...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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...Sustainable Solutions Paper Sustainable Solutions Paper The constant changing of the paint industry climate demands that some innovative technologies to be developed by participating companies. Sherwin-Williams (SHW) has been a fore-runner in the paint industry for over a century. The development of technology has helped the company execute well informed decisions more than ever before. How will SHW use current products and technologies to assist with their various business units become more efficient and operate effectively? The expansion of SHW will depend on its customer service, product development, and its executive management team. The purpose of this paper is to create a sustainable solution in which the company can investigate the strategies suggested to help them develop their present value added services within their business units during the next century. The major focal points of this paper will include an executive summary, an analytical look into the current strategies using different tools such as a SWOT and Porter’s five forces analysis. The five force analysis will determine external events that can have a direct impact on how they conduct business. A general forces analysis will examine the local environment and how it plays a significant part of their growth. The SWOT analysis will shed light on the strengths, weaknesses, opportunities, and threats of the organization. This report will also examine the current SHW strategy and its alignment...
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...A ROAD MAP FOR NATURAL CAPITALISM Business strategies built around the radically more productive use of natural resources can solve many environmental problems at a profit. BY AMORY B. LOVINS. L, HUNTER LOVINS. AND PAUL HAWKEN O ARTWORK BY CRAIG FRAZIER N SEPTEMBER i6, 1 9 9 1 , 3. Small gTOUp of s c i c n t i s t s w a s Isealed inside Biosphere II, a glittering 3.2-acre glass and metal dome in Oracle, Arizona. Two years later, when the radical attempt to replicate the earth's main ecosystems in miniature ended, the engineered environment was dying. The gaunt researchers had survived only because fresh air had been pumped in. Despite $200 million worth of elaborate equipment. Biosphere II had failed to generate breathable air, drinkable water, and adequate food for just eight people. Yet Biosphere I, the planet we all 145 A ROAD MAP FOR NATURAL CAPITALISM of those services doesn't appear on the business balance sheet. But that's a staggering omission. The economy, after all, is emhedded in the environment. Recent calculations published in the journal Nature conservatively estimate the value of all the earth's ecosystem services to be at least $33 trillion a year. That's close to the gross world product, and it implies a capitalized book value on the order of half a quadrillion dollars. What's more, for most of these services, there is no known substitute at any price, and we can't live without them. Some very simple changes to the way we run our This...
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...Australia and New Zealand: Doing business with Indonesia SECTION 1 CULTURAL DIFFERENCES Numerous Australian and New Zealand organisations are looking for business opportunities in Asian nations as Asian nations are in developing stage and they offer limitless business chances to officially created countries. Here, we are going to examine the business development of Australian and New Zealand associations in Indonesia. To start a business in a foreign country, it is crucial to understand the culture, social, customs and language of the country to be successful (Morrison & Conoway, 2006). Culture Hofsetede has sorted social contrasts into three wide classifications i.e. National society, Business Culture and Organizational society. National society delineates the political and social limits of the country. Business society includes rules, regulations, qualities and convictions of working together in a specific society (Deresky & Christopher, 2012). National Culture measurements are as per the following: 1. Power Distance 2. Independence/Individualism versus Collectivism 3. Manliness versus Femininity 4. Vulnerability/Uncertainty Avoidance 5. Long term Orientation 6. Indulgence (Kullen & Parboteeah, 2014). The visual chart joined in Appendix 1 indicates how these three nations vary from each other on the premise of aforementioned measurements. Indonesia is at high power separation as contrast with other two nations which implies more reliance...
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...Topics covered include: motivation for a global business outlook, how to proactively access global sources of innovation, coordination and organization of innovation-oriented activities around the world, new product development on a global basis, the role of revitalized global R&D, the growing of prominence of IT, virtual organizations and e-Business, and the increasing role of alliances and linkages with customers, suppliers, and other third parties. Course Structure: This course introduces the latest and most relevant thinking, research and best practices, with an emphasis on learning based on the experiences of actual firms around the world. Individual and team-based project work is an important part of this course. We will be discussing a number of research papers, case studies and relevant reading material during this course. Class interaction is vital to understanding many of the central themes and issues in the area of global innovation. Textbooks: Reverse Innovation, Govindarajan and Trimble, 2012 ISBN-10: 1422157644 ISBN-13: 978-1422157640 The Innovator’s Dilemma, Christensen, 2011 ISBN-10: 0062060244 ISBN-13: 978-0062060242 Case and Readings (HBS): Coursepack: https://cb.hbsp.harvard.edu/cbmp/access/28805771 Course requirements: There will be different types of readings and assignments in this course. First, there is the standard pre-class preparation of all the session readings and cases, which is expected of all participants. Second...
