...Executive Summary According to Bento, “the Balanced Scorecard (BSC) has been proposed as an integrated framework for the implementation of financial and nonfinancial performance measures that helps organizations align their initiatives with the organization’s strategy” (2013). The Balanced Scorecard offers management a system to use in plotting strategic objectives through four perspectives. The financial perspective is determined by the outcome of management’s implementation of the internal processes perspective, customer perspective, and learning and growth perspective. Aon Corporation is the “leading provider of risk management, insurance and reinsurance brokerage” (Aon, 2014). Using the Balanced Scorecard my operating segment, Benefit Marketing Solutions, can examine an implement each of the four perspectives by obtaining information on how we can achieve Aon standards in the operation of our business segment. Implementing the Balanced Scorecard, I will assess how our financials can improve by achieving the objectives of maximizing company profits, increasing our gross profit margin per client, and decreasing our accounts payable days. The first factor I will investigate is our customer perspective and how increasing customer loyalty, customer exposure, and customer education will improve upon our financials. The second factor I will investigate is the internal perspective and how effective company alliances, effective customer service, and effective payment of...
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...Bank is to promote and support development of their partner agencies and fulfill their mission of a hunger free Central Florida. (Second Harvest Food Bank, 2013). Food banks not only provide food for hungry children from low income families but also those in the community who have come upon hard economic times. Once a person has been fed adequately they may then take on their next challenge in life, maybe finding shelter, a place in the community and for some employment. Once they are able to care for themselves, they are more apt to give back to the community, thus helping the local economy. Despite today’s unstable economy, high unemployment and what seems an obvious need, there have been many closures of local assistance programs making availability of services for this population increasingly difficult. Some of our affected community members have never had to apply for help in the past, and need direct help with that process. Referrals are another vital and valuable service provided where participants are sent to a network of agencies depending on their assessed needs. Additional services offered by SHFB include direct disaster relief, responding to floods, tornadoes and hurricanes. Duties include mobilizing leaders and services in the community...
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...General Exec. Questions: 1) What do you feel are your strongest leadership qualities and how will they help you lead as a member of exec? Or what do you think is the most important attribute an exec member should possess? I feel that my strongest leadership qualities include honesty, integrity and commitment. These characteristics will allow me to be a strong leader for our chapter. Members can be assured that my honesty and integrity will determine the choices I make on the executive board and that these decisions will be in their best interest. A strong leader is determined to serve the needs of the fraternity, not the other way around. I will determine what my brothers want for our chapter and be committed to serving their needs. Furthermore, my commitment to strengthening and supporting our chapter and my ability to delegate tasks effectively will assist the chapter in accomplishing its goals. 2) What is the goal and responsibility of the exec board as a whole? A strong executive board is essential to a successful chapter. The responsibilities of the executive board are to guide the chapter in a direction where it can effectively accomplish its goals. To do this the executive board needs to utilize strong management skills in order to create and execute strategies that make the fraternity self-sufficient and grow. Our main goal needs to be to create an environment that attracts the finest new members who will be an asset to the chapter. The next executive board...
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... The balanced scorecard is a facet of a performance management system, which measures a company’s strategic success based not only on past performance, but, most importantly, future forecasting as well. Though financial perspective is deemed the most important indicator of measurement, other non-financial perspectives are found to be vital to overall success and growth, such as customer relations, internal business processes, learning and growth (Kaplan, 2007, p. 150). The use of the balanced scorecard is said to create several advantages to the long-term success of an organization and is also proven to increase strategic learning: “The balanced scorecard signals to everyone what the organization is trying to achieve for shareholders and customers alike. But to align employees’ individual performances with the overall strategy, scorecard users generally engage in three activities: communicating and educating, setting goals, and linking rewards to performance measures” (Kaplan, 2007, p. 154). This paper will illustrate a balanced score card for the Naval Ordnance Safety and Security Activity (NOSSA), specifically the budget execution process. NOSSA is a field activity of the Naval Sea Systems Command (NAVSEA) within the Department of Defense (DoD). NOSSA acts as the Technical Authority for Explosives Safety, providing technical policies, procedures, and designing criteria associated with weapons system safety across warfare sites. Through the balanced scorecard...
