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A new technique to strategic management was developed in early 1990's by Drs. Robert Kaplan (Harvard Business School) and David Norton. Kaplan and Norton explain the innovation of the balanced scorecard as follows:
'The balanced scorecard retains traditional financial measures. However financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships weren't critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation."
The balanced scorecard suggests that we view the organisation from four perspectives and develop key metrics, collect data and analyse it to measure, monitor and control performance.
Q. Multidimensional performance measurement? Multidimensional performance indicators recognise that the constant drive to increase profitability can ultimately be self-defeati
project on mission of a successful organization
explain strategy as an organisational process
Hamadi Corporation manufactures an electronic component 'AZ-101'. This component is significantly different from its peer companies and has gained a high repute. The company presen
TicketID: EM201729KAT59SM where is my assignment,. I would like to track process.
Q. Diffrence between ROCE and RI? Both ROCE and RI are good measures to use when assessing financial performance, since both consider the capital invested, as well as the profi
Question 1: Mauritian sugar companies decide to go and invest in sugar cane farming and sugar production in an African country. What sort of study must they carry out on the co
Q. Explain about Opportunity cost pricing? Opportunity cost pricing is considered most mathematically correct way of viewing transfer pricing. Reason is that it looks at transf
1. Output standards are easily convertible into labor costs per unit of output. 2. Output standards facilities scheduling and controlling the flow of production thr
Which is more important in explaining the success or failure of companies: strategising or luck?
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