Download or read book To what extent does the balance scorecard approach influence both performance appraisal and strategic management written by and published by GRIN Verlag. This book was released on 2020-12-21 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic Paper from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: A, University of Nairobi, language: English, abstract: The current research is based on appropriateness of non-financial metrics in examining firm performance. Therefore, the paper focuses on critical analysis of BSC as a performance measurement tool. That is, the researcher intends to answer the following primary research question: To what extent does the balance scorecard (BSC) approach influence both performance appraisal and strategic management? Specifically, the paper reviews what BSC is and how it is applied in various firms. The paper also attempts to link performance appraisal and strategic management. In doing so, it answers the following study sub questions: How effective is the application of the balance scorecard? What importance does performance appraisal have to the growth of a firm? What are the consequences of not implementing non-financial measures within an organisation? To answer the questions, the researcher conducts a critical literature review of past studies and theories on performance management, strategic management and BSC. The goal of the review is to explain the impact of BSC as a firm performance management tool on the strategic success of the firm. The rest of the paper is, therefore, organized in two sections i.e. literature review and conclusion and recommendations. Literature review section presents a critical evaluation of past studies and theories on BSC and performance management and appraisal. The conclusion and recommendations section summarises the findings and make suggestions for practice and future studies.

Download or read book The Balanced Scorecard written by Robert S. Kaplan and published by . This book was released on 2005 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Balanced Scorecard written by Robert S. Kaplan and published by Harvard Business Review Press. This book was released on 1996-08-02 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Balanced Scorecard translates a company's vision and strategy into a coherent set of performance measures. The four perspectives of the scorecard--financial measures, customer knowledge, internal business processes, and learning and growth--offer a balance between short-term and long-term objectives, between outcomes desired and performance drivers of those outcomes, and between hard objective measures and softer, more subjective measures. In the first part, Kaplan and Norton provide the theoretical foundations for the Balanced Scorecard; in the second part, they describe the steps organizations must take to build their own Scorecards; and, finally, they discuss how the Balanced Scorecard can be used as a driver of change.

Download or read book Measure What Matters written by John Doerr and published by Penguin. This book was released on 2018-04-24 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 New York Times Bestseller Legendary venture capitalist John Doerr reveals how the goal-setting system of Objectives and Key Results (OKRs) has helped tech giants from Intel to Google achieve explosive growth—and how it can help any organization thrive. In the fall of 1999, John Doerr met with the founders of a start-up whom he'd just given $12.5 million, the biggest investment of his career. Larry Page and Sergey Brin had amazing technology, entrepreneurial energy, and sky-high ambitions, but no real business plan. For Google to change the world (or even to survive), Page and Brin had to learn how to make tough choices on priorities while keeping their team on track. They'd have to know when to pull the plug on losing propositions, to fail fast. And they needed timely, relevant data to track their progress—to measure what mattered. Doerr taught them about a proven approach to operating excellence: Objectives and Key Results. He had first discovered OKRs in the 1970s as an engineer at Intel, where the legendary Andy Grove ("the greatest manager of his or any era") drove the best-run company Doerr had ever seen. Later, as a venture capitalist, Doerr shared Grove's brainchild with more than fifty companies. Wherever the process was faithfully practiced, it worked. In this goal-setting system, objectives define what we seek to achieve; key results are how those top-priority goals will be attained with specific, measurable actions within a set time frame. Everyone's goals, from entry level to CEO, are transparent to the entire organization. The benefits are profound. OKRs surface an organization's most important work. They focus effort and foster coordination. They keep employees on track. They link objectives across silos to unify and strengthen the entire company. Along the way, OKRs enhance workplace satisfaction and boost retention. In Measure What Matters, Doerr shares a broad range of first-person, behind-the-scenes case studies, with narrators including Bono and Bill Gates, to demonstrate the focus, agility, and explosive growth that OKRs have spurred at so many great organizations. This book will help a new generation of leaders capture the same magic.

