...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...
Words: 3416 - Pages: 14
...THE DEVELOPMENT OF HUMAN RESOURCE MANAGEMENT FROM A HISTORICAL PERSPECTIVE AND ITS IMPLICATIONS FOR THE HUMAN RESOURCE MANAGER CHUKWUNONSO Franklyn, franconicostelo@yahoo.com +234 8038765452, 8052829700 Department of Information Technology, Federal University of Technology, Yola ABSTRACT This paper introduces the development of Human Resource Management (HRM) from a historical perspective and explains the debate between HRM and personnel management. Thus, the paper identifies the historical developments and their impacts on HRM, outlines the development and functions of HRM, explains the differences between HRM and Personnel Management, evaluates ‘hard’ and ‘soft’ approaches to HRM, illustrates how diversity is an issue in Human Relations (HR) practice and finally considers HRM as an international issue. It concludes with a discussion about ‘hard’ and ‘soft’ models of HRM and its implications for the human resource manager. INTRODUCTION The term "human resource management" has been commonly used for about the last ten to fifteen years. Prior to that, the field was generally known as "personnel administration." The name change is not merely cosmetics. Personnel administration, which emerged as a clearly defined field by the 1920s (at least in the US), was largely concerned the technical aspects of hiring, evaluating, training, and compensating employees and was very much of "staff" function in most organizations. The field did not normally focus on the relationship...
Words: 4678 - Pages: 19
...a. Management principles are universal in nature explain (5marks) NATURE OF MANAGEMENT To understand the basic nature of management, it must be analysed in terms of art and science, in relation to administration, and as a profession, in terms of managerial skills and style of managers. Management is Combination of Art and Science Management knowledge exhibits characteristics of both art and science, the two not mutually exclusive but supplementary. Every discipline of art is always backed by science which is basic knowledge of that art. Similarly, every discipline of science is complete only when it is used in practice for solving various kinds of problems faced by human beings in an organisation or in other fields of social life which is more related to an art. Art basically deals with an application of knowledge personal skill and know-how in a specific situation for efficiently achieving a given objective. It is concerned with the best way of doing things and is consequently, personalised in nature. During the primitive stages of development of management knowledge, it was considered as an art. There was a jungle of managerial knowledge. It was not codified and systemised. People used it to get things done by others, in their own way giving an impression that whosoever uses it, knows the art of using it. This kind of loose and inadequate understanding of management supported the view that it was an art. Management as a Science Science means a systematic body of knowledge...
Words: 1395 - Pages: 6
...S P E C I A L R E P O R T Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future Clifford V. Rossi Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future Clifford V. Rossi Robert H. Smith School of Business University of Maryland May 2010 2 9946 Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future © Research Institute for Housing America May 2010. All rights reserved. Research Institute for Housing America Board of Trustees Chair Teresa Bryce, Esq. Radian Group Inc. Michael W. Young Cenlar FSB Nancee Mueller Wells Fargo Edward L. Hurley Avanath Capital Partners LLC Steve Graves Principal Real Estate Investors Dena Yocom IMortgage Staff Jay Brinkmann, Ph.D. Senior Vice President, Research and Business Development Chief Economist Mortgage Bankers Association Michael Fratantoni, Ph.D. Vice President, Research and Economics Mortgage Bankers Association Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future © Research Institute for Housing America May 2010. All rights reserved. 3 Table of Contents Executive Summary 1. Introduction: Findings and Recommendations 2. A Model for Mortgage Risk Taking: Growth, P / E and the Fallacy of ROE 3. Data and Model Limitations Data Integrity Economic Environment Mortgage Products and Risk Layering Borrower and Counterparty Behavior 4....
