Scorecard: Historical Development and Context, As Developed by Robert Kaplan & David Norton Karl R. Knapp Anderson University – Anderson IN ABSTRACT This paper discusses the general theory of the Balanced Scorecard and traces its historical origins. The Balanced Scorecard is based on three main areas: Measurement, Human Relations, and Customer Value Disciplines. The basis in measurement draws on Management by Objectives. The human relations school of management and open-book management theories are influential. The customer value discipline links the scorecard to the strategy of the firm. The Balanced Scorecard The Balanced Scorecard is a theory and management approach first proposed in the Harvard Business Review by Robert S. Kaplan & David P. Norton (1995). A subsequent book, The Balanced Scorecard, was published following this article (1996). The most recent refinement of this theory and management approach appears in Kaplan & Norton’s book, The Strategy-Focused Organization (2001). This paper attempts to present a high-level overview of this management theory, along with a description of its historical foundation and development. As defined by Kaplan and Norton (1996), “The Balanced Scorecard translates an organization’s mission and strategy into a comprehensive set of performance measures that provides the framework for a strategic measurement and management system”. This strategic management system measures organizational performance in...
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...List of Abbreviations PM Performance Management PMS Performance Management Systems PMT Performance Measurement BS Balanced Scorecard PMA Performance Measurement Analytics Introduction Performance Management (PM) has become an important part of today’s management tools. PM in general tries to increase organisational effectiveness by setting up measurements and goals for individuals, department and the organisation as a whole. It also aims to set goals both strategic and operational for the organisation using PM. To achieve the pre-set goals people and resources working in the organisation need to work as reliable and efficient as possible. To make PM a tool which can be handled in an easier more management friendly way different Performance Measurement Systems (PMS) have been created over time. I am going to talk about one of them The Balanced Scorecard later on. The PMS goal is to link the different performance figures and give a quick and precise view of the company’s performance also taking intangible assets into account. After talking about the theoretical part of PM I try to give an insight in the more personal approach of PM by looking at the behavioural factors contributing to PM. PM needs to be supported by everyone who is part of both the planning and the executing of the tasks. The personal behaviour towards PM and its indicators have especially changed in the last couple of decades due to a shift in the economy from a mostly static work environment with...
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...Electronic Submission Coversheet * Please complete and insert this form as the first page of your electronic submission. * Submit the assignment with attached coversheet electronically through the Wolf E-submission gateway * Please make sure you keep a copy of your assignment. Student Details Student Number | 1429530 | Email | sheana@ceragon.net | Assignment Details Module name | Managing Human Resources | Module Code | 7HR011 | | | For the attention of | Dr. Paschal Anosike | Due date | Friday, 15th May 2015 | | Assignment title | As on brief | All forms of plagiarism, cheating and unauthorized collusion are regarded seriously by the University and could result in penalties including failure in the unit and possible exclusion from the University. If you are in doubt, please read the following web page. Student’s Declaration By submitting this assignment I SIGNAL & DECLARE my knowledge and agreement to the following: - Except where I have indicated, the work I am submitting in this assignment is my own work and has not been submitted for assessment in another unit or for any other purpose. This work conforms to the instructions and submission guidelines as contained in the assessment briefing and the module guide respectively. This submission complies with University of Wolverhampton policies regarding plagiarism, cheating and collusion. I acknowledge and agree that the assessor of this assignment may, for the purpose of assessing...
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...LRP Long Range Planning 37 (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...
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...Business Performance Measurement At the Crossroads of Strategy, Decision-Making, Learning and Information Visualization February 2003 Vince Kellen CIO & Faculty,School of CTI DePaul University Chicago, IL U.S.A. http://www.depaul.edu Abstract Business Performance Measurement (BPM) systems have grown in use and popularity over the past twenty years. Firms adopt BPM systems for a variety of reasons, but chiefly to improve control over the firm in ways that traditional accounting systems have not allowed. Several approaches, or frameworks, for building and managing BPM systems have evolved with the balanced scorecard as the dominant framework in use today. Despite the growing use of BPM systems in organizations of all kinds, significant problems cause firms to experience difficulty in implementing BPM systems. The problems range across a variety of topics: excessive diversity in the field of study, data quality and information system integration problems, lack of linkage to strategy, fundamental differences in how a strategy is formulated and executed in the firm, ill-defined metrics identification processes, high levels of change in BPM systems, analytical skills challenges, knowledge as a social and non-deterministic phenomenon, judgment and decision biases (from prospect theory literature) and organizational defenses that can undermine successful BPM systems use. To help address these problems, a set of critical...