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...WEBSITE EVALUATION Not every church will have every ministry. If they do not have a particular ministry, just indicate this in the space provided. Church #1 Name: Saddleback Community Church Church #1 Website: www.saddleback.com 1. Ministry is…praying for others. a. Does the church have a prayer ministry? What does it look like? Saddleback Community Church does have a prayer ministry that is fairly easy to get to. It is located under Care & Help and listed as Prayer Ministry. My only negative belief is that the main page has too much going on with to many other pages from it that it can be distracting and hard to find what you want if you are not sure where to look for it. Otherwise, they Prayer Ministry page itself is great as it is simple and easy to use. They have a simple message about the ministry, a number to call if you need help or to submit a request, and a Prayer request form on the page you can fill out and submit allowing for many different avenues to submit a request to them. 2. Ministry is…following Jesus’ example by practicing spiritual mentoring and multiplying. a. Does the church have a strategy for evangelism? After reviewing the website, you can tell that the ministries are built (including the training offered) around evangelism. However, there is no specific strategy layed out on the website about evangelism for the church. The closest I could find was a reference to Rick Warren’ s book “The Purpose Driven Life”. b. Does the church...
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...Question 1: How does developing a strategy map and associated balanced scorecard help the leadership team implement the new strategy? Developing a strategy map and associated Balanced Scorecard helps the man-agement team by clearly define the objectives and targets of the new strategy. As it is stated in the case, it is hard to implement a new culture in a company. By identifying the dimensions (Finance, Customer, Internal Process, and Potential and Growth) the management believes will make a difference and help VWB to accomplish the goal of changing the mindset of the company, with the strategy map together with the balanced scorecard it is possible to communicate easily through all levels down to the factory floor. The new strategy has to be under-stood by all employees in order to be successfully implemented. The Balanced Scorecard defines the role of each employee and the Executive Committee re-sponsibilities and how each improvement will be measured helping to clarify how each goal can be achieved. Question 2: How well does the strategy map and the balanced scorecard capture VWB’s new strategy? The main goal of VWB is to enable the company to regain its past #1 market po-sition in Brazil. To do so, they intend to re-brand VWB into a company with en-thusiastic and highly motivated employees in order to achieve high performance. The strategy was based on changing the management approach for working with employees in order to establish a new culture that could sustain...
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...During the late 1950s, a race between two world powers created even more tension throughout the world. The United States and the Soviet Union, or the USSR, which is now called Russia, were trying to build successful aircraft to take them beyond the realms of our world. The first successful space mission was launched by the Soviet Union in 1957, when Yuri Gagarin orbited the earth. Over a decade later, the United States major accomplishment was successfully landing a man on the moon. Neil Armstrong and Buzz Aldrin were the first people to take “one small step for man” and “one giant leap for mankind.” Many technical advancements, including spacecraft, created a race between nations to decide which country is the best of both worlds. If it had not been for each country’s persistence to surpass the other, space exploration would not have come about. The knowledge we have today about space is because of the world-renowned “space race.” Throughout the space race, many important discoveries were made by both countries. Dwight D. Eisenhower did not make space a priority, as he was more interested in keeping the country safe from communism, keeping...
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...measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy.” This quote reflects the behaviors of Tim Cook, the CEO of Apple. Cook was born in Alabama on November 1st, 1960. He earned his Bachelor’s degree at Auburn and went on to receive a degree in business at Duke University. Following those years, Cook worked at IBM and other companies, making a name for himself in the technology world. He commenced working at Apple in 1998 and moved up the ranks and eventually took over for Steve Jobs in 2011. Although he was always integral at the company, since Jobs’s passing, Cook has had a major impact on Apple as a leader. I believe that Tim Cook should be the Person of the Year based on these three characteristics: humanitarianism, assertiveness and balance mindedness. One of Tim Cook’s greatest attributes is his humanitarianism. One precedent of this is Cook’s...
