Xacc/280 Week 4 Checkpoint Analysis

I did best at numerical insight (80%), and my results for the rest of the categories was at 60%. I am very surprised, because math is actually my weakest subject (as shown by standardized testing scores, and the fact that I haven’t taken a math course in 3 or 4 years). I actually forgot how to carry a one the other day, so I’m not sure how I managed this. I expected to be best at spatial abilities since I am a design student, and I often have to think about space in 3 dimensions in order to understand how to make models. I can think of a few reasons for my strange results:

I use SharePoint and Outlook primarily to manage multiple project. I created a couple of SharePoint workflow to automate stakeholder’s notifications. SharePoint automatically notifies the stakeholders when the deliverables were available. I also used PostIT and Trello. Yammer was also helpful in keeping in touch with the

A balanced scorecard has four perspectives, Customer perspective, internal business perspective, Innovation and learning perspective, and financial perspectives. By using balanced scorecards, BIOCO knows what the customers needed is. It helps BIOCO to fulfill customers’ need better. For internal business perspective part, BIOCO can clear the corporate vision and strategy. BIOCO can adjust the strategy according to the pervious balanced scorecards. Also the balanced scorecards link everyone in the company and enhance the communications between each other. Meanwhile, Scorecards detailed the company’s business goals to everyone and guide every

The Balanced Scorecard Institute reports that in the 1950’s General Electric was the first to use the Balanced Scorecard approach, but it was not until the 1990’s when Dr. Robert Kaplan a Harvard Business School professor and Dr. David Norton officially titled it the Balanced Scorecard. Once used as only a measurement tool for organizations, it is now a complete strategic planning and management system (Balanced Scorecard Institute, n.d.). Originally, businesses looked at the financial reports to distinguish whether it was a quality company or not. Kaplan and Norton however believed the financial reports only showed past history and an organization must also track how it is performing currently and look at ways to constantly improve future performance. Kaplan and Norton established there are four business segments or perspectives to measure and make improvements on. The four segments

The balanced scorecard seeks to align vision and strategy with four elements of operations the financial, the customer, internal business processes and the learning and growth perspective (Kaplan & Norton, 2013). The customer perspective is evident from the mission, which is customer-focused. Thus, aligning the customer perspective with the mission is the easiest part of balanced scorecard implementation at Cattaraugus. A fault of the Center with respect to this perspective is that it knows what it wants, but does not have a pathway to ensure delivery nor any particular measure of success.

1. As someone with more knowledge of the balanced scorecard than almost anyone else in the company, you have been asked to build an integrated balanced scorecard. In your scorecard, use only performance measures listed previously. You do not have to use all of the performance measures suggested by the managers, but you should build a balanced scorecard that reveals a strategy for dealing with the problems with accounts receivable and with unsold merchandise. Construct the balanced scorecard following the format used in Exhibit 12—8. Do not be concerned with whether a specific performance measure falls within the learning and growth, internal business process, customer, or financial perspective.

Balanced scorecard—A coherent set of performance measures organised into four categories. It includes traditional financial measures, but adds customer, internal business process, and learning and growth perspectives. It was developed by Robert S. Kaplan and David P. Norton in 1992. Benchmarking—A systematic approach to comparing an organisation’s performance

3. The Balanced Scorecard straighten out the production and management process, and is an important way for managers and employees to communicate with each other.

“Balanced Scorecard” System (BSC) is a strategic management concept introduced by Robert Kaplan and David Norton in the early 1990s. The Balanced Scorecard (BSC) contains both financial and operational measures on customer satisfaction, internal processes, and innovation and organizational improvement activities (Kaplan, Norton, 1992).

The balanced scorecard is business management through four perspectives: financial, customer, internal processes, innovation and learning.

To make the balance scorecard accurate, the organizational management team in lines the mission, vision, and strategy of the company into the scorecard. “This depicts the long term and short term success of the strategy. The outcome measures of the balanced scorecard must represent the excellent prior performance and the performance-drivers that lead to the successful and accurate performance.” (Kaplan, R. S. and Norton, D. P.

The balanced scorecard is a performance management tool that assists in the management of an organisation’s business strategy using traditional financial measurements combined with non-financial information (Candle 2008). Kaplan and Norton (1992), the creators of the concept, introduced the business scorecard as 4 main perspectives, customer, learning and growth, financial and internal business process. They breakdown the meaning behind each perspective is as follows: The customer

To bridge the gap between strategy and action, organizations use the Balanced Scorecard, BSC. This tool aligns business activities to the organization’s strategy and vision thereby boosting the internal and external communications as well as monitoring its performance against strategic objectives by incorporating financial and non-financial elements from various perspectives into a single framework. Therefore, the BSC is essential in steering an organization to focus on its most relevant areas that push the organization to success by clarifying performance in relation to the business strategy. An organization can thus use BSC to achieve customer satisfaction through innovation thereby strengthening its financial position, achieve a competitive advantage and retain clients.

The balanced scorecard brings many advantages for companies such as emphases of future organizational performance (capabilities, resources, and business processes), outcomes for customers and the growth and profitability of the organization. When the balanced scorecard is applied management members of the company can follow the results of specific objectives and

This essay examines how balanced scorecard is developed and acts as an increasingly important factor in balancing strategic objectives and measure/KPIs tools used in businesses, industry, organizations and government to integrated and aligned business vision and strategy of the organization. The balanced scorecard has changed from simple performance measurement tool to performance strategy, strategic planning and to management system that fit into current rapid change in business environment. However, this essay will only illustrate specifically in performance measurement framework using balanced scorecard and mainly focus on advantages it’s contributed to business activities. The limitation and criticism of balanced scorecard as a