Bringing the Balanced Scorecard to Life: The Microsoft Balanced Scorecard Framework White Paper By: Charles Bloomfield Insightformation, Inc. Published: May 2002 For the latest information, please see http://www.microsoft.com/business/bi/ Abstract This paper describes the Microsoft® approach to developing and implementing a Balanced Scorecard for enterprise performance management. It presents basic information on the Balanced Scorecard performance management
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Linking the balanced scorecard to strategy 1. Managers need to operate multiple measurements of business-unit performance 2. BSC * Most of non-financial measures have limitations (e.g. customer satisfaction, employee attitude) a. Only report how worked in the past, but no guidance on how to operate in the future. b. Measures are genetic, irrelevant to specific strategy objects * Measures on a BSC should be derived from the business-unit’s unique strategy (translate the vision
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Summary Chapter 4: ‘’Dimensions of organisation structure’’ A central question in this chapter is how to actually compare organisations and its structures. One thing to do is to look at the complexity of the organisation. Complexity is the degree of differentiation within an organisation. Horizontal differentiation indicates the number of different groupings within organisations. Vertical differentiation indicates the number of hierarchy levels from the ‘’top’’ to the ‘’bottom’’ and spatial dispersion
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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
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continue to improve and create value? How do we look to shareholders? The Balanced Scorecard is a set of measures that gives top management a fast but comprehensive view of the business. It details both financial and operational measures by focusing on four parameters: Innovation and Learning Perspective, Internal Business Perspective, Customer Perspective, and Financial Perspective. By adopting the Balanced Scorecard, Chadwick, Inc. will create a report that includes financial measures of results
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organisational goals. Performance measurement may sound simple, but is often a complicated process that requires deep strategic thinking and assessment. Performance measurement systems (PMS), such as Kaplan and Norton’s (1992, 1996a) Balanced Scorecard, focus on organisational performance and, although the impacts of these systems on organisational performance is a much debated question, they may be considered as a means of reaching performance objectives, thus the interest in these systems and
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Final Strategic Plan BUS/475 July 30, 2012 The second part of the proposed athletic apparel company will consist of a SWOTT analysis. SWOTT is an acronym for strengths, weaknesses, opportunities, threats and trends. One of the strengths for JC's athletic apparel is location, location, location. South Texas, particularly Corpus Christi Texas, is currently a hot bed for all kinds of sports and prospective customers are all over the place. Customers range from
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manufacturing costs and period costs? What are the three inventory accounts and how are they presented on the balance sheet? What is gross profit? What is the value chain? What is ERP? What is just-in-time inventory? What is TQM? What is the balanced scorecard? CHAPTER 15 Explain the characteristics and purposes of cost accounting What is Job order costing? What is Process costing? What are the four steps in the Job order flow of costs? Know how to prepare journal entries to record the purchase
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Measurment phase. 8. Discuss with project sponsor, Chapion and other involved stakeholders for verification (Simon, 2010). How to Construct Strategy Maps The Strategy Map, first introduced by Kaplan and Norton (1996) in their book, The Balanced Scorecard: Translating Strategy into Action is essentially just a graphical depiction of an organizations strategy displaying how various initiatives will lead to customer and financial results. Constructing a strategy map can be very beneficial for leadership
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Question 1: How does developing a strategy map and associated balanced scorecard help the leadership team implement the new strategy? Developing a strategy map and associated Balanced Scorecard helps the man-agement team by clearly define the objectives and targets of the new strategy. As it is stated in the case, it is hard to implement a new culture in a company. By identifying the dimensions (Finance, Customer, Internal Process, and Potential and Growth) the management believes will make a
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