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 David
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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 Norton
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1. COMPANY’S BACKGROUND Standard Chartered Bank was formed in 1969 through the merger of two separate banks‚ the Standard Bank of British South Africa and the Chartered Bank of India‚ Australia and China. The Chartered Bank The Chartered Bank was founded by James Wilson following the grant of a Royal Charter by Queen Victoria in 1853. The bank opened in Mumbai (Bombay)‚ Kolkata and Shanghai in 1858‚ followed by Hong Kong and Singapore in 1859. The traditional trade was in cotton from Mumbai
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“Certain financial analysis may be adversely affected by a company’s accounting methodologies. For example‚ accelerated depreciation may overstate the true depreciation cost to the company. Debt may be financed through various subsidiaries or off-balance sheet accounts. Thus‚ when reviewing the results of a financial analysis‚ an analyst must be aware of the financial accounting methodologies employed by the company. These are often discussed in the notes to the financial statements”. (By Jason P
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MKTG 6010 Nestle Refrigerated Foods: Contadina Pasta & Pizza Anthony Garver Issue: In 1990‚ Nestle Refrigerated Food Company (NRFC) considered the release of a refrigerated pizza product into the U.S. market. Stephen Cunliffe‚ President of the NRFC‚ had managed the release of refrigerated pasta and sauce three years earlier‚ but this time faced production challenges‚ distribution challenges‚ and an unknown sales volume for the proposed product. Would there be enough demand for the pizza and would
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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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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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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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A Balanced Scorecard is‚ “A set of four measures directly linked to a company’s strategy: financial performance‚ customer knowledge‚ internal business processes‚ and learning and growth” (Pearce & Robinson‚ 2009‚ p. 202). 123 See M3e Free Bail bonds need to develop a balanced scorecard to assist in defining the company’s mission‚ values‚ vision‚ and SWOTT analysis. Perspectives A balanced scorecard suggests the company collect data and analyze the perspectives view of the organization learning and
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pp. 147–160 COMMENTARY Transforming the Balanced Scorecard from Performance Measurement to Strategic Management: Part II Robert S. Kaplan and David P. Norton Robert S. Kaplan is a Professor at Harvard University and David P. Norton is founder and president of the Balanced Scorecard Collaborative in Lincoln‚ Massachusetts. In a previous paper (Kaplan and Norton 2001b)‚ we described the role for strategy maps and Balanced Scorecards to develop performance objectives and measures linked
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