Management process of balanced score card, Electrical Engineering

Assignment Help:

Management Process of Balanced Score Card

The BSC (Balanced Score Card) proposes four a new management processes which separately and in combination, contributes to linking long-term strategic objectives along with short-term actions. The processes are:

(i) Translating the Vision

  1. Clarifying the vision
  2. Gaining consensus

(ii) Communicating and Linking

  1. Communicating and Educating
  2. Setting goals
  3. Linking rewards to performance measures

(iii) Business Planning

  1. Setting targets
  2. Aligning strategic initiatives
  3. Allocating resources
  4. Establishing milestones

(iv) Feedback and Learning

  1. Articulating the shared vision
  2. Supplying strategic feedback
  3. Facilitating strategy review and learning

The balanced scorecard could be used as the foundation of an integrated and interactive strategic management system. Kaplan and Norton (1992) have declared that various organizations are using the BSC to:

1.  Clarify and update strategy

2. Communicate strategy throughout the company

3. Align unit and individual targets with the strategy

4. Link strategic objectives to long-term targets and annual budgets

5. Identify and align strategic initiatives

6. Conduct periodic performance reviews to learn about and improve strategy.


Related Discussions:- Management process of balanced score card

Determine the bandwidth required for transmission, 1. A PCM system uses 8 b...

1. A PCM system uses 8 bits per sample and the analog signal is limited to 4.3 kHz. The PCM data is transmitted using (a) BFSK and (b) ASK. Determine the bandwidth required for tra

Total harmonic distortion, Q. Explain the term total harmonic distortion. D...

Q. Explain the term total harmonic distortion. Describes the functionary of a total harmonic distortion analyzer. Total Harmonic Distortion: Nonlinear behaviors of circuit el

Merits and demerits of voltage divider bias, Merits and Demerits of Voltage...

Merits and Demerits of Voltage divider bias: Merits: 1. Not like the above circuits, only one dc supply is essential. 2. Operating point is approximately independent o

Clampers., hint on clamping as a project topic

hint on clamping as a project topic

What is meant by interrupt, What is meant by interrupt? Interrupt is an...

What is meant by interrupt? Interrupt is an external signal that causes a microprocessor to jump to a particular subroutine.

Preventive and regular maintenance, Preventive and Regular Maintenance ...

Preventive and Regular Maintenance Preventive and regular manages of components of the distributions system is necessary to reduce/eliminate breakdowns. Care should be taken t

What do you mean by an assembler, What is an assembler? Assembler: An...

What is an assembler? Assembler: An assembler or macro-assembler usually forms a part of the operating system. This translates an assembly language program in machine languag

Pn junction, charactersticks of pn junction

charactersticks of pn junction

What is interfacing, What is interfacing? An interface is a shared boun...

What is interfacing? An interface is a shared boundary among the devices which includes sharing information. Interfacing is the process of making two dissimilar systems communi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd