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
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‘Building a durable corporation requires long-term goals as well as rules to channel investments and - initiatives toward the achievement of these goals. These rules- which I will call “strategy”- have several dimensions. A strategy defines in broad terms where and how the firm will seek to add value, the opportunities it will pursue, the breadth and attributes of the firm’s product lines, its pricing policies, distribution channels, technologies, R & D efforts, and so on.’ (Amar V., 2000 pg 265)
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other related drugs for T- cell related disease already exsisted, however they did not seem as successful as Fodoisine. Therefore this further increased the opportunity for this drug. A. There are three different categories of opportunites that Drucker
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Logistics has developed as an important area or function of business since World War II. It has gone through several phases of development in achieving its present status. It is a critical part of supply chain management. The coordination and, perhaps, integration of the logistics systems of all the organizations in a supply chain are necessary requirements for successful management of the supply chain. (Bowersox etc, 2007) Logistics can be divided into two parts: domestic logistics and international
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CHAPTER 1 INTRODUCTION: WHAT IS STRATEGIC MANAGEMENT? What is Strategy? The term ‘strategy’ proliferates in discussions of business. Scholars and consultants have provided myriad models and frameworks for analysing strategic choice (Hambrick and Fredrickson, 2001). For us, the key issue that should unite all discussion of strategy is a clear sense of an organization’s objectives and a sense of how it will achieve these objectives. It is also important that the organization has a clear sense
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How has this course changed my opinion about the true meaning of leadership? "Management is doing things right; leadership is doing the right things." (Drucker, 2001). My concept of leadership has changed in three main ways. First, I previously used the concept of leadership and management interchangeably. Leadership, clearly, was just “management—done better.” Second, good leadership was just a litany of actions: having a vision, good communication, open-mindedness, and so forth. Third,
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Business ethical norms reflect the norms of each historical period. As time passes norms evolve, causing accepted behaviors to become objectionable. Business ethics and the resulting behavior evolved as well. Business was involved in slavery,[4][5][6] colonialism,[7][8] and the cold war.[9] The term 'business ethics' came into common use in the United States in the early 1970s. By the mid-1980s at least 500 courses in business ethics reached 40,000 students, using some twenty textbooks and at
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right things. Management has been defined as a process of getting things done with the aim of achieving goals effectively and efficiently. Literature Review “Efficiency is doing things right; effectiveness is doing the right things.” (Peter F. Drucker, 2006) “It is knowing exactly what you want to men to do and seeing that they do it in the best and cheapest way.” (F.W.Taylor) “A principle of work allocation and specialization in order to concentrate activities to enable specialization of skills
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yourself, using your skills, knowledge and effort. Other definitions are "administration" and "the process of managing." This appears to fit more the previous way of managing people which is more administrative than strategic. Management guru Peter Drucker (1909-2005) stated that the basic task of a management is marketing and innovation.
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Assignment 1 Basically, people do delay a decision because they want to do the things right (Decision Making Confidence), and it is much more important to do the right thing (Drucker, 2000). People may feel that the future is uncertain, and they should not hurry to make a decision, otherwise, it may leading them to an unexpected negative consequences, therefore, they do delay a decision because they have enough time to evaluate the decision, as well as analysis the information that they had collected
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