Download or read book Performance Drivers written by Nils-G¿ran Olve and published by John Wiley & Sons. This book was released on 2001-05-08 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Practical Guide to Using the Balanced Scorecard performance drivers Nils-Goran Olve, Jan Roy and Magnus Wetter Since the groundbreaking work of Robert S. Kaplan and David P. Norton, the concept of the Balanced Scorecard has achieved increasing popularity in the business world. Previously, many organizations had built their business objectives around financial targets and goals that bore little relation to a long-term strategic vision. Typically, this leaves a gap between the development of a company's strategy and its implementation. The business scorecard, however, provides a more 'balanced view' by looking at not just-financial concerns, but also customers, internal business processes, and learning and growth. But it is not just a system of performance measurement - by focusing on future potential success it can be used as a dynamic management system that reinforces, implements and drives corporate strategy forward. In this book, the authors draw on their extensive experience with scorecard projects to provide a step-by-step method for introducing the Balanced Scorecard into an organization. This is done through the use of some of the most important practical examples in existence, with case studies from ABB, Coca Cola, Electrolux, British Telecom, Nat West, Skandia and Volvo. The desired strategic control system using scorecards that is presented focuses on creating and communicating a total comprehensive picture to all members of the organization from the top down, a long-term view of what the company's strategic objectives really are, how to make use of knowledge gained through experience and the required flexibility of such a system to cope with the fast-changing business environment. This book will provide senior and operational managers, consultants and business academics with a comprehensive view of emerging Balanced Scorecard practice supported by both business advice and a theoretical foundation. Reflections on the relations between the Balanced Scorecard and other areas, such as TQM, information systems and intellectual capital and knowledge management are also made. Business Strategy

Download or read book Performance Measurement and Management written by Malcolm Smith and published by SAGE. This book was released on 2005-04-09 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Management accountancy has a dynamic role to play in the competitive strategy of modern global businesses. This book sets out key strategic principles and then assesses how management accountancy can affect and direct these strategies. Engaging case studies reveal how theories and concepts translate into real business practice. Throughout, the book emphasizes: - how accounting initiatives can trigger assessment and improvement of performance management - the importance of managerial decision making to good business practice - how today's management accountancy measures against current research Written for advanced undergraduate, postgraduate and MBA students taking courses on management accounting and performance measurement and management, the book will be also of interest to management and business consultants, professional accountants and accounting academics.

Download or read book Scorecard Best Practices written by Raef Lawson and published by John Wiley & Sons. This book was released on 2007-10-05 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scorecard Best Practices: Design, Implementation, and Evaluation expertly shows you how to bridge the gap between Scorecard theory and application through hands-on experiences and useful case studies. It is the one-stop resource you will turn to for the latest tools and know-how to implement corrective changes. Whether you are a CEO, CFO, CIO, vice president, or department manager, Scorecard Best Practices is the book you will keep at your fingertips to get your company running at maximum performance.

Download or read book Performance Measurement with the Balanced Scorecard written by Stefano Biazzo and published by Springer Science & Business Media. This book was released on 2012-01-05 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do we really know the critical phenomena that are linked to how enterprises function and the dynamics of their relationships with customers, suppliers and competitors? Are their decision-making processes founded upon a set of performance measurements that were accurately designed and systematically elaborated? The above questions are the focus of this book, as is the following premise: enterprises need a system to measure their critical performances so they can be managed effectively; metaphorically speaking, enterprises need a “management dashboard” to serve as a navigational aid. A dashboard to show – with as few distortions as possible – the pattern of key variables that characterizes the specific formula enterprises use to face their competitive and social environment.

Download or read book The Strategy focused Organization written by Robert S. Kaplan and published by Harvard Business Press. This book was released on 2001 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Powerful New Approach to Performance Management from the Creators of the Balanced Scorecard In Today's business environment, strategy has never been more important. Yet research shows that most companies fail to execute strategy successfully. Behind this abysmal track record lies an undeniable fact: many companies continue to use management processes-top-down, financially driven, and tactical-that were designed to run yesterday's organizations. Now, the creators of the revolutionary performance management tool called the Balanced Scorecard introduce a new approach that makes strategy a continuous process owned not just by top management, but by everyone. In The Strategy-Focused Organization, Robert Kaplan and David Norton share the results of ten years of learning and research into more than 200 companies that have implemented the Balanced Scorecard. Drawing from more than twenty in-depth case studies-including Mobil, CIGNA, Nova Scotia Power, and AT and T Canada-Kaplan and Norton illustrate how Balanced Scorecard adopters have taken their ground-breaking tool to the next level. These organizations have used the scorecard to create an entirely new performance management framework that puts strategy at the center of key management processes and systems. Kaplan and Norton articulate the five key principles required for building Strategy-Focused Organizations: (1) translate the strategy to operational terms, (2) align the organization to the strategy, (3) make strategy everyone's everyday job, (4) make strategy a continual process, and (5) mobilize change through strong, effective leadership. The authors provide a detailed account of how a range of organizations in the private, public, and nonprofit sectors have deployed these principles to achieve breakthrough, sustainable performance improvements. Presenting a practical, proven framework steeped in rich case study experience, The Strategy-Focused Organization helps solve a universal management problem-not just how to formulate strategy, but how to make it work. Building on one of the most revolutionary business ideas of our time, this important book shows how today's leaders can shape their own companies to meet the challenges and reap the rewards of a new competitive era.

