Theoretical Knowledge on Management Practices - Essay Example

Download file to see previous pages Traditionally the norm of evaluating the success of the organizational performance was solely restricted to the financial perspective, measured by financial performance indicators. These financial measures had its advantage of being quantified measures that are standardized. Even today, most organizations are using financial performance as a benchmark of the overall organization performance and in doing so, inevitably fail in focusing on other aspects of critical importance such as customers, internal processes, and the human resources of the organization. Focus on financial performances, at most times encourage management decisions to be skewed towards trade-off decisions favoring financial gains based on short-term perspectives. Thus, there is a critical need for management evaluation that takes a broader and balanced view of organizational performance.

1.2 Project Scope

This project titled Independent Business Management Study: Implementation of Balanced Score Card Strategic Management System in IMB Global Services Limited – UK covers the implementation of a Balanced Score Card concept within the IMB Global Services – UK branch in place of its traditionally used financial measures of organizational performance evaluation. This area of study is linked to Strategic Business Management where the focus is on overall business operations. The study will provide insight into how strategic objectives are converted into a set of operationalized targets, which facilitate evaluation and provide a balanced view of overall organizational performance.


1.3 Project Objective

The overall objective of the study is to observe and fully understand the implementation of the Balance Score Card strategic management tool within IBM Global Services – UK. Subsidiary study objectives that will aid the above overall objective of the study include the following:
 Articulate how strategic objectives are converted to a set of operationalized targets using a balanced scorecard,
 Determine how balanced scorecard measures of performance should be designed to reflect the specific needs of the organization in general and of IBM Global Services in particular
 Identify key issues affecting the implementation of a balanced scorecard system and how these issues can be managed. ...Download file to see next pages Read More