Chemical Bank : Implementing the Balanced Scorecard Submitted By : Group 12 KUSHAL KISLAY FT151093 MEHUL JAIN FT152088 SIDDHARTHA PAUL FT154003 VIVEK KHATTAR FT154063 JAYANTH SATHEESH FT152025 Background • Chemical Banking Corporation was performing a radical organizational transformation into a marketfocused and customer-focused organization after the 1991 merger with the Manufacturers Hanover Corporation. • Shift its image from a narrow provider of traditional financial services to a broader
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Perspective Learning and Growth Perspective Kendell Moore Dr. JD Eveland BUS499 Case 4 Learning and Growth Perspective Introduction Measures in the Learning and Growth perspective of the Balanced Scorecard are really the enablers of the others perspectives. In essence‚ they are the foundation upon which the Balanced Scorecard is built. Susan Johnson of Futura identify measures and related initiatives in your customer and internal process perspectives‚ you can be certain of discovering some gaps between
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Denrell‚ J.‚ 2005‚ ‘Should we be impressed with High Performance?’‚ Journal of Management Inquiry‚ Vol. 14‚ No. 3‚ pp. 292-298. This article discusses the common assumption that high performing firms have efficient management and organisational processes thus differentiating themselves from lower performing firms. The article argues that this actually may not be the case and that high performance in firms may actually be the outcome from several variables such as: economic factors; luck; risk
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local patients and patients from outside the Bronx. The strategy‚ termed GRIP (page 3)‚ provided four imperatives to be utilized in the development of the two streams of care. The implementation of the Balanced Scorecard developed at Harvard was used to measure and manage performance‚ with scorecard development to be performed for each section of the organization. Issues and Analysis: Despite some success in meeting envisioned targets for MMC‚ financial‚ organizational and strategic challenges
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combined balanced scorecard (BSC) and fuzzy AHP; and (3) it explored practical application and illustrated the efficacy of the procedures and algorithms. It used a real-world case study in a large steel manufacturing company to present the applicability of the system. Finding SBU priorities would help the corporations to develop strategies and policies to manage and improve SBU performance. Keywords Strategic business unit Á Innovation performance management Á SBU performance Á Balanced scorecard Á Fuzzy
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The scoiecard tracks the key elements of a company’s strategyfiom continuous improvement and partnerships to tearnwork and global scale. The Balanced Scorecard Measures That Drive Performance by Robert S. Kaplan and David P. Norton what you measure is what you get. Senior executives understand that their organization’s‚ measurement system strongly affects the behavior of managers and employees. Executives also understand that traditional financial accounting measures like return-on-investment
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traditional performance measures do not adequately measure the whole performance of an organisation competing in current markets (Johnson and Kaplan‚ 1987). This brought about the introduction of alternative performance measures such as the Balance scorecard‚ performance prism‚ Fitzgerald and Moon building block model‚ etc. which reflect the changing conditions in the market and considers factors like customer satisfactions‚ innovation‚ globalisation‚ resource utilisation‚ competition‚ flexibility and
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Case Study 7-2: BALANCED SCORECARDS AT BICOCO 1) They realized that balanced scorecards help the departments look beyond their own operations and they could activate everyone in the company by putting sensible goals related to the main goals of the company. Also it improves communications by providing a focal point and common language around the key value drivers of the organization and it helps IT recognized other business areas which enhance the cooperation among departments. Besides‚ it would
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Abstract The purpose of this report is to critically evaluate Balanced Scorecard (BSC) as a performance measurement tool available to Management Accountants. In conducting this study‚ classical and modern literature on BSC as well as its real world applications in a potentially global company was reviewed. It was found that BSC provides valuable information that supports managers in taking strategic as well as tactical decisions. In addition‚ BSC appears to be positively associated with profitability
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September 22-23‚ 2005) -2- Abstract According to Robert Kaplan and David Norton‚ (1992; 1996; 2001; 2004)‚ ’the final linkage from high-level strategy to day-to-day actions occurs when companies link individuals ’ reward programs to the Balanced Scorecard ’. The objectives of this linkage are‚ first‚ to focus employees ’ attention on strategic priorities‚ and second‚ to provide extrinsic motivation by rewarding employees when they and the organisation reach their targets. Performance related
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