lts from Questionnaire Survey 44 4.3 Analysis 45 4.3.1 Interview 45 4.3.2 Questionnaire Survey 47 4.4 Discussion and Implications of Findings 48 CHAPTER 5 50 5.1 Conclusion 50 5.2 Recommendation 52 5.3 Limitations and Future Scope of the Study 53 References 55 Bibliography 62 Appendices 67 Appendix 1 67 Appendix 2 68 Appendix 3 73 CHAPTER 1 1.1 Background Organisational functions are generally controlled and monitored by the top-level management of the company. Their duties involve strategic planning, implementing plans to achieve profit and increase the market share of the company. They also have the responsibility to review the level of performance and control the internal factors. So the management not only monitors the corporate but also business performances in the organisation. Business management functions involve analyzing and organizing the business methodologies, processes and the systems and accordingly work to increase the performance of the business. The balance scorecard methodology is a part of performance analysis tool. This tool was introduced by Robert S. Kaplan and David P. Norton. This helps a company to determine its long term goals and strategies. Basically a company is analyzed from four basic perspectives: growth and Learning, Customer base and satisfaction, financial aspect and finally internal business process of the company (Balanced Scorecard Institute, 2012). Balanced Scorecard concept has become deeply embedded in all kinds of organizations around the world. Organizations have used systems which consist of a mix of financial and non financial measures in order to track the progress for quite some period of time. The balanced scorecard terminology was coined by Schneider man as the roots of the performance management as the activity which runs deep in management practice and literature (Scarlett, 2001, p.41). Kaplan and Norton included the details like non financial measures which would help to compare the target values within a single report. Balanced scorecard is considered as one of the most crucial management idea of this century. The concept was first coined by Robert Kaplan and David Norton in 1992. The idea of balanced scorecard consists of performance prism, third generation balanced scorecard and result based management. In mid 1990s organizational theorists had taken up Norton and Kaplan's work and modified the method of balanced scorecard (Kaplan and Norton, 1996, p.41). In the beginning of the century Frederick Taylor established the concepts of resource allocation. In 1920's motion studies and assembly line was prepared for the production processes. In 1930's the main topic of studies
Performance Management: using Balanced Scorecard as a tool to improve performance Table of Contents CHAPTER 1 6 1.1 Background 6 1.2 Problem Areas 8 1.3 Rational of study 9 1.4 Problem Statement 10 1.5 Research Question 10 1.6 Research Objectives 10 1.7 Literature Review 11 1.7.1 Performance Management 11 1.7.2 Performance Drivers 12 1.7.3 Benefits of Performance Management 14 1.7.4 Balance Scorecard 15 1.7.5 Reasons for Implementing Balance Scorecard 15 1.7.6 Relation of Balance Scorecard with the Strategic Metric 16 1.7.7 Latest Findings on Balance Scorecard 17 CHAPTER 2 19 2.1 Theoretical Framework 19 2.1.1 History of Balanced Scorecard 19 2.1.2 Balanced Scorecard Principles 20 2.1.3…
It is important to evaluate customer satisfaction because this is an important aspect of a business organisation in order to develop close connections with its customers. However, it is important that the entire evaluation process needs to be conducted in a manner relevant to customers’ expectations.
The current study deals with an understanding of the capability of a performance appraisal system in influencing the employee performance within an organization. The focus of the study has been to understand whether there is a need to incorporate alternative measures within organizations to effectively influence organizational employees.
Table of Contents
Literature Review 5
Overview of the Balanced Scorecard 5
Development of the Balanced Scorecard 8
Benefits of using the BSC 11
Balanced Scorecard Implementation in large enterprises and SMEs 12
Criticisms of the Balanced Scorecard Methodology- challenges of implementing the Balanced Scorecard 14
The paper investigates the effect of the balanced scorecard on the performance of the for profit organisations. Balanced scorecard is being used by several organisations in order to improve the overall output and performance. It is used as an important strategic tool which facilitates the organisation in the process of formulating and devising effective and efficient strategies.
2. Criteria of research in terms of industry and geographical area The study will refer to the banking sector of a particular country, Saudi Arabia. At the next level, the research will be developed in regard to a particular firm, the Riyad Bank, one of the most powerful competitors in the Saudi Arabia banking sector.
Saudi Arabia has demonstrated rapid demographic changes which accounts as its main determinant of political and economic stability. In particular, it is the ability of a nation to develop its human resources that determines the success of its organizations in the long run
This specifically is an important finding in this paper and is further justified by the Gap model. This paper therefore tries to combine the actual or observed information from the acquired concepts in the review of related literature. The literature review was conducted in order to provide additional information about the delivery of customer value as in line with handling an excellent customer care.
s 15 4.10 The expediency of the Balanced Scorecard to Performance Management System of Commercial Banks of China 20 4.11 Summary 21 5.0 Research Methodology 22 6.0 The Balanced Scorecard in the Chinese Commercial Banking Sector – Industrial and Commercial Bank of China (ICBC) 22 7.0 Context 22 8.0 Findings 24 9.0 Interpretation 24 9.1 Extent of Leaders’ Support 27 9.2 Preparation for Implementation 27 9.3 Management ‘Informatization’ 28 9.4 Cost and Benefit 29 9.5 Incentive System 29 10.0 Conclusion 30 Reference 31 Bibliography 34 1.0 Introduction The phrase “Measurement is the first step that leads to control and eventually to improvement.
The researcher of this paper aims to analyze if the recession has changed the way UK banks measure performance. Having in place the correct framework and resulting models to measure performance is paramount to organisations, as it will give them the ability to assess there internal processes correctly and judge their performance in a fair manner.
The author of this proposal states that the project is worth undertaking because the problem statement offers us a chance to directly qualify management as an impetus for performance. With the findings, a rationale could be created to design a model management for multinational corporations to enhance performance.
4 pages (1000 words)Dissertation
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