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Balanced Scorecard

Transcript: The Result Internal Business Process History An effective balanced scorecard will use all the information gathered from looking at the company from all perspectives and develop a proper measurement system to easily see how effective the company is at become better in all perspectives Intangible assets were accounting for more than 80% of industrial organizations' market value but no way to value it Attempts were made to incorporate these assets to the balance sheet, unsuccessfully Everyone needed a way to properly show value Introduced in 1992 by Kaplan and Norton Looking at only financial performance was proving to be inefficient Companies were searching for a way to measure their intangible assets After a company has integrated its balanced scorecard, the entire organization is able to contribute to the strategy laid out in the beginning. With identifiable goals each member can see what they can do to move the business forward Stakeholder Scorecard Covers customers, shareholders, and employees Does not say "how" to be better KPI Scorecard Internally focused Does not have anything to benefit the customers Four Perspectives of the Strategy Map Customer Learning and Growth This is the final perspective because it is how a company will react and make changes to the negatives brought to light by the previous perspectives. This piece completes the strategy map Why is it important? Philip Swanson Blake Myers Blaine Greer The Scorecard Balanced Scorecard Whether a company is looking for revenue growth or productivity, this perspective will show how to make the shareholders the most happy This perspective ties in the previous two by having a goal to build the franchise, increase customer value, achieve operational excellence, and become a good corporate citizen. Using this perspective companies will look for innovation to build the business rather than only cutting costs "Other" Scorecards 1. Financial 2. Customer 3. Internal Business Processes 4. Learning and Growth Through operational excellence, customer intimacy, and product leadership companies use this perspective to see how to better their relationships with their customers and market share Financial

Balanced Scorecard

Transcript: Balanced Scorecard Begum Sufia: 2900071 Uddin Shakir: 2918040 Turner William: 2906336 Strategy performance management system What is a BSC When you use it History Who uses it How to use it/strategy Dis/advantages The future of BSC 1) Develop strategy 2) Plan strategy 3) Align the organization with the strategy 4) Plan operation 5) Monitor and learn 6) Test and adapt strategy Generates an action plan Strategic Opinions Increases communication Quality Control Produces an Overall view of company performance What happens..... Introduction Proposed in late 1980’s and early 1990’s By Dr. Robert Kaplan and Dr. David Norton By 2004 about 57% of global companies were working with the BSC Constantly Evolving Types of BSC When you do use BSC When you don't use BSC Who uses it BALANCED SCORECARD Government agencies Military units Business industry Non-profit organization The best balanced scorecards reflect an organization’s strategy Meaning there are 1000’s of balanced scorecards all unique to the company using them James Creelman, Naresh Makhijani (2011)‘Creating a Balanced Scorecard For a Financial Services Organization’. West Sussex SAS(2012) Kaplan and Norton’s future vision of the Balanced Scorecard [online] Available at: http://blogs.sas.com/content/cokins/2012/04/17/kaplan-and-nortons-future-vision-of-the-balanced-scorecard/ (Accessed 25th November 2012) Excellence In Financial Management(2010) The Balanced Scorecard [online] Available at: http://www.exinfm.com/training/pdfiles/course11r.pdf (Accessed 24th November 2012) 2GC(2003) The Balanced and its Developments [online] Available at: http://www.2gc.co.uk/pdf/2GC-PMA02-1f.pdf (Acessed 22nd November 2012) Internationaler Controller Verein(2012) What is a Balanced Scorecard? [online] Available at: (http://www.controllerverein.com/Balanced-Scorecard.128144.html (Accessed 16th November 2012) Balanced Scorecard(2012) Balanced Scorecard Basics [online] Available at: http://www.balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid/55/Default.aspx (Accessed 16th November 2012) IIR Middle East(2010) Balanced Scorecard Professionals [online] Available at: http://www.iirme.com/balancedscorecard (Accessed 17th November 2012) Institution for Innovation and improvement of NHS(2012) Quality Service and Improvement Tools [online] Available at: http://www.institute.nhs.uk/quality_and_service_improvement_tools/quality_and_service_improvement_tools/balanced_scorecard.html (Accessed 20th November 2012) Ehow money (2012) The Disadvantages of Balanced Scorecards [online] Available at: http://www.ehow.com/list_6630586_disadvantages-balanced-scorecards.html (Accessed 25th November 2012) Hub Pages(2012)Balanced Scorecard – Advantages and Disadvantages [online] Available at: http://tamarawilhite.hubpages.com/hub/Balanced-Scorecard-Pros-and-Cons (Accessed 25th November 2012) Thank You For Listening History Better used as an employee monitoring tool Not a tool that can be sorted in one night Does not paint a full picture Whether the balanced scorecard is applicable Does not provide firms to make external comparisons Looks at the effect as a whole History 1)Knowledge 2)Skills 3)Systems that your employees will need (learning and growth) Advantages BSC What is balanced scorecard Strategy Disadvantages of BSC 1. Vision Barrier 2. People Barrier 3. Resource Barrier 4. Management Barrier 1st generation BSC 2nd generation BSC 3rd generation BSC The Future of BSC How to use it References Strategic Supply Chain Alliances and Partners Empowering Risk Management Empowering Change Management Power of Software with BSC

