Limitations of the balanced scorecard Essay Example for Free

Limitations of the balanced scorecard Essay As any other management innovation the balanced scorecard faces certain challenges as it attempt to break away from traditional approaches of management. For one it is difficult to implement a balanced scorecard system in large organizations such as Intel as it requires solvating for support from fellow mangers. Additionally, commitment and cooperation from project managers is fundamental to the success of comprehensive balanced scorecard. This process is both times consuming and tedious. More to that, resistance from managers due to and fear of the unknown is also a challenge to implementing a balance scorecard, thus, top-level managers may be reluctant to give adequate funding to implement a balanced scorecard management system. However despite the challenges associate with implementing balanced scorecards the benefits derived are worth the effort of trying. A balanced scorecard can transform strategic objectives to flow logical resources of performances. This will ensure that the organization efforts are aligned with mission statements and the employees’ investors and customers’ needs are catered for. The first requirement in designing a balanced scorecard is detailing the objectives of the company depending on what is desired at the given moment. .( Bain Company, 2002, Stewart, 2000) These objectives should be in view of the how the customers see Intel, what Intel focuses to excel at, how the company may continue to be innovative in creating value, and how the company intends to change the shareholder perspective of the company (Dickinson, 2003). The second step in designing the balanced scorecard is to describe the strategy that Intel wants to implement say better manage the intangible assets of the company or ensure that quality products are supplied to customers in time and in right quantities. The other step is to align the internal processes of the organization with strategy. In this case, we will be looking at what the company can excel in or what it is good at and capitalize in it while pulling efforts to low performing processes. The next step will be to assign duties to every individual job. Positive impacts of BSC According to the survey conducted by Bain Consulting Company, companies that implement a balanced scorecard in their management system reported higher assets turnover, reduction in indebtedness, elevated margins as well as high inventory turnover (Oorschot, 2002, Norton, 2001). Since balanced scorecards clarify organizations strategies to individuals in the organization, employees at Intel will be more inclined and committed to achieving the goals hence translating to higher profit margins for Intel. Moreover, Intel will be in a position to track financial loopholes within the organization and develop measures to seal the loopholes. This in turn will lead to reduced debts and better allocations of funds. Scorecards provide immediate feedback to managers who measure the performance outcome against visions and missions set. By adopting a balanced scorecard, Intel will be in a position to improve its strategies periodically following occasional review that balance scorecards provider. Implementing a balanced scorecard at Intel will ensure that attention is equally accorded to other issues, save financial ones, such as human issues, and provide metrics that force the company to act for the greater good of the company. In the end, success for the company is guaranteed. The balance scorecard institute puts the major consideration of designing and implementing a balance scorecard into perspective by saying, â€Å"A major consideration in performance improvement involves the creation and use of performance measures or indicators. Performance measures or indicators are measurable characteristics of products, services, processes, and operations the company uses to track and improve performance. The measures or indicators should be selected to best represent the factors that lead to improved customer, operational, and financial performance. A comprehensive set of measures or indicators tied to customer and/or company performance requirements represents a clear basis for aligning all activities with the companys goals. Through the analysis of data from the tracking processes, the measures or indicators themselves may be evaluated and changed to better support such goals. † (Arveson, 1998) Balanced scorecards are performance management tools and Intel Company could benefit from measuring the performance of the company now and in future. Unlike before, where it was not possible to gauge the health of the business, and thereby not know the future standing of the business, implementing a balanced scorecard will ensure that indicators point out whether the company is headed for and develop mitigation efforts to prevent this. Another benefit of a balanced score cared is that its use is compatible with other existing management systems. EVA, SVA, EFQM, IAM and Business excellence model, can be linked to balanced scorecards. If the management feels uneasy to drop all the other financial measures. Normally balanced scorecard is at the center of the management systems since it s easy to use mechanism.