Download or read book The Balanced Scorecard written by Robert S. Kaplan and published by Harvard Business Press. This book was released on 1996 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here is the book - by the recognized architects of the Balanced Scorecard - that shows how managers can use this revolutionary tool to mobilize their people to fulfill the company's mission. More than just a measurement system, the Balanced Scorecard is a management system that can channel the energies, abilities, and specific knowledge held by people throughout the organization toward achieving long-term strategic goals. Kaplan and Norton demonstrate how senior executives in industries such as banking, oil, insurance, and retailing are using the Balanced Scorecard both to guide current performance and to target future performance. They show how to use measures in four categories - financial performance, customer knowledge, internal business processes, and learning and growth - to align individual, organizational, and cross-departmental initiatives and to identify entirely new processes for meeting customer and shareholder objectives. The authors also reveal how to use the Balanced Scorecard as a robust learning system for testing, gaining feedback on, and updating the organization's strategy. Finally, they walk through the steps that managers in any company can use to build their own Balanced Scorecard. The Balanced Scorecard provides the management system for companies to invest in the long term - in customers, in employees, in new product development, and in systems - rather than managing the bottom line to pump up short-term earnings. It will change the way you measure and manage your business.

Download or read book The HR Scorecard written by Brian E. Becker and published by Harvard Business Press. This book was released on 2001-04-11 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Three experts in Human Resources introduce a measurement system that convincingly showcases how HR impacts business performance. Drawing from the authors' ongoing study of nearly 3,000 firms, this book describes a seven-step process for embedding HR systems within the firm's overall strategy--what the authors describe as an HR Scorecard--and measuring its activities in terms that line managers and CEOs will find compelling. Analyzing how each element of the HR system can be designed to enhance firm performance and maximize the overall quality of human capital, this important book heralds the emergence of HR as a strategic powerhouse in today's organizations.

Download or read book Balanced Scorecard Step by Step written by Paul R. Niven and published by John Wiley & Sons. This book was released on 2002-10-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains how an organization can measure and manage performance with the Balanced Scorecard methodology. It provides extensive background on performance management and the Balanced Scorecard, and focuses on guiding a team through the step-by-step development and ongoing implementation of a Balanced Scorecard system. Corporations, public sector agencies, and not for profit organizations have all reaped success from the Balanced Scorecard. This book supplies detailed implementation advice that is readily applied to any and all of these organization types. Additionally, it will benefit organizations at any stage of Balanced Scorecard development. Regardless of whether you are just contemplating a Balanced Scorecard, require assistance in linking their current Scorecard to management processes, or need a review of their past measurement efforts, Balanced Scorecard Step by Step provides detailed advice and proven solutions.

