Process to implement balanced scorecard, Strategic Management

Assignment Help:

Q. Process to implement balanced scorecard?

1. A clear vision of introduction of a BSC communicated and demonstration which senior management are committed to the idea.

2. Education given to all managers and staff of the concept of the BSC e.g. workshop seminar or letter to staff for better understanding.

3. According to Kurt Lewin's three stage approach to change, unfreeze existing beliefs by creating dissatisfaction with the current situation, hold consultative meetings and presentations, educate and communicate the reasons why change needs to occur.

4. Participation encouraged by all staff and management to aid change e.g. consultation and evaluation of different solutions, keep an open mind and listen to those affected.

5. Plan and determine how change needs to take place and set objectives and timescale for the introduction of a BSC system.

6. Implement change e.g. systems introduced for gathering information as well as training given to staff andmanagers.

7. Staff appraisal systems and Reward modified and linked to performance measures.

8. Review and feedback obtained periodically to ensure the change process has been successful, and frequent updating of certain measures if they are no longer appropriate.


Related Discussions:- Process to implement balanced scorecard

sales of y and the price of x, (a)    What is the estimated equation of th...

(a)    What is the estimated equation of the model:                 SALES(Y) = b  + b PRICE(X)? (b)    What sort of relationship exists among SALES OF Y and the PRICE OF X? Do

Explain about financial analysis, Q. Explain about Financial analysis? ...

Q. Explain about Financial analysis? The objective of financial statements is to provide information to all users of accounts to help them for decision-making.  Note that most

Show the quick ratio or acid test, Q. Show the Quick ratio or acid test? ...

Q. Show the Quick ratio or acid test? Quick ratio or acid test   Quick ratio = Current assets less inventories / Current liabilities               (times) This ratio meas

Who are burns and stalker, Q. Who are burns and stalker? Burns and Stal...

Q. Who are burns and stalker? Burns and Stalker in their 1961 book 'The Management of Innovation'explained two organisational types signifying a spectrum which organisations co

Planning, what is describe as strength and weakness in strategic planning

what is describe as strength and weakness in strategic planning

Relative value of growth, does this concept fit in under the evaluation of ...

does this concept fit in under the evaluation of strategic options

Mensa, Develop a five-year strategic plan with cost estimates and a time li...

Develop a five-year strategic plan with cost estimates and a time line. It should be 5-7 double-spaced, typed (12 point) pages plus exhibits. Your plan should include/address the f

Beyond budgeting, A philosophy that believes traditional or conventional bu...

A philosophy that believes traditional or conventional budgeting methods are of little use to management, however beyond budgeting does not believe that budgeting within organisati

Presentation on data requirements for the environment, Consider the Chester...

Consider the Chester River Health System (CRHS) Strategic Planning example. Taking information only from these two sources into account, formulate an Environmental Assessment of CR

Illustrations of internal failure cost, Illustrations of internal failure c...

Illustrations of internal failure cost The internal perspective may control performance by assessment of internal quality failure.  Costs incurred before customer has received

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