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...MANAGING FOR THE LONG TERM | BEST OF HBR | January–February 1996 Using the Balanced Scorecard as a Strategic Management System Editor’s Note: In 1992, Robert S. Kaplan and David P. Norton’s concept of the balanced scorecard revolutionized conventional thinking about performance metrics. By going beyond traditional measures of financial performance, the concept has given a generation of managers a better understanding of how their companies are really doing. These nonfinancial metrics are so valuable mainly because they predict future financial performance rather than simply report what’s already happened. This article, first published in 1996, describes how the balanced scorecard can help senior managers systematically link current actions with tomorrow’s goals, focusing on that place where, in the words of the authors, “the rubber meets the sky.” by Robert S. Kaplan and David P. Norton A | transform themselves for competition that is based on information, their ability to exploit intangible assets has become far more decisive than their ability to invest in and manage physical assets. Several years ago, in recognition of this change, we introduced a concept we called the balanced scorecard. The balanced scorecard supplemented traditional financial measures with criteria that measured performance from three additional perspectives – those of customers, internal business processes, and learning and growth. (See the exhibit “Translating Vision and Strategy:...
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...The Resilience of the “Black Family” Despite Societal Hardships It is widely know that there has been a “breakdown” in the family structure of African Americans. Many news programs and books have been made about the low marriage rates in the African American community, and high rate of single-motherhood in the black community. Despite the depressing statistics African Americans have found a way to create extended family and fictive kin such that have allowed not only for a different family structure that the traditional family structure that is commonplace in the dominate ethnic group in the U.S. So, despite the insidious effects of slavery and Jim Crow, black families have survived, albeit in a more non-traditional form Prior to the transatlantic slave trade, African families were strong, and thriving. When men and women reached a certain age they were expected to marry, and bare children (Belgrave & Allison, 2006). The family was (and still is) the cornerstone of the community, and extended family was considered very important in child rearing. There is an old African proverb that says “it takes a village to raise a child. So, even during slavery, when parents and children were separated, other adults on the plantation would help to rear children of single mothers or children whose parents had been sold off (Belgrave & Allison, 2006). So, the belief in communal responsibility to the family survived the “middle passage.” Moreover even amongst scholars of “black...
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...online dictionary, liberal arts is defined as “college or university studies (as language, philosophy, literature, abstract science) intended to provide chiefly general knowledge and to develop general intellectual capacities (as reason and judgement) as opposed to professional or vocational skills” (Merriam-Webster). Students who receive a liberal arts education become knowledgable and skilled in many areas of study, rather than one specific topic. They become prepared to deal with complexity, diversity, and change. A liberal arts education does not necessarily include professional, vocational, or technical curriculum; rather, provides students with a broad knowledge of the world, as well as an in-depth study of one area. The educational program at Aquinas College combines studies in language, math, social sciences, natural sciences, humanities, majors, minors, and professional areas of study, therefore qualifying itself as a liberal arts college. Aquinas College holds several values to the utmost importance, some of which include prayer, study, community, and service. Spending four, or more, years at...
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...BSCIC: AN OVERVIEW 4.1 Historical Background Bangladesh Small and Cottage Industries Corporation (BSCIC) is a public sector enterprise with autonomous character entrusted with entire task of promotion and development of small and cottage industries in Bangladesh. It is the successor organization to the former East Pakistan Small industries Corporation (EPSIC) which was established by an Act of the parliament in 1957. Main role has been to assist the promotion of small manufacturing enterprises by- (a) developing infra-structural facilities for industry, (b) providing technical assistance and counseling services, (c) financing industries in the private sector and (d) setting up industries for which private investors were reluctant. Under the direct or indirect initiative of BSCIC a plenty of entrepreneurs has been created and enterprises has been set up in the country. But the influence of globalization and the free economy impacts upon the traditional manufacturing enterprises. This situation for marketing of small and cottage industries products is a major constraints facing by the sector. BSCIC is to provide facilities to the existing and new entrepreneurs to expand and develop their markets and to stay and sustain in the competitive environment. The definition of small-scale industry has undergone a considerable change in Bangladesh from time to time under government industrial policies. During the period 1957-65, small scale industry in Bangladesh...
