------------------------------------------------- ------------------------------------------------- Balanced scorecard for the automotive industry ------------------------------------------------- ------------------------------------------------- TABLE OF CONTENT 1. Introduction 2. Balanced Score Card development 3. Balanced Score Card in the automotive industry 4.1. Learning and growth perspective 4.2. Financial perspective 4.3. Customer perspective 4.4. Internal business process perspective
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KEY BENEFITS OF BALANCED SCORECARD Better Strategic Planning The Balanced Scorecard provides a powerful framework for building and communicating strategy. The business model is visualized in Strategy Maps which forces managers to think about cause-and-effect relationships. The process of creating a Strategy Map ensures consensus is reached over a set of interrelated strategic objectives. This means that both performance outcomes as well as key enablers of future performance (such as the intangibles)
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Wendy’s International: Balanced Scorecard |Area of Objectives |Measure of Target |Time Expectation/Targets |Primary Responsibility/Initiatives| |Customers | |High quality |Customer/industry surveys with an |Every month; |Quality Management – Set high | |
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planning‚ resource‚ implementation and funding for projects normally developed from the strategic plan. An operational plan should contain indicators to measure progress and performance. When written an operational plan will be defined by the following questions - Where are we now? - Where do we want to be? - How do we get there? - How do we measure our performance? Operational plans also comprise responsibility‚ allocation and contingency for variation. Contingency planning is the development
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Balanced Scorecard and Strategy Map BI430-001 Data Visualization Balanced Scorecard: Part of a system that translates strategy into action. Also‚ gives a balanced view in four perspectives of how well an organization is driving execution and how successful the results are. The four perspectives in the balanced scorecard and strategy map give executives a more balanced view of their organization. Strategy Map: Represents how an organization
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Homework #2 Five Forces Model for Apple 1/30/14 Rivalry amongst competing firms – Apple is in the unique situation that it has its own proprietary operating system and only used by Apple. So although the competition is fierce for customers‚ it is a different type of battle for Apple than for others such as Samsung‚ Google or Microsoft. Apple does face stiff competition but it is in the battle for use-case preference. The Android or Windows OS is different than the Apple iOS and consumers
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CHAPTER 3: ATTITUDES AND JOB SATISFACTON CASE: JOB CRAFTING (Prepared by Nguyen Quang Luan) Question 1: WhaWhy do you think many people are in jobs that are not satisfying? Do organizations help people craft satisfying and motivating jobs‚ and if not‚ why not? I think many working people are in jobs that are not satisfying due to facet that they are experiencing at work such as work itself‚ Pay‚ Promotion‚ Supervision‚ Co-Workers and Overall facet. The Fatima case shows
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As depicted in figure 2‚ the balanced scorecards would reflect the strategy of the organisation in a manner that can be translated easily to all stakeholders within the organisation. (Kaplan‚ 1992) states that organisations need to align the recognition and rewards of their employees to the entire balanced scorecard. Levi Strauss would need to review the incentives of the employees from cash flow focus to the balanced scorecard described above. Once the linking of objectives to critical success factors
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A Balanced Scorecard for General Practice Andrew Ridley Director of Primary and Community Care Commissioning Tower Hamlets PCT Overview • Why a BSC ? • How was it developed ? • What’s in it ? • How is it being implemented ? • Barriers and issues • Improvements delivered as a result ? • What next ? Why a BSC ? • A Focus on our role as Commissioner • Variation in quality between practices • Are the poor always poor ‚ or the good really always good ? • Support a move from anecdote to transparent
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Balanced Scorecard Traditional Performance Measurement Historically‚ the measurement system for business has been financial. Activities of companies were measured and monitored through the traditional financial accounting model. However‚ the extensive‚ even exclusive use of financial measurements in business has been criticized primarily because an overemphasis on achieving and maintaining short-term financial results can cause companies to overinvest in short-term fixes and to underinvest
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