p202 (BSZ Chapter 14) o AYB321 Text, Chapter 7 (BSZ Chapter 15) o For reference: Lipe, M and Salterio, S. (2000). The balanced scorecard: Judgemental effects of common and unique performance measures The Accounting Review, 75 (3), 283-389. (on CMD) Overview: Lectures 6 & 7 explore the use of Kaplan and Norton’s Balanced Scorecard (BSC) as a strategic performance measurement and evaluation method. Lecture 6 introduces the BSC by providing the performance measurement
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the importance of the strategy implementation and strategic control systems has been realized and in fact there are numbers of mechanisms that have been designed to ensure entities are organized under the strategic management. For example, management accounting framework, the aim of which is to "capture the dynamics of the relationship between that strategy and control" (Eldenburg, Brooks, Oliver, Vesty, & Wolcott, 2010). These frameworks that are used for strategy and control, help management
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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
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Novi Prastia K. 11/320299/EK/18696 Chapter 2 Summary The Balanced Scorecard and Strategy Map These days, companies use the performance measurement for several roles: 1. To communicate the company’s strategic objectives 2. To motivate employees to help the company to achieve those objectives 3. To help the managers to allocate resources as productive and profitable as possible 4. To provide feedback on whether the company is making progress in improving the processes and meeting
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The Execution Premium: Linking Strategy to Operations for Competitive Advantage Q&A with HBS professor Robert S. Kaplan by Martha Lagace Companies often manage strategy in fits and starts. Though executives may formulate an excellent strategy, it easily fades from memory as the organization tackles day-to-day operations issues, doing what HBS professor Robert S. Kaplan calls "fighting fires." A new book due in August by Kaplan and David P. Norton aims to make strategy a continual process. The Execution
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he Balanced Scorecard (BSC) is a strategy performance management tool - a semi-standard structured report, supported by proven design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.[1] It is perhaps the best known of several such frameworks (it is the most widely adopted performance management framework reported in the annual survey of management tools undertaken
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the framework called the Balanced Scorecard (BSC), by Robert Kaplan and David Norton, translates an R2i's mission and strategy into a comprehensive set of performance measures that provides the framework for a strategic measurement and management system. The BSC was developed to measure both current operating performance and the drivers of future performance. The objectives and measures on a Balanced Scorecard should be derived from the business unit's strategy. A scorecard should contain outcome measures
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Balanced Scorecard Introduction How can a balanced scorecard be utilized for optimum organizational performance in my organization – Cleveland Clinic? Within today’s complex environments many organization have pinpointed that an accurate understanding of their particular goals and the methods that they implement in order to achieve these goals is vital, this is also true with healthcare organizations. Organizations have come to the conclusion that no simple one measure can provide a clear
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UPS UPS F ounded in 1907, UPS delivers approximately 21 million packages per day. Every minute around the world, the organization is entrusted with 2 percent of the global gross domestic product. UPS’ business enables the movement of goods, information, and funds through one integrated network that operates in more than 200 countries and territories. UPS provides supply chain solutions through supply chain design and planning, transportation and freight services, logistics and distribution
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organization and management. The operational performance metrics, from the Service Level Agreements that form the terms in which the alliances are joined, are dated in nature because of the focus on meeting the metrics versus looking the overall strategy and vision. The lack of focus on the vision by company’s leaders causes them to manage their business individually and downwardly. Stemming through to middle management, then down to employee level. This management practice tends to cause a
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