Download or read book Analysis of the Balanced Scorecard as a strategic controlling instrument with an example from the insurance industry written by Alexander Merl and published by GRIN Verlag. This book was released on 2007-08-01 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2007 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, University of applied sciences, Neuss (FOM Fachhochschule für Oekonomie & Management Neuss), language: English, abstract: In view of the growing competition, the increased change in customers’ wants and the potential of new communication and information technologies, more and more companies are faced with the need to permanently adjust and further develop their processes, products and offer. To be able to exist in the market, a company must be in a position to recognise future developments early and include them in the strategy. A company should therefore use management instruments which make it able to adjust strategies quickly and communicate them transparently in the whole company. There is increasing criticism of the classical controlling instruments. It is argued that controlling is supposed to provide management relevant data for the management which do not only include financial historical information as so far, but also include future related non-monetary figures. Against this background the Balanced Scorecard (BSC) is becoming more important. It extends the previous focus on finance issues to assess the performance of a company with a range of other aspects and ratios. The customer perspective, the internal process perspective and the learning and development perspective are supposed to be considered equally next to the financial perspective in the BSC. The targets of this thesis are split into a main target and a sub target. The main target of this paper is split again into two parts: The first part of the main target is to show and to explain the relevant theoretical framework of the BSC, in particular to strategic controlling. The second part of the main target is to analyse the BSC as a strategic management system and to give an overview about this strategic controlling tool as it is seen in academic literature. The sub target of this paper is to provide a link between theory and practice by applying the theory to a current example taken from the insurance industry. The result is a recommendation for a BSC as a strategic controlling instrument for that specific insurance company. With this specific BSC for an insurance company comes also a tool for a well structured evaluation of the chances and risks involved with its application.

Download or read book A Critical Analysis of the Balanced Scorecard with Special Consideration to Its Implications for HRM and HR policy written by Michael Hoffmann and published by GRIN Verlag. This book was released on 2008-08 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2007 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, London School of Economics and Political Science, 25 entries in the bibliography, language: English, abstract: The Balanced Scorecard is designed and implemented as a strategic management and measurement system. It uses a broad range of innovative indicators and enfolds the overall strategy. Especially, it has extensive implications on human resource processes and its strategic orientation within a company. The development and implementation of a complete BSC is associated with the parallel adoption of a high-performance-work-system and a long-term orientated HR-strategy. With support of the BSC, human resource management becomes a partner with business, which manages its employees as adding value assets and includes HRM in business strategy. HRM gains in importance and makes an essential contribution to the business-wide human resource and organisation development. Empirical results show that it is possible to successfully implement the BSC and the involved long-term orientated HR-strategy in both already long-term and stakeholder orientated enterprises and previously short-term and shareholder orientated companies. Different researchers verified that the implementation of a BSC by simultaneous use of a HPWS is associated with an essential improvement of business performance and development as well as better financial results and higher profitability.

Download or read book Implementing the IT Balanced Scorecard written by Jessica Keyes and published by CRC Press. This book was released on 2016-04-19 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goals of an IT balanced scorecard include the alignment of IT plans with business objectives, the establishment of measures of IT effectiveness, the directing of employee efforts toward IT objectives, the improved performance of technology, and the achievement of balanced results across stakeholder groups. CIOs, CTOs, and other technical manage

Download or read book Balanced Scorecard Evolution written by Paul R. Niven and published by John Wiley & Sons. This book was released on 2014-08-04 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: The best plan is useless without effective execution The future of business has become so unpredictable that your five-year plan may be irrelevant next week. To succeed in the modern market, you must constantly assess your progress and adapt on the fly. Agility, flexibility, continual learning, and adaptation are the new rules of business success. A differentiating strategy is crucial, but it will only lead to competitive advantage if you execute it flawlessly. You'll succeed only if you have the right insight for strategic planning and the agility to execute your plan. Balanced Scorecard Evolution: A Dynamic Approach to Strategy Execution provides the latest theory and practice from strategic planning, change management, and strategy execution to ensure your business is flexible, future ready, and primed for exceptional execution. Author Paul R. Niven guides you through the new principles of The Balanced Scorecard and shows you how to apply them to your planning and strategy execution endeavors. Read case studies that illustrate the theory and practice of strategic agility and execution Learn how to create the objectives, measures, targets, and strategic initiatives that can make your plan a reality Use the latest change management techniques to boost strategy execution success Gain the knowledge and tools you need to face your challenges head-on Motivate your employees to change behaviors toward plan accommodation Making a plan isn't enough. You must actually take steps to implement your plan, and this requires excellent leadership skills. Change can be hard, and your organization may be resistant. Balanced Scorecard Evolution: A Dynamic Approach to Strategy Execution provides everything you need to make things happen.

Download or read book Strategic Performance Management written by Bernard Marr and published by Routledge. This book was released on 2006 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing strategic performance management for the 21st-century organization, this book offers a practical step-by-step approach as it navigates readers though the identification, measurement, and management of the strategic value drivers as enablers of superior performance.