StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - Strategic Models

Only on StudentShare
Pages 10 (2510 words)
The concept of Balanced Score card was introduced by Kaplan and Norton in the year 1996, and is defined as "integrated management method based on key performance indicators which analyzes the strategy of a company or company unit as well as relevant external and internal aspects and identifies how these interact." (Glossary, 2008)

Extract of sample

The balanced scorecard includes qualitative insights in addition to quantitative measures like financial statements to give the decision makers a bird's eye view of the past health and also the future course of action of the company.
While financial measures like Return on Investment, sales and profit values, continue to be critical, new units like quality measures (warrantee/replacement/return/refund costs), employee skill and satisfaction measures (attrition/training/redeployment cost), future growth measures (R&D costs) are also taken into account.
Wells Fargo and company is a diversified financial services company based at San Francisco, California and offers a range of financial products. The company has been termed as one of the safest banks in the world. (The World's Safest Banks 2007, October 2007)
Wells Fargo bank used Balanced Score Card to identify its future growth path. Within 3 years of implementing the insights it got from a BSC, it was voted as the best online bank. As a result of the BSC, it increased its customer base by 4.5 times, and also decreased its cost per customer by as much as 22%. Additionally, it was able to add over 750,000 online customers over a 2 year period. (Beiman I. and Johnson J.C., n.d.)
The conventional manufacturing strategy model states that there i ...
Download paper
Not exactly what you need?

Related papers

Timmers Proposed Business Models
He gave the definition of a business model as being an architecture for the business, a description of benefits for the business actors and a description of a source of revenues (Timmers, 1998). His business models were e-shop, e-procurement, e-auction, e-mall, third-party marketplace, virtual communities, value-chain service provider, value-chain integrators, collaboration platforms, and…
25 pages (6275 words)
I-HRM & Performance Management and Strategic Management
However its importance becomes multi fold in global scenario due to the variable and dynamic nature of market. Success in IHRMs is akin to success of overall operational activity undertaken. Introduction: Organizations are a collection of different individuals and different processes that are grouped together into one unit in form of larger entity. Each of these has a clear role defined and…
10 pages (2510 words)
Mental models
Basically, these mental models are ideas and beliefs that people instinctively or intentionally acquires from their experiences and which consequently influence their behavior and mindset (Uitdewilligen, Waller, & Pitariu, 2013). These images of recognized reality inform individuals of cause and effect, and push them to predict specific outcomes, interpret occurrences, and prompt them to act in…
4 pages (1004 words)
Strategic Human Resource Management
Recently, the strategic role of the HR field and linkages between business and Hr strategy have been the subject of extensive discussion. Jim walker (1980), with his classic book on Human resource planning, was the first writer to suggest considering the corporate business strategy while developing and executing HR plans. Since then, in just over a greater of a century, a plethora of research,…
6 pages (1506 words)
Academic Models in Strategic Management
There are numerous techniques and approaches that support strategic decision making, like PEST, SWOT, portfolio matrixes, life cycles, value chain concepts and many others. The most important aspect of these academic tools is to “what extent [these tools] enhance or inhibit creative competitive strategy making in organizations” (Clark, 1997, p. 417). …
4 pages (1004 words)
Strategic Deterrence
The researcher states that today, many companies may compete in some other field, but try to avoid competing in the respective fields. This deterrence is only to avoid incurring losses, unnecessary from his competitor. The competitor may be a weak party, but still would be unwilling to compete. This strategy is primarily to avoid losses during industry shake out for any particular product. It is…
7 pages (1757 words)