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...E-Marketing SERVICES ADVERTISEMENT SOLUTIONS Version1.0 About us D-Evenement is an organization of some young and experienced dreamers. In D-Evenement we are committed to provide absolute attention to every detail of your event and marketing solution with the highest quality. We enhance the value and image of our clients by not only providing them with exquisite events, creativity and experiences, but also distinctive “fresh ideas”. Through active listening and communication we understand the value and importance of each event. We are committed to undivided attention to every detail of your event with the highest quality. We work together with our clients as a team with common goals. In short, we believe in a balanced score card: • Provide every guest with an experience that exceeds clients' expectation. • Deliver events on target for time and budget. • Be the best, no exception. Here we attach Detail proposal, if you have any query regarding the proposal please feel free to ask because • We Listen. • We Understand. • We Deliver. D-Evenement provides a wide range of advertisement options which would ensure maximum visibility of your products and services among increasing number E-mail Marketing New Customers are just a click away... Millions of businesses use e-mail marketing every day to find new customers and keep them coming back. E-mail marketing is effective, affordable, and best of all; it is the easy way to get your...
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...A PROPOSAL ON HOW TO APPLY THE BALANCED SCORECARD TO THE COLLECTIVE INVESTMENT MANAGERIAL FIRMS. Muñoz Colomina, Clara I. Urquía Grande, Elena Sevillano Martín, Fco. Javier (Universidad Complutense de Madrid) PAPER FINANCED BY THE PROJECT PR1/03-11669 OF THE UNIVERSITY COMPLUTENSE OF MADRID A PROPOSAL ON HOW TO APPLY THE BALANCED SCORECARD TO THE COLLECTIVE INVESTMENT MANAGERIAL FIRMS. Muñoz Colomina, Clara I. Urquía Grande, Elena Sevillano Martín, Fco. Javier (Universidad Complutense de Madrid) Collective investment companies, as other institutions in the financial sector, are actually going through moments of great volatility. Consequently these firms need to reformulate their strategic forecast for the next years. This need arises, among other factors, from the collapse of global financial markets, progressive liberalizations in tax and company regulation and the evolution in information technology. Collective investments are very appealing for small investors, as they allow them to benefit from the skills of a professional management, as well as to spread different risks with a diversified portfolio in the different mutual funds. Nevertheless in moments of crisis such as the world is experiencing now, the great volatility of markets and capital losses clearly offset the attractiveness of the portfolio management. The starting point is to take into account the new scenario now developing in collective investment management firms: increasing competence, less captive...
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...Task 2 | |Satisfactory | |Articulation of Response (clarity, |The candidate provides adequate articulation of response. | |organization, mechanics) | | |A1. Utah Symphony Strengths and |The candidate provides a plausible analysis, with sufficient support, of the financial and leadership strengths and weaknesses of the Utah Symphony before the merger. | |Weaknesses | | |A1a. Steps for Utah Symphony |The candidate provides an appropriate recommendation, with sufficient support, of the key steps Anne should take to address Utah Symphony’s weaknesses. | |A2. Utah Opera Strengths and |The candidate provides a plausible analysis, with sufficient support, of the financial and leadership strengths and weaknesses of the...
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...The Balanced Scorecard What is it? Definition: * The Balanced scorecard is a management system that enables organizations to clarify their vision and strategy and translate them into action. * Scorecard allows for actionable terms derived from company strategy. * Makes it easier for management to carry out strategy. * “A system that balances the historical accuracy of financial numbers with the drivers of future performance, while also assisting organization in implementing their strategies” * The term “Scorecard” signifies quantified performance measures and “Balanced” signifies the system is balanced between: * Short-term and long term objectives * Financial and non-financial measures * Internal and external performance perspectives When it started… * Developed in the early 1990's by Drs. Robert Kaplan and David Norton. * The Balanced Scorecard is the most commonly used framework for ensuring that agencies execute their strategies. * Today, about 70% of the Fortune magazine 1,000 companies utilize the Balanced Scorecard to help manage performance. The Balanced Scorecard Why do it? In just 90 days, Sandia Labs was able to redirect $190,000 in savings by dropping initiatives that didn’t fit their overall strategy. “The BSC has forced our management team to focus beyond financial measures… too often in the past we would get sucked into short-term thinking.” “The BSC dramatically improved our data analysis…...
