Overall Strategic Plan Structure KSOM Visionary Goals Strategic Goals Performance Goals Visionary Statements Core Goal‚ Vision‚ Mission‚ Slogan‚ Market. STRATEGY MAP Balanced Scorecard Perspectives & Purpose Descriptions Session Outline … Objectives & Objective Destinations. Strategy Map Objectives‚ Key Performance Indicator‚ Key Result Area‚ Key Responsibility Area‚ Measures and Scores. 1 The Three Key Grid Elements KSOM Grid Name Usage Objectives 1. Allocate and define how each Strategic
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financial measures in this role. In recent years‚ however‚ there has been increasing recognition that financial measures alone will not provide managers with sufficient information to manage a business effectively. Non-financial measures The balanced scorecard 323 must also be used in order to gain a deeper understanding of the business and to achieve the objectives of the business‚ including the financial objectives. Financial measures portray various aspects of business achievement (for ex
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The following paper presents a balanced scorecard for the supply chain management in a hospital. Hospitals strive to operate efficiently while providing the best patient care. By managing the supply chain strategically‚ hospitals can save costs‚ provide better patient care‚ better serve the demands of professional staff and also maintain a sound relationship with its suppliers. According to my understanding‚ the main goal of the hospital that I previously worked was not profitability‚ but to provide
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Module: Supply Chain Management Exercise: Balanced Scorecard Session 4: Supply Chain Performance Management Instructor: Perry Davidson Candidate: Meg (Hongman) Liang Date: Oct 7th‚ 2013 1. State your organization’s supply chain strategy‚ e.g.‚ “to provide customerwith high level of service while contributing to corporate profitability.” The company’s supply chain strategy is “to meet customer needs and advance our technology leadership while creating value for our customers
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of this report is to assess the usefulness of the balanced scorecard (BSC) model within a business and strategic management accounting. To acquire such information‚ the model will be applied to a company and then critiqued giving both the benefits and any practical implications regarding the use of the BSC. The BSC was introduced by Kaplan and Norton (1992) as a new approach to strategic management accounting. ‘The purpose of the balanced scorecard is to guide‚ control and challenge an entire organisation
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Introduction to the Balanced Scorecard and Performance Measurement Systems 1 Chapter 1 Introduction to the Balanced Scorecard and Performance Measurement Systems by Christian C. Johnson From the beginning‚ it is important to understand why measuring an organization’s performance is both necessary and vital. An organization operating without a performance measurement system is like an airplane flying without a compass‚ a Formula One race car driver guiding his car blindfolded‚ or a CEO
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Balanced Scorecard Analysis of Hyundai and Honda Two of the major players in the global automobile industry are Honda and Hyundai (also known as Hyundai Motor Group). These business organizations have global scope of operations‚ and they have maintained considerable growth and expansion in recent years despite the slowdown of the Western economies. The positions of Honda and Hyundai emphasized the capabilities of these firms to maintain a positive and profitable strategic outlook‚ especially in
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The development of the Balanced Scorecard as a strategic management tool 2GC Conference Paper Ian Cobbold and Gavin Lawrie Presented at PMA Conference‚ Boston‚ USA‚ May 2002 © 2003 2GC Ltd. All rights reserved. This document is protected under copyright by 2GC Ltd. The following terms and conditions apply to its use: Photocopying - single photocopies may be made for personal use as allowed by national copyright laws. Permission from 2GC and payment of a fee is required for all other photocopying
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of a Balanced Scorecard The balanced scorecard is a strategic planning methodology used by corporate executives to balance financial concerns (stockholders)‚ customer concerns‚ process concerns and innovation concerns during day-to-day operations. Since each of these four concerns feed the top level strategic vision of a corporation‚ this balance is required to ensure that daily operations are aligned with the long-term strategic vision of the corporation. What Is a Balanced Scorecard? The
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The Balanced Scorecard The Balanced Scorecard is a strategic performance management framework that has been designed to help an organisation monitor its performance and manage the execution of its strategy. It is used to align business activities to the vision and strategy of the organization‚ improve internal and external communications‚ and monitor organization performance against strategic goals. The Balanced Scorecard provides a framework that not only provides performance measurements‚ but
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