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Planning and Measuring Performance

MGT/521
March 15, 2015
Instructor: Kimberly Roberts

Planning and Measuring Performance
“The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications and monitor organization” (balancescorecard.org/Resources/About-the-balanced-scorecard). The University of Phoenix website states the balanced scorecard isn’t just a focus on financial measures it uses segments of the organization and takes this into account. The balanced scorecard is made up of four aspects in the company performance that may consist of: customer, financial, internal processes, and people/innovation/growth assets. When a manager views the balanced scorecard they can set goals for these areas and can be used as a guide to measure the organizations process.
Balanced Scorecard
"The balanced scorecard shows the art department of Sherman Ceramics, a large corporation that manufactures collectible ceramic figurines based on comic book, television, and film characters. The company has an automated assembly line to manufacture the figurines, but most of the work done in the art department is by hand, since the figurines are produced in small runs and are considered to be exclusive collectibles. The employees of the art department hand paint the features and apparel on the figurines, as well as any accessories that accompany the figurines. The corresponding price point for these items is high, and they are generally sold in independent comic book stores and through online sites, although certain national toy store chains carry the figurines as well. The art department currently has a staff of 40 employees and 5 managers; the managers all

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