Words: 6191 - Pages: 25
...ement paradign Management Paradigm: The Untapped Power of Process Laws By James A. Brimson BIO: James A. Brimson is President of Activity Based Management Institute (ABMI). He is author of a number of books and articles based on his research and experience working with prestigious organizations. Prior to ABMI, Jim was Partner-in-Charge of Coopers & Lybrand’s International Centre of Excellence for Activity Based Management in London, UK. As Vice President of CAM-I, he originated and was project Director of the Cost Management project that was the original source of ABC as a management tool. Jim can be reached at abmi@tx.rr.com. BLURB: If we are to compete in a dynamic business world; if we are to provide our decision makers with transparent information; if we are create value for our customers; then we must be bold and objectively reevaluate our management practices; we must adopt a management philosophy that mirrors the way the business world behaves! "I dreamed a thousand new paths... I woke and walked my old one" Chinese Proverb Information is the lifeblood of an organization. Information is also one of the most improperly used tools in managing a firm. Organizations become mesmerized with information organized and analyzed according to generally accepted practices and processed with the latest state-of-the-art software. This “formula for success” puts blinders on managers and prevents organizations from viewing information in innovative ways. If an organization...
Words: 6338 - Pages: 26
...mIntroducing the History of Marketing Theory and Practice 1.1 Introduction The global popularity of marketing as a subject for study might suggest that those studying and teaching the subject know what it is that they are studying and how this study should be undertaken. But as we shall see in this chapter and others in this book, this has often not been the case. Marketing as a subject has proved almost impossible to pin down, and there is little consensus about what it means to study marketing. Most organisations now employ marketers. Marketing roles were traditionally found in commercial firms, but increasingly all kinds of organisations feel the need to employ marketers or to commission services from marketing consultants. The popularity and pervasiveness of marketing is, however, a relatively recent phenomenon. Academics have only studied marketing as a discipline in its own right for just over a century, and during its short history the study of marketing has been influenced by many different academic movements, fads and priorities. This variability can be viewed as a positive state of affairs, because it means that the subject is always open to new ideas and new trends. On the other hand, it has the potential to undermine the value of marketing knowledge because there is no general consensus on what the study of marketing should be for, how these studies should be conducted, or what the outcomes should be. Before we can begin to study marketing, we need to understand...
Words: 11093 - Pages: 45
...Western Governors University Professional Roles and Values In this essay I will explain the differences between a Professional Nursing Organization, PNO, and a Regulatory Agency, such as the Board of Nursing, B.O.N., give two examples of how provisions from a nursing code of ethics influence my practice, discuss four traits from the ANA’s code of ethics that will be brought to an interdisciplinary team of healthcare professionals. I will identify a nursing theory and explain how it has influenced my professional practice as well as discuss the contributions of one historical nursing figure has impacted my nursing practice, including modern-day application. I will tell you of a scenario in which I safeguarded two of the following principles for a patient. (Beneficence, Nonmaleficence, Respect for autonomy, and Justice). A. Functional differences between Regulatory Agencies and Professional Nursing Organizations: Functional differences between a professional nursing organization and regulatory agencies can be can be described as Professional organizations advocate for the nurses, whereas regulatory agencies, like the Board of Nursing, regulates nursing licensure and nursing practice. The BONs main duty is to ensure the safety of the public and the patients being served by nurses. Professional nursing organizations provide a group of nurses a way of communicating, sharing information, provide education, lobbying for necessary changes in order to make advances in the nursing...
Words: 3227 - Pages: 13
...Organizational Behavior W. Jack Duncan Book review Meera Iyer Chapters 1. Organizational behavior: defining the field 2. Historical perspective 3. Methodological foundations of organizational behavior 4. Personality development and attitudes 5. The cognitive basis of individual behavior 6. Motivation: Theory and selected research 7. Introduction to small group behavior 8. Leadership behavior and effectiveness 9. Intergroup analysis: Co-ordination and conflict 10. The organization and the individual 11. Environments, organizations and behavior 12. Power relations in organizations 13. Performance evaluation and organizational effectiveness 14. Planned change and organizational development This book is about organizational behavior. It is also a text on management. The objective of the book is to present a research based approach to management from an applied behavioral science perspective. I have summarized each chapter of the book, explaining the main points that the authors wish to communicate. © www.hrfolks.com All Rights Reserved Organizational behavior – Defining the field Organizations are collections of interacting and inter related human and non-human resources working toward a common goal or set of goals within the framework of structured relationships. Organizational behavior is concerned with all aspects of how organizations influence the behavior of individuals and how individuals...