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...New Earth Mining Paper Sample APA Style 1.0. Executive summary This study gives an analysis and appraisal of New Earth Mining (NEM) company investment prospect in the Iron Ore mining industry in South Africa. It looks at the current financial position of NEM and prospective success of the investment via a subsidiary New Earth South Africa (NESA). The analysis methods delve into the estimated returns on investment by use of approximated cash flows. Results of the analysis show that the returns from the investment are likely to be positive. The case study also investigates the financial soundness of NEM and so its susceptibility to new investments (Fruhan & Wang, 2013). The company’s data used is up to date and hence it is reliable making this study meticulous. The project should commence in year 2015 with an initial Investment cost of $200 million, 40% of which will be required in early 2013 and the remaining 60% in early 2014. The investment will include construction, insurance, operating assets and will have $20m worth of working capital. $40 million of loans will be required in 2013 and $120 million of loans required in 2014 (interest accrued over 2013 and 2014 and paid in 2015). Iron ore has high demand from the steel manufacturing industry. It is mined and transported from South Africa by sea to other countries that manufacture steel. This trade has recorded a steady increase of 4.4% over the years. South Africa produces 1 billion tons of ore annually, which puts it...
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...MAKING ENTERPRISE RISK MANAGEMENT PAY OFF Thomas L. Barton William G. Shenkir Paul L. Walker Prentice Hall PTR One Lake Street Upper Saddle River, NJ 07458 www.phptr.com Editorial/Production Supervision: KATHLEEN M. CAREN Executive Editor: JIM BOYD Marketing Manager: BRYAN GAMBREL Manufacturing Manager: MAURA ZALDIVAR Cover Design: TALAR BOORUJY ©2002 Financial Executives Research Foundation, Inc. Published by Financial Times/Prentice Hall PTR Pearson Education, Inc. Upper Saddle River, NJ 07458 Prentice Hall books are widely used by corporations and government agencies for training, marketing, and resale. The publisher offers discounts on this book when ordered in bulk quantities. For more information, contact: Corporate Sales Department, Phone: 800-382-3419; Fax: 201-236-7141; E-mail: corpsales@prenhall.com; or write: Prentice Hall PTR, Corp. Sales Dept., One Lake Street, Upper Saddle River, NJ 07458. All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher. Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 ISBN 0-13-008754-8 Pearson Education LTD. Pearson Education Australia PTY, Limited Pearson Education Singapore, Pte. Ltd. Pearson Education North Asia Ltd. Pearson Education Canada, Ltd. Pearson Educación de Mexico, S.A. de C.V. Pearson Education—Japan Pearson Education Malaysia, Pte. Ltd. Pearson Education, Upper Saddle River, New Jersey A D V I S O R Y C O...
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...around the World. Smart Labels USA is the biggest global event uniquely drawing Executive Level Representatives from the LABEL, PRINTING, PACKAGING, CONVERTING and USER market, teaching; RFID impact on businesses across a wide range of applications such as retail, manufacturing, healthcare, airlines and airports, passenger transport, archiving… RFID implementation – experience from the experts Manufacturing RFID smart labels Cutting edge RFID smart label technologies RFID Market growth – what’s in it for you? In 2006, almost three times the volume of RFID tags will be sold than over the previous 60 years since their invention. Primarily this will be because retailers and military forces are demanding that suppliers fit tags to pallets and cases to save cost and improve service but many other applications will be growing very rapidly. This exponential growth will continue and by 2015, the value of sales of RFID tags will have increased...
