Paper 6/4/2011 Building A Balanced Scorecard The "voice of the employee" focuses on providing a safe and secure workplace in response to instances of violence and poor employee relations. The "voice of the business" focuses on the Breakthrough Productivity Initiative, and the "voice of the customer" improves internal processes by providing a timely and reliable delivery. Postal Operations could use other measures to assure their goals are being met. The United Postal service should
Words: 384 - Pages: 2
contract. In spite of the considered plan of expansion is perceived as a low-risk venture, the report will review the impact of accepting the contract using the given information and basing on financial (Return on capital employed (ROCE), Residual Income (RI)) and non financial performance measurement techniques, specifically the balanced scorecard approach. The following data is available for Santa division: Net profit before tax (PBIT) £ 3 mln per annum Net capital employed £ 10 million Required
Words: 2393 - Pages: 10
2005 QUESTION 1 HOW DOES A VALUE ADDED APPROACH TO FIRM PERFORMANCE MANAGEMENT DIFFER FROM MORE TRADITIONAL APPROACHES IN ASSESING PERFORMANCE? Performance management is a process by which managers and employees work together to plan, monitor and review an employee’s work objectives and overall contribution to the organization. It is the continuous process of setting objectives, assessing progress and providing on-going coaching and feedback to ensure that employees are meeting their objectives
Words: 1114 - Pages: 5
The balanced scorecard system has some distinct advantages that make it suitable for improving performance. The first is that it is focused on getting results. This is why the approach in case of US Postal Services produced positive results. The second advantage is that linking employee interests in a service industry to business processes, and to customer satisfaction are strong drivers of success. These lead to improved financial results. Another important reason why balanced scorecard is useful
Words: 680 - Pages: 3
1. Explain how the Voice of the employee supports improved internal processes (Voice of the Business), and how Voice of the Business supports customer satisfaction (Voice of the customer) 2. Suggest some other measures that might be included, using your knowledge of postal operations. Voice of the Employee (VOE) is necessary in that it provides a better understanding of employees in the workplace and to respond to their needs and requirements. The United States Postal Service initiated the
Words: 718 - Pages: 3
a tool for driving continuous improvement throughout the organization and to gain advantage over competitors such as reducing costs, increasing productivity and better aligning product (Fleisher amd Bensoussan, 2007). Benchmarking began in the late 1950s as a natural development of early Japanese practices focusing on a clear desire to improve. Then, Xeros Corportation in America adopted a similar vigorous approach in 1979 which start the term “Benchmarking” by investigating the practices of Fuji
Words: 1552 - Pages: 7
Economics Sciences and Business Administration of „Babeș - Bolyai” University of Cluj Napoca.E-mail: marian_sfetcu@yahoo.com. Tel: 0720 760 220 Abstract: This approach shows a research on the usage of managemental methods on the internal audit activity through qualitative and quantitative indicators of performance assurance. Balanced Scorecard, the management method and tool, referred to the Dashboard, contributes to the internal audit performance through resource planning, setting objectives and scope
Words: 5439 - Pages: 22
Table of Contents Introduction 3 Background 2 BSC Advantages 4 BSC Disadvantages 5 Review 4 Methodology 6 Pre-study essentials 5 How to Implement a Balanced Scorecard 7 Discussions and Results 9 Conclusion: 13 Recommendations: 13 References 14 Introduction Any business organization’s goal is to improve its operational performance. Through the employment of various types of performance measures, firms can assess the efficiency and effectiveness
Words: 2804 - Pages: 12
performance is the RBV. The importance of this theory is on achieving sustainable competitive advantage by means of effective and efficient use of the resources of an organisation (Barney, 1991). Resource-based theory directed to a change in strategic management thinking from an `outside-in’ approach with an emphasis on external, industry-based competitive issues (Porter, 1980) to an `inside-out’ approach (Baden-Fuller and Stopford, 1994), in which internal resources constitute the starting point
Words: 2092 - Pages: 9
through financial reporting are lack of ability to meet actual performance in operated processes. The balanced scorecard is an approach to performance measurement that combines traditional financial measures with non-financial measures to provide managers with richer and more relevant information about the activities they are managing. After the first introduce in the early 1990s, balanced scorecard has been widely used by many companies, it has provided benefits and convinces to companies. However
Words: 3096 - Pages: 13