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...Volkswagen do Brasil: Driving Strategy with the Balanced Scorecard Index: 1. What challenges does Thomas Schmall face upon becoming CEO of Volkswagen do Brasil (VWB)? 2. Describe VWB´s new strategy 3. What are the benefits from having all employees understand the strategy? 4. How does the strategy map and Balanced Scorecard help Schmall and Senn implement the new strategy? 5. What are the strengths and weaknesses of the Scorecard and its implementation? 6. What other actions did VWB take to support strategy implementation? 7. How can Schmall and his team use the scorecard to deal with the challenges faced by company in January 2009? 1. What challenges does Thomas Schmall face upon becoming CEO of Volkswagen do Brasil (VWB)? Before Thomas Schmall was appointed CEO in 2007, he already gained knowledge about Brazil and the subsidiary while reorganizing production in 1999 to 2003 until he was sent back to Europe. This crucial fact helped him quickly adjust to the different company culture, strategy and overall mindset existing in Brazil. Before analyzing the challenges he faced as CEO in 2007, the question arises why he didn´t respond to the known problems during his four years working in Curitiba? VWB would have saved enormous resources, if they had rigorously responded to the problems earlier. Thus VWB suffered eight consecutive years from losses, lost market share tremendously, made the subsidiary bureaucratic and created an atmosphere of apprehension...
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...BALANCED SCORECARD EXAMPLE The following is an example of how one might develop a Balanced Scorecard. The information included is fictional and is provided to simply demonstrate the process. Anytown Hospital has just finished a two-day retreat where they revised and updated their mission and vision statements and drafted a strategic plan. The hospital’s vision statement is: The vision of Anytown Hospital is to be the community’s provider of choice. The hospital’s mission statement is: Anytown Hospital is committed to providing the highest quality of health care through service excellence and compassionate care During their retreat, the hospital board and leadership identified the following strategies to pursue the upcoming year. • • • • Operate in the black with 5% margin by increasing revenues Motivate, recognize and retain staff Provide high quality services Increase utilization of services The Anytown Hospital administrator enlisted the help of the department managers to implement a performance improvement process and Balanced Scorecard. First, they took these strategies and placed them into their appropriate perspectives as follows: Learning and Growth Perspective (Staff & Clinicians) • Motivate, recognize and retain staff • Internal Process Perspective (Quality & Safety) Provide high quality services Customer Perspective (Patients & Community) • Increase utilization of services Financial Perspectives (Business & Development) • Operate in the black with 5% margin...
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...INTRODUCTION The balanced scorecard is a strategic management technique for communicating and evaluating the achievement of the mission and strategy of the organization. A more recent contribution to strategic management accounting that emphasizes the role of management accounting in formulating and supporting the overall competitive strategy of an organization is the balanced scorecard. The balanced scorecard seeks to encourage behavior that is consistent with an organization’s strategy. It comprises of on an integrated framework of performance measurements that aim to clarify, communicate and manage strategy implementation. The need to integrate financial and non-financial measures of performance and identify key performance measures that link measurements to strategy led to the emergence of the balanced scorecard. Only the critical performance measures are incorporated in the scorecard. The scorecard can provide top management with a fast but comprehensive view of the organizational unit. THE CUSTOMER PERSPECTIVE Philips set operating efficiency as its strategic theme. To get more customers to buy the Philip’s products by attract customers with new products, make a promotion every festival time and give free gift for who are buying the Philip’s products. The customer and market segments should be identify by the customer perspective in which the business unit will compete. The revenue element for the financial perspective objectives is make by the customer perspective...
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...www.hbrreprints.org Successful strategy execution has two basic rules: understand the management cycle that links strategy and operations, and know what tools to apply at each stage of the cycle. Mastering the Management System by Robert S. Kaplan and David P Norton . Reprint R0801D This article is made available to you with compliments of SAP. Further posting, copying or distributing is copyright infringement. To order more copies go to www.hbr.org or call 800-988-0886. Successful strategy execution has two basic rules: understand the management cycle that links strategy and operations, and know what tools to apply at each stage of the cycle. Mastering the Management System by Robert S. Kaplan and David P Norton . COPYRIGHT © 2007 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. Not long after its successful IPO, the Conner Corporation (not its real name) began to lose its way. The company’s senior executives continued their practice of holding monthly one-day management meetings, but their focus drifted. The meetings’ agenda called for a discussion of operational issues in the morning and strategic issues in the afternoon. But with the company under pressure to meet quarterly targets, operational items had started to crowd strategy out of the agenda. Inevitably, the review of actual monthly and forecast quarterly financial performance revealed revenues to be lower, and expenses to be higher, than targeted. The worried managers spent...
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