measurement system that encompasses all aspects of an organization. Since inventing in 1990s‚ Balanced Scorecard was received a wide range of use and promotion in the global business community‚ including profit and non-profit organizations. The article proposes the application the Balance Scorecard in higher education to improve quality in universities. II/ Literature Review 1. The Balanced Scorecard The Balanced Scorecard (BSC) is a system of measurement which was first introduced by Robert S. Kaplan and
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HKU976 NEALE O’CONNOR MAKING BALANCED SCORECARD WORK TO IMPLEMENT BUSINESS STRATEGIES AT MAGIC TECHNOLOGY In August 2008‚ Magic Technology (“Magic”) launched an initiative to implement the balanced scorecard in its organisation. Alan Lo‚ the chief executive officer (“CEO”)‚ oversaw the implementation of the balanced scorecard at the company’s headquarters. Lo encountered both strategic and execution difficulties during implementation. Yet‚ such difficulties hinted at a more fundamental issue
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Running head: General Dynamics Balanced Scorecard General Dynamics Balanced Scorecard Executive Summary “General Dynamics is one of the market leaders in business aviation‚ combat vehicles‚ weapon systems and munitions; ship building and marine systems; and mission-critical information systems and technology (Corporate Overview‚ 2012).” In 2012‚ General Dynamic’s revenue has expanded from $4 billion to over $32 billion and the workforce has steadily increased from 29‚000 to
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objective measures to review the efficiency of the company taking into account all the dimensions of its operations. (Murali and Punniyamoorthy‚ 2008). Many organisations have introduced a Balanced Scorecard to manage the implementation and measure their Strategies. What is Balanced Scorecard? The Balanced Scorecard (BSC) is a strategic performance management framework that allows organisations to manage and measure the delivery of their strategy. The concept was introduced by Robert Kaplan and David
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THE BALANCED SCORECARD 1 Why businesses need a balanced scorecard The balanced scorecard was developed by US academics Robert Kaplan and David Norton in response to the shortcomings of traditional financial measures. Traditional financial measures are one-dimensional. By definition‚ they only look at the financial aspects of a business. Traditional financial measures are historical. They tell us nothing about what may happen to the business in the future. There are many examples of businesses
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ACC2221 Advanced Management Accounting Coursework CIMA defines strategic management accounting as : ‘A form of management accounting in which emphasis is placed on information which relates to factors external to the firm as well as non-financial information …’ (Drury 7th Edition page 570) Strategic management accounting thus looks beyond cost measurement to focusing on ways to achieve cost reduction and hence strategic advantage for organisations. Many such techniques are outward looking
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OF THE BALANCED SCORECARD The balance scorecard is used as a strategic planning and a management technique. It is widely used in many organizations‚ regardless of their scale‚ to align the organization’s performance to its vision and objectives. The scorecard is also used as a tool which improves the communication and feedback process between the employees and management‚ and to monitor performance of the organizational objectives. There are four different perspectives of balance scorecard which
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Balanced Scorecard MGT 521 Sept 11‚ 2013 Balanced Scorecard Table 1 Balanced Scorecard Aspect of Company Performance Factors to be Considered Organizational Goal Actual Performance Gaps Financial Quarterly Profit Results Return on Capital Employed $5‚000 $4‚000 $6‚000 $1‚500 Quarterly profits were higher than anticipated ($6‚000 versus $5‚000)‚ Return on Capital Employed was much lower than Organization goal ($1‚500 versus $4‚000). Customer Customer Satisfaction Rate
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strategies discussed are Kaplan and Norton’s “Balanced Scorecard”‚ and Porter’s “Five Forces”. Kaplan and Norton present a model that help businesses investigate and understand their internal resources‚ and how to align high-level goals to objectives. Porter’s model attempts to help businesses identify and understand the external forces that affect strategic management and long-term sustainability. Keywords: Strategic Management‚ Balanced Scorecard‚ Measurement‚ Strategic Planning
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has principles that include Honesty‚ Fairness‚ Objectivity‚ and Responsibility [http://www.imanet.org/pdfs/statement%20of%20Ethics_web.pdf]. Therefore‚ it would be up to her to make sure Michael Peterson did not get away with manipulating the balanced scorecard for his benefit. First‚ she should try to speak with him again in a final attempt to get him to reconsider his decision. If he refused to listen and continued threats against Mary‚ she should attempt to speak with his supervisor‚ Paul Parker
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