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...Leading Change for Strategy Execution Dr. Robert S. Kaplan Baker Foundation Professor, Harvard Business School Executing strategy: Senior executives’ #1 issue The Balanced Scorecard: The Central Component in a New Strategy Execution Management System Private Sector Organizations Financial Perspective "If we succeed, how will we look to our shareholders?” Customer Perspective "To achieve our vision, how must we look to our customers?” Process Perspective "To satisfy our customers and shareholders, at which processes must we excel?” Non Profit and Public Sector Organizations Mission (Customer) Perspective “How do we have a social impact with our citizens/constituents?” Support Perspective “How do we attract resources and authorization for our mission?” Process “To have a social impact and to attract resources and support, at which processes must we excel?” Learning & Growth “How do we align our intangible assets to improve critical processes?” Learning & Growth “How do we align our intangible assets to improve critical processes?” Financial “How should we manage and allocate our resources for maximum social impact?” 3 Palladium Balanced Scorecard Hall of Fame for Executing Strategy® : By Industry 2000-2010 The Management System for Strategy Execution Links Vision and Strategy to Operational Excellence 2 TRANSLATE THE STRATEGY DEVELOP THE STRATEGY • Mission, Values, Vision • Strategic Analysis • Strategy Formulation 1 • • • • Strategy...
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...University of Phoenix : SCI/220 Food Intake -3 Days Paper Student: Chris Fortin Submitting Date : 5/12/2014 During my 3 day food recording program I learned numerous things about health and the food I put into my body. Below I will be listing the breakdowns of foods. Along with numerous other facts and information regarding my food study. The Foods in my 3 day food record that provided proteins are the following, Steak Salad, Fruit Salad, Subway Sandwich (Turkey), Bagel with cream cheese, Granola Bites, Protein Shake, Kellogg’s Raisin Bran, Panera Brea with Asiago roast Beef, Chicken breast(boneless), green beans boiled, baked potatoes, carrots, grapefruit, plain yogurt, cottage cheese with fruit. My largest intake of protein was from a Panera Bread salad with BBQ Chopped chicken, in which I in took 31 grams of protein. My recorded intake of Carbohydrates were from the steak salad, fruit salad, subway sandwich, bagel with cream cheese, soda, granola bites, protein shake, raisin brain cereal, Panera bread sandwich, chicken breast, green beans, baked potatoes, grapefruit, and subway sandwich. Nearly everything I in took contained carbohydrates; the largest amount of carbohydrates in taken was from 2 cups of Raisin bran cereal which contained 90 grams of carbohydrates. Lipids were found in cream cheese, granola bites, raisin bran, chicken breast, green beans, potatoes, carrots, grapefruit, and crackers with peanut butter, cottage cheese and yogurt. When comparing my intake...
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...Two Methods for Losing Weight Gilbert Prescott COMM/155 September 14, 2012 Lorraine La Croix Two Methods for Losing Weight Moderate exercise incorporated with cause one a well-balanced diet, together, work well as weight loss program, and they are two methods for losing weight quite effectively. There are many Americans becoming more health conscious, yet the vast majority is still overweight. There could be many reasons for this; poor eating habits, or from plain ole laziness. An interest in one’s career or one’s family lifestyle could be the cause for one to neglect their physical well-being. In order for a person to maintain one’s health and to prolong one’s life, one needs to exercise along with eating healthy foods with nutritional value. Exercise and healthy diet regimen is the main ingredient to losing weight. Some folks think that if they skimp out on a couple of meals and taking it easy on the snacks, they can lose weight without exercising. Little do they know that when one exercises, not does he only burn off body fat, but he is also helping his body function better. If one does not have the time to go to the gym, simply taking the stairs rather than riding up a couple of floors in an elevator is one way of staying active, and one will notice that they have a little more pep in their step. The benefits of exercise go far beyond weight loss. Lifting weights for exercise can reduce one’s risk of osteoporosis, as well as reducing one’s risk for developing...
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