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...SETHUMADHAVAN EXECUTIVE SUMMARY Strategy is well explained as the effective use of well laid out plans to achieve success. It is no less of spectacle to attribute strategy to individual achievement, achievement from a company, a country or at the very least a non – financial institute to achieve strategic success. Ford Motor Company has in recent times lost its market share to emerging Asian companies such as Honda, Toyota, Hyundai and Nissan. As a new landscape of economic might surfaces, new car stereotypes are emerging. Finding a place in these segments is proving difficult for Ford Motors and hence need to change its strategies. Hyper-competition combined with tough economic times has pushed Ford to the edge of insolvency. This paper examines the issues that plague the company while using published models to make analysis on how and why the problems occur to better understand their potential impact on the company’s sustainable competitive advantage. Recommendations will seek to give strategic solutions to address the issues identified earlier. This research isn’t structured upon models to identify, analyze and solve issues but rather looks at the core of the problems within Ford Motors and provides models to analyze and solve the issues. TABLE OF CONTENTS Contents INTRODUCTION 1 SECTION 1: STRATEGIC ISSUES AT FORD 2 Underlying Issues at Ford Motor 2 1. Financial 3 2. Competition 4 SECTION 2: STRATEGIC MODELS AND FRAMEWORK SUITABLE FOR ISSUES IDENTIFIED...
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...Book Reviews Thompson, J.D., Organizations in Action (New York: McGraw-Hill, 1967). Yie, Robert K., Case Study Research: Design and Methods, vol. 5, rev. ed. (San Francisco: Sa^e Publications, 1989). Anthony A. Atkinson 955 University of Waterloo Thomas H. Johnson and Robert S. Kaplan, Relevance Lost: The Rise and Fall of Management (Boston, MA: Harvard Business School ftess, 1987) pp. 269. Given the reaction that this book has caused in the management accounting milieu, it seems destined to play an important role in the direction that teaching and research may adopt in the near future. In fact, the accounting literature is already witnessing an increasing number of articles regarding the lack of relevance of management accounting systems (MAS) in the decision making process of the firm. The book of Johnson and Kaplan (J&K) is implicitly divided into three parts. Part I—^The Rise of Management Accounting, chapters 2 through 5, provides an interesting overview of the evolution of management accounting in the United States from the 1880s through the 1920s. According to the authors, MAS were developing and adapting to management's needs, providing relevant, accurate, and timely information. Part II—The Fall of Management Accounting, chapters 6 through 9, analyses and explains the loss of relevance of MAS. Unlike some historians, J&K assert that this was not due to the fact that financial accounting unduly influenced managerial accounting, but to the prohibitive costs of...
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...Solutions Paper [Elizabeth Cole] DBA Strategy [Dr. Timothy Malone] [05/28/11] Sustainable Solutions Paper [Use this template for the sustainable solutions paper exactly as written. Do not add an abstract and do not add additional headings or delete any headings. Provide a brief introduction to the paper here – introduce the subject and tell the reader what will be covered – be specific – provide a list of key sections that will be covered. This is called a “preview;” it is not a synopsis. Note: the word “introduction” is not required in APA. Note: All required headings are provided in this paper – level 1, level 2 headings and are in APA format. DO NOT delete them; just delete the text with [ …] and respond to each heading as the weekly assignments require. Subordinate headings – level 3 are also provided – just respond to them and do not delete them. This introductory section should be about ½ to ¾ of a page and is worth 2 points.] Executive Summary (2 points for week 4 and 9 points for week 7) Maersk Line, (ML) sustainability strategy consists of integrating sustainability systematically throughout all business processes which should indicate the competitive advantage (www.maersk.com[->0]). The name of my Sustainable Resolution Paper is, could ML sustainability strategy be too aggressive? There are five areas of concentrating (group standards, performance management, and trend spotting, stakeholder engagement, capital expenditure, and new business innovations)...