Words: 4349 - Pages: 18
...Organizational Behavior W. Jack Duncan Book review Meera Iyer Chapters 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Organizational behavior: defining the field Historical perspective Methodological foundations of organizational behavior Personality development and attitudes The cognitive basis of individual behavior Motivation: Theory and selected research Introduction to small group behavior Leadership behavior and effectiveness Intergroup analysis: Co-ordination and conflict The organization and the individual Environments, organizations and behavior Power relations in organizations Performance evaluation and organizational effectiveness Planned change and organizational development This book is about organizational behavior. It is also a text on management. The objective of the book is to present a research based approach to management from an applied behavioral science perspective. I have summarized each chapter of the book, explaining the main points that the authors wish to communicate. © www.hrfolks.com All Rights Reserved Organizational behavior – Defining the field Organizations are collections of interacting and inter related human and non-human resources working toward a common goal or set of goals within the framework of structured relationships. Organizational behavior is concerned with all aspects of how organizations influence the behavior of individuals and how individuals in turn influence organizations. Organizational behavior is an inter-disciplinary...
Words: 4360 - Pages: 18
...spreading their wings globally through mergers and acquisitions. During the first four months of 1997, Indian companies have bought 34 foreign companies for about U.S. $11 billion dollars. This impressive development has been due to a growth in inputs (capital and labour) as well as factor productivity. By the year 2020, India is expected to add about 250 million to its labour pool at the rate of about 18 million a year, which is more than the entire labour force of Germany. This so called ‘demographic dividend’ has drawn a new interest in the Human Resource concepts and practices in India. This paper traces notable evidence of economic organisations and managerial ideas from ancient Indian sources with enduring traditions and considers them in the context of contemporary challenges. Intriduction Over many centuries India has absorbed managerial ideas and practices from around the world. Early records of trade, from 4500 B.C. to 300 B.C., not only indicate international economic and political links, but also the ideas of social and public administration. The world’s first management book, titled ‘Arlhãshastra’, written three millennium before Christ, codified many aspects of human resource practices in Ancient India. This treatise presented notions of the financial administration of the state, guiding principles for trade and commerce, as well as the management of people. These ideas were to be embedded in organisational thinking for centuries (Rangarajan 1992, Sihag 2004). Increasing...
Words: 5420 - Pages: 22
...NPO Leadership and Management Midterm Paper Leadership and Managerial Profile of a Not-for-Profit Compiled By: Faizan Irtiza Zubairi Student No. 201329030023 The NPO sector’s ability to provide its services has come under ever-increasing scrutiny with changes in public policy, important client demographic and psychographic shifts, new commercial initiatives, and growing competition from for-profit providers. Although the sector has reacted creatively in many cases, the increasingly complex dynamics is straining the skills and abilities of nonprofit leaders to meet such challenges. Whether in the profit or the nonprofit sector, all organizations fundamentally need strong leadership acumen to execute their strategy successfully. Therefore, ensuring a steady supply of leadership and management is vital. This is indeed a painstaking task since historically the science of management has always had a focus for commercial outcome! The world is increasingly interconnected and vibrant. Leadership sits in the middle of the mix – both initiating trends and reacting to them. While the NPO sector has access to an energetic, passionate, and creative pool of people and to new tools, there are also challenges that make it difficult for organizations and their leadership to thrive. William Ashby’s (1956) Law of Requisite Variety suggests that for organizations to effectively adapt and cope with a complex environment the variety of its internal order must match the variety of the environmental...
