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

Impact of environmental factors, Political Factors Political stability o...

Political Factors Political stability of parties and their actions like granting etc might also influence the business expansion plans of Bread Talk up to lesser extent in Singa

Explain the importance of strategy development, Question 1: Custom Wine...

Question 1: Custom Wine Colorado Glasses of Leadville, Colorado, has just collected data from 75 defects from the day's production. a) As quality expert, you decide to con

What do you mean by dividend cover, Q. What do you mean by Dividend cover? ...

Q. What do you mean by Dividend cover? Dividend cover  Dividend cover   =   Profit available to ordinary shareholders (PAT) / Annual dividend (no. of times) Or = EPS/Divi

Benefits of shared service centres, Q. Benefits of shared service centres ?...

Q. Benefits of shared service centres ? ¸ Economies of scale e.g. sharing overhead of a centralised function or process across divisions in the same group, it avoids divisions

Explain shared service centre model, TFX is a multinational company which m...

TFX is a multinational company which manufactures and retails branded designer clothing with business units in a number of different countries globally. Up unless now, each of the

Establish long-term objectives with strategy process, Establish long-term o...

Establish long-term objectives Live Business News investigated that ‘The market researchers AC Nielsen expect that Aldi will expand its branch network in the few urban centers

Strategic plan, Adelphi is situated in a large regional centre about 100kms...

Adelphi is situated in a large regional centre about 100kms from the capital city. It has a population of 150,000 in the regional city itself and the surrounding area, predominantl

Free cash flows, Free cash flows can be arrived at by using the following c...

Free cash flows can be arrived at by using the following calculation Operating profit before interest and tax (PBIT) +                                              Depreciati

Explain functional strategy, Explain Functional strategy Functional st...

Explain Functional strategy Functional strategy for J plc will be concerned with how the constituent parts of the organisation can effectively deliver the corporate and busin

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