Cleopatras Initial Encounter With Caesar Essay -- Egypt History Paper

Cleopatra's Initial Encounter With Caesar Cleopatra is desperate-she needs to gain the throne of Egypt before her inadequate younger brother, Ptolemy, convinces Caesar to grant him full power. But alas, Cleopatra has been banished from Egypt by the ruthless Pothinus. Fortunately, the brilliant Cleopatra devises a plan to enter her Egyptian castle rolled up in a carpet, posing as a gift for the great Caesar. Her loyal servant, Apollodoros, carries her through a secret passageway and into the palace, where they are met by Caesar's guards. They continue into Caesar's quarters, where Apollodoros unrolls the carpet to reveal the stunning Cleopatra. Caesar is impressed not only by Cleopatra's intelligence, but also by her undeniable beauty, and pronounces Cleopatra the sole ruler of Egypt. Such is the story of the meeting of Caesar and Cleopatra as told by Plutarch and others that followed him. The extent of the story's truth remains a mystery, but it is likely that Plutarch included it in his account merely for entertainment value-it is only fitting that the alluring Cleopatra enters the castle with such a grand appearance. Because it is written in Plutarch's interpretation, many perceive the story as fact and include it in their own works. The scene, however-and the portrayal of Cleopatra within it-vary among different compositions. Regardless of the probable fictitious aspect of the scene, it is an important one, for it is in this scene that the level of Cleopatra's strength and power is revealed. INTELLIGENT YET INFERIOR Initially, it appears as though the rug scene is a display of Cleopatra's wit, for she uses her intelligence to devise a plan to enter the palace. In addition, it seems that Cleopatra has heightened ... ...lmi, Sr. With Billy Zane, Leonor Varela, and Timothy Dalton. ABC/Hallmark Entertainment, 1999. Cleopatra. Dir. Mankiewicz. With Elizabeth Taylor, Richard Burton, and Rex Harrison. 20th Century Fox, 1963. Foreman, Laura. Cleopatra's Palace: In Search of a Legend. New York: Discovery Books, 1999. George, Margaret. The Memoirs of Cleopatra. New York: St. Martin's Press, 1997. Gerome, Jean Leon. Cleopatra and Caesar. Private Collection. Hamer, Mary. Signs of Cleopatra. New York: Routledge, 1993. Hughes-Hallet, Lucy. Cleopatra: Histories, Dreams, Distortions. New York: Harper & Row, 1990. Plutarch's Lives of the Noble Grecians and Romanes [c. 100 C.E.]. Trans. Sir Thomas North (1579). Ed. Geoffrey Bullough, Narrative and Dramatic Sources of Shakespeare. Vol. V. Columbia UP, 1964. Shaw, Bernard. Caesar and Cleopatra [1898]. New York: Penguin, 1957. Cleopatra's Initial Encounter With Caesar Essay -- Egypt History Paper Cleopatra's Initial Encounter With Caesar Cleopatra is desperate-she needs to gain the throne of Egypt before her inadequate younger brother, Ptolemy, convinces Caesar to grant him full power. But alas, Cleopatra has been banished from Egypt by the ruthless Pothinus. Fortunately, the brilliant Cleopatra devises a plan to enter her Egyptian castle rolled up in a carpet, posing as a gift for the great Caesar. Her loyal servant, Apollodoros, carries her through a secret passageway and into the palace, where they are met by Caesar's guards. They continue into Caesar's quarters, where Apollodoros unrolls the carpet to reveal the stunning Cleopatra. Caesar is impressed not only by Cleopatra's intelligence, but also by her undeniable beauty, and pronounces Cleopatra the sole ruler of Egypt. Such is the story of the meeting of Caesar and Cleopatra as told by Plutarch and others that followed him. The extent of the story's truth remains a mystery, but it is likely that Plutarch included it in his account merely for entertainment value-it is only fitting that the alluring Cleopatra enters the castle with such a grand appearance. Because it is written in Plutarch's interpretation, many perceive the story as fact and include it in their own works. The scene, however-and the portrayal of Cleopatra within it-vary among different compositions. Regardless of the probable fictitious aspect of the scene, it is an important one, for it is in this scene that the level of Cleopatra's strength and power is revealed. INTELLIGENT YET INFERIOR Initially, it appears as though the rug scene is a display of Cleopatra's wit, for she uses her intelligence to devise a plan to enter the palace. In addition, it seems that Cleopatra has heightened ... ...lmi, Sr. With Billy Zane, Leonor Varela, and Timothy Dalton. ABC/Hallmark Entertainment, 1999. Cleopatra. Dir. Mankiewicz. With Elizabeth Taylor, Richard Burton, and Rex Harrison. 20th Century Fox, 1963. Foreman, Laura. Cleopatra's Palace: In Search of a Legend. New York: Discovery Books, 1999. George, Margaret. The Memoirs of Cleopatra. New York: St. Martin's Press, 1997. Gerome, Jean Leon. Cleopatra and Caesar. Private Collection. Hamer, Mary. Signs of Cleopatra. New York: Routledge, 1993. Hughes-Hallet, Lucy. Cleopatra: Histories, Dreams, Distortions. New York: Harper & Row, 1990. Plutarch's Lives of the Noble Grecians and Romanes [c. 100 C.E.]. Trans. Sir Thomas North (1579). Ed. Geoffrey Bullough, Narrative and Dramatic Sources of Shakespeare. Vol. V. Columbia UP, 1964. Shaw, Bernard. Caesar and Cleopatra [1898]. New York: Penguin, 1957.

