Adalia‚ Raphael MGT 132 2/8/13 Aquino‚ Rucelle Ignacio‚ John Christian Serania‚ Maris Stella Denise OBJECTIVE: To define and recognize what a Balanced Scorecard is and its application. What is a Balanced Scorecard? A strategic and management system that is used extensively in business and industry‚ government‚ and non-profit organizations worldwide to align business activities to the vision and strategy of the organization‚ improve internal and external communications‚ and monitor
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The balanced scorecard The balanced scorecard is an approach for the company to transfer the strategies‚ objectives and missions into performance measures. It aims at assist the organization to complete and manage the strategies which the organization set up. The balanced scorecard has different perspectives‚ such as financial‚ customer‚ community and internal processes and employees. And also each perspective has two different indicators‚ lead and lag. Lag indicator is a measurement for the company
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Balanced Scorecard is a framework that focuses on shareholder‚ customer‚ internal and learning requirements of a business in order to create a system of linked objectives‚ measures‚ targets and initiatives which collectively describe the strategy of an organization and how that strategy can be achieved.” The Balanced scorecard retains the traditional financial measures and complements them with measures that are drivers of future performance. The objectives and measures of the scorecard are derived
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BALAncEd ScorEcArd BAckground The balanced scorecard is a set of financial and non-financial measures relating to the company’s mission‚ strategies‚ and critical success factors. The balanced scorecard puts vision and strategy at the center of the management control system. Vision and strategy drive performance measures‚ as opposed to the traditional performance measurement systems that provided their own‚ limited measures to management whether they were needed or not. The goal is
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1. Coursework title: Evolution of Management Accounting discipline and its relationship with other functions in organizations 2. Module Number: ACC2130 3. Module Name: Issues in Management Accounting 4. Academic Year: 2013-14 5. Student First Name: Magali 6. Student Last Name: Bokungu 7. Student ID No.: M00328257 8. Student’s Email ID (MDX): MB1665@live.mdx.ac.uk 9. Student’s personal Email ID: magaliamba@hotmail.co.uk This paper starts with introducing importance of
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Ilduara Busta Corporate Governance in Banking A European Study Corporate Governance in Banking A European Study ISSN 0906-6934 ISBN 978-87-593-8365-0 The PhD School in Economics and Business Administration CBS / Copenhagen Business School PhD Series 15.2008 CBS PhD nr 15 Ilduara Busta - OMSLAG.indd 1 10/06/08 13:53:41 Corporate Governance in Banking Ilduara Busta Corporate Governance in Banking A European Study CBS / Copenhagen Business School The PhD School
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3M Moves to a Customer Focus Using a Global Data Warehouse Dale Goodhue‚ University of Georgia Barbara Wixom‚ University of Virginia Introduction In 1995‚ 3M Chairman and CEO L. D. DeSimone along with his top management team recognized that the focus of 3M had to change. For nearly 100 years‚ 3M manufactured products to make life easier‚ safer‚ healthier‚ and more productive for people in nearly 200 countries. In the excitement of creating innovative products‚ however‚ 3M was ignoring its
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According to Kaplan R. S. & Norton D. P. (1996)‚ the balance scorecard enhances the traditional financial measures with standards for performance in three non-financial areas like relationship between company and customer‚ internal business process and‚ learning and growth. It will assist the company to coordinate its’ operation and ensure all businesses activities parallel to the company’s strategies. The balance scorecard consists of four processes that combine short-term activities to long-term
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business assets Balanced Scorecard Overview Douglas Scherer June 17‚ 2002 Introduction Without metrics‚ management can be a nebulous if not impossible exercise. How can we tell if we have met our goals if we don ’t know what our goals are? How do we know if our business strategies are effective if they have not been well defined? The balanced scorecard as documented by Robert S. Kaplan and David P. Norton in the Harvard Business Review article The Balanced Scorecard - Measures that Drive Performance1
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Balanced Scorecard: The Balanced Scorecard is a comprehensive framework to achieve the company’s vision and strategy. In addition to measuring the financial side‚ the work surface also is added to make up for traditional performance evaluation‚ which emphasizing on financial data. Therefore‚ the Balanced Scorecard can be said a new system of strategic management with the company strategy‚ vision and performance evaluation‚ and not just a performance evaluation system. The Balanced Scorecard is divided
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