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...point of clarification before you start your journey with the gurus and masters: a Guru is a person who is very knowledgeable and teaches a particular strategy. A Master is a practitioner of the art of strategy in life and in business. Management & Strategy Gurus Main Guru's Index ABCDEFGHIJKLMNOPQRSTUVWXYZ 1 of 41 9/21/2014 3:38 PM http://www.easy-strategy.com/strategy-gurus.html Military Gurus Blog Ask me! Newsletter Clients Privacy Policy Motivational [?]Subscribe To This Site A Igor Ansoff Igor Ansoff The father of Strategic management Igor Ansoff (1918-July 14, 2002) was an applied mathematician and business manager. He is known as the father of Strategic management. He was a distinguished professor at United States International University (now Alliant International University) for 17 years, where several institutes continue his work in strategic management research. Igor was recognized worldwide as the Pioneer and Father of Strategic Management. He was the first management strategy guru to recognize the need for strategic planning for firms operating in the increasingly complex and turbulent environment. Chris Argyris Chris Argyris (born July 16, 1923) in Newark, New Jersey, USA, a Professor Emeritus at Harvard Business School, is more commonly known for seminal work in the area of Learning Organizations which was later developed in the best selling The Fifth Discipline by Peter M. Senge. The work of Chris Argyris has influenced our thinking...
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...How to reference These Harvard-based guidelines are generic and are meant to supplement, not replace, the guidelines given to you for your programme, which are usually provided in your module handbooks. Some subjects make these guidelines available on the portal. You are advised to follow your module/programme instructions exactly for citing and referencing sources, and use this guide for further information only. For further information on a wide variety of sources, consult Pears, R. and Shields, G. (2008) Cite them right: the essential referencing guide. Newcastle upon Tyne: Pear Tree Books. Contents: 1. In-text references / citations This means how to put references in the body of your assignment, and this section includes the following cases: 1. A typical reference - what to include and what not to 2. Incorporating others’ material - words and expressions to use 3. Author's name occurs naturally in the sentence 4. Author’s name does not occur naturally 5. Page numbers - when to use them 6. More than one cited document by the same author(s) in the same year 7. Two authors of one work 8. More than two authors of one work 9. Dictionaries, encyclopaedias or other collaborative works with several authors 10. No originator 11. Newspaper where no author is given 12. Corporate authors or organisations where no individual’s name is indicated 13. Year...
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...How to reference Contents: 1. In-text references / citations This means how to put references in the body of your assignment, and this section includes the following cases: 1. A typical reference - what to include and what not to 2. Incorporating others’ material - words and expressions to use 3. Author's name occurs naturally in the sentence 4. Author’s name does not occur naturally 5. Page numbers - when to use them 6. More than one cited document by the same author(s) in the same year 7. Two authors of one work 8. More than two authors of one work 9. Dictionaries, encyclopaedias or other collaborative works with several authors 10. No originator / Anon 11. Newspaper where no author is given 12. Corporate authors or organisations where no individual’s name is indicated 13. Year of publication unknown 14. Secondary sources (one author referred to in another’s text) 15. Different authors saying the same thing 16. Author in an edited book 17. Diagrams, photos, charts, maps and other illustrations 18. Unsure whether to cite or not? 19. How many references should there be? 20. Compare, comment and critique 2. Reference list or bibliography This means how to make a reference list or bibliography (this section describes the difference between the two) at the end of your assignment for the following...
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...School, University of Pennsylvania, Philadelphia, PA 19104 E-mail: armstrong@wharton.upenn.edu Phone 610-622-6480; Fax 215-898-2534 Kesten C. Green, Department of Econometrics and Business Statistics Monash University, VIC 3800, Australia E-mail: kesten@kestencgreen.com Phone +64 4 976 3243; Fax +64 4 473 0643 February 21, 2006 IJB05CmObj27.doc International Journal of Business (forthcoming) Abstract Competitor-oriented objectives, such as market-share targets, are promoted by academics and are commonly used by firms. A 1996 review of the evidence, summarized in this paper, indicated that competitor-oriented objectives reduce profitability. However, we found that this evidence has been ignored by managers. We then describe evidence from 12 new studies, one of which is introduced in this paper. This evidence supports the conclusion that competitor-oriented objectives are harmful, especially when managers receive information about market shares of competitors. Unfortunately, we expect that many firms will continue to use competitor-oriented objectives to the detriment of their profitability. Key words: competition, market share, objectives, profitability. JEL CLASSIFICATION: L21, M21, M31. 2 Many managers have a natural inclination to want to beat their competitors. Our concern in this paper is the relationship between competitor orientation and performance. We show that competitor-oriented objectives are detrimental to firms’ profitability and that the use of information...
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