Words: 1031 - Pages: 5
...Management and Leadership Topic: Research Paper 3 on CVS CAREMARK CVS Caremark is a company which considers helping mankind on their way to have better health. Their leaders have undertaken such operations which are environmental friendly, carbon reducing goals, engaging colleagues, customers and other stakeholders. Their leaders have been able to strategies in such a manner that they have been able to create a combination of health care services that provide great solutions from planning a pharmacy design to vital delivery of products and services to their customers. As they have a very good leader (CEO) Merlo Paints they have developed such capabilities that includes industry which are leaders in clinical and health managing programs, speciality in pharmacy expertise, excellent customer services and leaders in retail clinics. Leader’s behaviour is influenced by the internal and external constraints which interact with each other and with the leader’s personality and skills. Sometimes severe situations also arise when the leaders are only a figurehead who is unable to implement any strategy or policies to make changes. Internal constraints are those in which CEO’s discretion is influenced by the factors which are internal to the organizations, whereas external constraints are those which includes the organizations primary product and services and the type of market in which the firm operates. The CEO of CVS Caremark takes initiatives in the political processes which...
Words: 1407 - Pages: 6
...HUMAN RESOURCE MANAGEMENT Human Resource management in UK perspectives Contents Introduction 3 Literature review and Critical analysis 4 World War I and II 4-6 Training and development 6-7 Total Quality Management (TQM) 7-8 Conclusion 8 References .............................................................................................................................................9 Introduction The purpose of this essay is to consider the work of Audrey Collin in British perspectives compared to the international perspectives. Secondly to identify human resource issue and look at in British point of view. The studies of HRM by Collins provide us a colourful findings and rich competing theoretical outlook. HRM run through all human resource processes such as recruitment, selection, and performance evaluation as well as formal human resource policies, which direct and to some extent hamper the progress of specific practices; and over arching human resource thought, which state the principles that inform an organization's policies and practices. Ideally, these embrace a system that exert a pull on, develops, motivates, and maintain workers who guarantee the effective operation and survival of the business and its component. To be on familiar terms with HRM in context we must think about how these elements of HRM are affected by the internal and external environments of organizations. The internal organizational contextual factors...
Words: 3018 - Pages: 13
...Introduction As we glance at the evolution of nursing we begin to realize that the practice of today has been built upon 140 years of research that is responsible for the growth and development of evidenced based practice. This paper will explore several theories from Florence Nightingale to today’s theorist in sequence to visualize the development of our current nursing practice Each theorist has its own unique conceptual model that propels our profession to think differently when applied to our practice. Evidenced based practice is therefore a deliberate, intellectual activity by which the practice of nursing is approached in an orderly, systematic manner also known as the nursing process (Walker & Avant, 2011). Historical Timeline Theories are concepts that have been investigated and developed into theory to guide and explain nursing practice. Florence Nightingale was known as the pioneer of nursing theory, the first nursing theory that focuses on the manipulation of the environment for the benefit of the patient which has directed nursing practice for 140 years (George, 20011). Nightingale’s theory is based upon the belief that the force for healing resides within the human being and that, if the environment is appropriately supportive, humans will seek to heal themselves. Her 13 canons indicate the areas of environment of concern to nursing including ventilation, warming, health of houses , taking food, bedding, light, cleanliness of rooms and walls...
Words: 1168 - Pages: 5
...Adult education (andragogy, self-directed learning, informal and incidental learning, and emotions and imagination), education and globalization. These areas were reviewed to identify key elements around Adult education, as well as for how contemporary globalization shapes Adult education. The second section is a research essay building off of the literature review. Andragogy, self-directed learning, informal and incidental learning and emotions and imagination were examined to determine if these adult education philosophies were being practiced in Ontario. Globalization’s impact is a force with widespread reach and implications. Education will be vital for survival in a global community. The effect of globalization on adult education in Ontario was investigated. The principles of andragogy, self-directed learning and informal and incidental learning are evident in Canadian and Ontario teaching practices; however, emotions and imagination are absent in this discourse. Michelle Scott MAIS 701 Adult Education and Globalization 3 PART I: Literature Review: Adult Education and Globalization Michelle Scott MAIS 701 Adult Education and Globalization Introduction 4 Although many of us may think our “school days” are behind us, learning is a continuous part of life. Adult education has been called by many names – training, lifelong learning, continuing education, workplace...
Words: 11503 - Pages: 47