Business and Admin Research Information

Give Reasons for agreeing Objectives and deadlines for researching information Agreeing objectives is essential for a team or individual to know what they are focusing on to avoid wasting resources and time. Knowing the How, What, When and Why of an assignment will mean being able to complete the task in a timely manner and correctly. Deadlines strongly affect what you research e. g. World news is being update by the hour, with a well-defined deadline; we can better gather the relevant information as equired.There is no point to having a long deadline and present a report of yesterdays news; Who is interested in old news? How much will you pay for yesterday newspaper? Is it worthless? A copy of todays newspaper is worth money, but yesterdays is worthless. Therefore, objectives and deadline must go hand in hand. With the right objective and a set deadline you know what must be done and how long you have. 1. 2 Give reasons for identifying and agreeing sources of information As there ar e many different ways to find out information, for example; The internetBooks and EBooks Word of mouth etc. , Reference material Academic Journals Magazines Statistics Specialist information Interviews Past speeches Pictures Organizations It is therefore crucial that you make sure the information is correct, relevant and at the right time, with all the required information in hand. Only if data is stored in a procedural manner it can be easily retrieved. Information might be retrieved for marketing purposes, for communications, for monitoring purposes; for surveys and other research that an organisation or business might conduct.Information will also be retrieved in situations where information might have to be shared with partner companies and with the police or Tax Services. Storage of data plays a major role in improving the performance of a company and this can happen either offline or online and in various formats. Storing information is essential for many reasons; these includ e Ease of access and readability, The level of detail you are able to store The choice to have various copies of the information in case of loss and ease of transfer.Be Able To Research Information for Others 2. Agree aims, objectives and deadlines for the information search Agreeing aims and objectives regarding tasks will help you to do your work efficiently as they give a clear idea of what is needed and why. Deadlines are also very important as our customers and our reputation is negatively affected if we don't complete work in the required time, so time limits help to estimate the time you have to spend on each one, otherwise you could spend too long researching one source and then find out it was the wrong source.Having deadlines allows you to structure your own deadlines, allowing a certain mount of time on each source of research, so you do not overlook the information of another. 2. 2 Identify sources of information Question 1. 2 answers this question. 2. 3 Search for and o btain data Research comprises of; â€Å"A creative work undertaken on a systematic basis, in order to increase the stock of knowledge. This includes knowledge of man, culture and society, and the use of this stock of knowledge to devise new applications. † (OECD (2002) Frascati Manual: proposed standard practice for surveys on research and experimental development, 6th edition).It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories. The primary purposes of basic research (as opposed to applied research) is documentation, discovery, interpretation, or the research and development (R;D) of methods and systems for the advancement of human knowledge. There are several forms of research: Scientific Humanities Artistic, Economic Social Business Marketing Practitioner research, etc. Nothing damages someone's professional credibility as quickly as an error, even a inor one.While a simp le calculation error or typo can seem trivial in the scheme of things, it implants doubt into your audience's mind. They now think; â€Å"If this person can make these simple errors, they can also make larger errors†. Errors occur for many reasons; Ignorance Lack of time Poor planning Laziness Incorrect data Invalid source material The most common errors we see are in spreadsheets and written communications. Spreadsheets can be deceiving because they print out or display very professionally and can hide simple calculation errors.Careless manipulation of formulas can cause errors that are difficult to visually detect. that miss detection by spell checker programs due to multiple meanings and basic sentence structure. Also, if the reader finds inconsistences in the flow of the report/ information or if it sounds far-fetched, they being to wonder whether or not the information is plausible. No matter the root cause, errors suggest a lack of caring or attention. Conversely, peopl e notice attention to detail. The customer experience holds true for presentations and report slides.

Business and Technology Innovations - 1180 Words

Technological innovations have always been on the rise. In today’s world, technology is everywhere, and continues to evolve and improve on a daily basis. There are limitless uses for technology today. Businesses can send important documents through emails, video conference with customers across the world, save financial large financial documents on computer servers for easy access, and so much more. Technology today allows people to connect with anyone anywhere through social media, deposit their checks through their phone, get directions to the nearest restaurant, and many other useful tools. Technology is growing at a rapid pace and people rely on it to get tasks like business and everyday life accomplished. While technology can be a wonderful and helping thing there is one major downside to it; fraud, identity theft, and scams. How can businesses and the public be safe around all the technology? How do they know that their credit card information will not be stolen or their phone hacked? Some ways to protect yourself are making social media outlets private, getting a credit card that protects against fraud, using secure Wi-Fi, and even just having a blackberry. Social media is a great way to stay in touch with old classmates, organize work functions, or letting everyone know what you had for lunch. It is also a good way for hackers to get a lot of your personal information, your photos, and even your locations. People look at the good that social media can do but do notShow MoreRelatedDeveloping a Product Innovation and Technology Strategy for Your Business4392 Words   |  18 PagesProduct Innovation Best Practices Series DEVELOPING A PRODUCT INNOVATION AND TECHNOLOGY STRATEGY FOR YOUR BUSINESS Reference Paper #39 By Dr. Robert G. Cooper and Dr. Scott J. 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