Leadership and Strategy Dr. F.M. Sahoo Leadership starts with a dream – a vision of where and what we want to be. If leadership is about showing the way, then what is ‘the way’? The way is the strategy. So leadership necessarily entails strategy. And strategy concerns choices that determine whether an organization survives, prospers or dies. The difference between ‘what we are’ and ‘what we want to be’ creates what Vansina (1999) calls ‘psychic tension’. This tension lies in the feasibility
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Executive Summary According to Bento, “the Balanced Scorecard (BSC) has been proposed as an integrated framework for the implementation of financial and nonfinancial performance measures that helps organizations align their initiatives with the organization’s strategy” (2013). The Balanced Scorecard offers management a system to use in plotting strategic objectives through four perspectives. The financial perspective is determined by the outcome of management’s implementation of the internal processes
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BALANCE SCORECARD INTRODUCTION: A Conceptual Framework for Managing Lodging Brands: A Balanced-Scorecard Approach Abstract: The issue of brand management remains a formidable challenge for lodging organizations and lodging brand managers. This challenge is partly due to the fact that effective brand management requires an all-inclusive and comprehensive organizational approach. This paper proposes a framework that uses the balance scorecard (BSC) as the basis for brand management. The framework
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LRP Long Range Planning 37 (2004) 351–366 long range planning www.lrpjournal.com Implementing the Balanced Scorecard in Greece: a Software 5 Firm’s Experience Alexandros Papalexandris, George Ioannou à and Gregory P. Prastacos The Balanced Scorecard (BSC) is a relatively new approach to strategic management and performance measurement and control, which has generated substantial interest in the academic and industrial communities. This paper presents the experience from the implementation
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“Critically evaluate the use of the Balanced Scorecard as a performance measurement system within organisations”. The Balanced Scorecard is a “strategic planning and management system” that is used at length by all kinds of organisations, stretching from private and public firms, governmental organisations along with non-profit organisations and many others. Traditionally Management Accounting was mainly focused on financial performance measures such as profit and loss figures and balance sheet
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Ian Whadcock 1808 Kaplan.indd 62 12/5/07 5:31:55 PM Successful strategy execution has two basic rules: understand the management cycle that links strategy and operations, and know what tools to apply at each stage of the cycle. the Management System by Robert S. Kaplan and David P. Norton NOT LONG AFTER ITS SUCCESSFUL IPO, the Conner Corporation (not its real name) began to lose its way. The company’s senior executives continued their practice of holding monthly one-day management
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a competitor who wants to wipe you off the map.” – Wayne Calloway, Former CEO, PepsiCo 2 1 External Audit – Sources of Information •Internet •Libraries •Suppliers •Distributors •Salespersons •Customers •Competition 3 External Strategic Management Audit - The macro environment Scanning (PESTEL analyses, Scenarios) - Industry or Sector Analysis (5 forces, industry/product life cycle) - Competitors scanning (Strategic Group Map, CPM) - The Organization responses (EFEM)
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productivity and gain and sustain competitive advantage. Meanwhile, Murray (1998) said KM is a strategy that turns an organization’s intellectual assets and the talents of its members to produce new productivity, value and increase competitiveness. Therefore, we can conclude that KM is a discipline, designed to provide strategy, process, and technology to increase organizational learning. A part from that, strategy is the major plan to be undertaken and allocating resources to organization (Cannon, 1968)
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A PROPOSAL ON HOW TO APPLY THE BALANCED SCORECARD TO THE COLLECTIVE INVESTMENT MANAGERIAL FIRMS. Muñoz Colomina, Clara I. Urquía Grande, Elena Sevillano Martín, Fco. Javier (Universidad Complutense de Madrid) PAPER FINANCED BY THE PROJECT PR1/03-11669 OF THE UNIVERSITY COMPLUTENSE OF MADRID A PROPOSAL ON HOW TO APPLY THE BALANCED SCORECARD TO THE COLLECTIVE INVESTMENT MANAGERIAL FIRMS. Muñoz Colomina, Clara I. Urquía Grande, Elena Sevillano Martín, Fco. Javier (Universidad Complutense
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President & Fellows of Harvard College Align employees to the strategy: Four HR processes 1. Create Strategic Awareness Communicate Communicate Communicate 2. Align Personal Goals Personal Scorecard Make Strategy Everyone’s Job 3. Provide Necessary Skills Strategic Job Families Strategic Readiness 4. Align Personal Incentives Variable pay Team based You need a formal process to improve workforce readiness. Strategy should be linked to existing HR programs for performance
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