Balanced Scorecard

Transcript: # Definition der Mission, Vision, Strategie ## Ableitung der strategischen Themen ### Definition der Aktionen und Kennzahlen Bezugsrahmen Bezugsrhamen 28,000 16 items Two scales CCSF ITTF "I feel it is important to present a lot of facts in classes so that students know what they have to learn for this subject." "In lectures for this subject, I use difficult or undefined examples to provoke debate." "I feel a lot of teaching time in this subject should be used to question students' ideas." Lecture Teaching by giving a presentation on some subject for a time period longer than 20 minutes. This instructional method includes the exchange of questions and answers between the instructor and students. The key characteristic is that the students rarely interact with each other during this learning process. Mastery Learning Designing summative assessment check-points into the instructional program where the student is tested on their mastery of a single topic (or subtopic). The instructor may coach students during class time or outside of class to help students who struggle with understanding the concepts while they are intensely focused on learning. Note that the student s do not receive partial credit for partially correct responses on mastery-based assessments. Collaborative Lecture Teaching by giving a series of short, focused lessons intermixed with student-centered activities that solidify the concepts of the lessons or serve to introduce the next short lesson (DeLong and Winter, 2002). The interaction during the activities is primarily between students. Cooperative Learning Including class time for learning that engages students in working and learning together in small groups, typically with two to five members. Cooperative learning strategies are designed to engage students actively in the learning process through inquiry and discussions with their classmates (Rogers et al., 2001). Inquiry-Based Learning (IBL) Designing and using activities where students learn new concepts by actively doing and reflecting on what they have done. The guiding principle is that instructors try not to talk in depth about a concept until students have had an opportunity to think about it first (Hastings, 2006). Application Problems Including class time for students to solve problems based on data from real-world situations (present or past) problems that come from the partner disciplines of mathematics (e.g. Engineering, Chemistry, Biology, Physics, Economics, Business). Communication Skills Providing opportunities for students to practice their ability to communicate mathematical and quantitative ideas using both written and oral communications. Formative Assessment Making use of instructional strategies in the learning environment that assess where students are having problems so that students can learn more and learn better. (Gold, 1999) Multiple Representations Teaching by including multiple ways (e.g. graphs, diagrams, algebra, words, data, manipulatives) to represent mathematical ideas whenever possible. The rule-of-four (representing a function visually, algebraically, numerically, or with words) is an example of multiple representations. Project Based Learning Designing and assigning project work that requires students to solve a non-standard problem that requires a longer period of time than problems that would typically be assigned for homework or in class. There is often a research component where students must actively seek data, background knowledge, or formulas. Often the students work on projects in pairs or small groups. The final result of a project might include a written paper or a presentation on the findings. How do you build a good inventory? 1. Understand the Problem Ask population to respond to open-ended questions 2. Look for patterns in the statements 3. Develop a pool of questions to represent categories 4. Multiple researchers classify items and compare results. Revise as needed. 5. Pilot the inventory. Check for internal consistency reliability and perform factor analysis. 6. Revise. Pilot again (twice with same group) for reliability. 7. Final tweaking. 1,700,000 Assessments encourage memorization and recall Workload demands are high Students perceive high-quality teaching Choice in what is learned Clear awareness of goals and standards Links students' perception of their learning environment and their quality of learning Measure of learning approach giving three orientations: surface, deep, and achieving Includes Surface, Deep, and Achieving subscales Designed for Higher Ed Subscales Fear of failure Lack of purpose Syllabus-boundness Unrelated memorizing Quantitative increase in knowledge Memorization Abstraction of meaning Understanding of reality 19 items Likert scale Fragmented and Cohesive scales Characterize student views about knowing and learning science Purpose: Assess the relation of student views to achievement in science courses Credits for Photos (all licensed under Creative Commons):

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