Briefly describe how your organisation will use the Balanced Scorecard to control organisational performance, and identify at least two (2) Budgets and two (2) Financial Statements that you will utilise as control measures
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- Discuss the Balanced Scorecard as a management tool to ensure survival and profitability of your organisation in the future by evaluating your own organisation on the four perspectivesExplain why you believe that the balanced scorecard is an important critical strategic management concept. Be sure to explain the various elements of a balanced scorecard.Indra Nooyi, the former CEO of PepsiCo describes how she led an effort to the company being a "better corporate citizen." She advises other companies who wish to adopt a "Performance with Purpose" approach to consider all of the following except: Ensure the company's board of directors support the intiative Hire a Chief Sustainability Officer to oversee all aspects of the initiative Adapt the strategy to accommodate the needs of local markets form partnerships and coalitions with NGOs and other companies
- Explain the role of budgeting and forecasting in the strategic planning process with reference to the manager's specific organisational context.What kinds of programs should QVC inc (for example, restructuring the corporation or instituting TQM) be developing to implement the recommended strategy for the company? Who should develop these programs? Who should be in charge of these programs?Why is performance evaluation critical in strategic planning?
- What is the importance of the monitoring and control of the implementation of the strategic plan? What are the benefits of measuring and assessing the effectiveness of the plan via measurable standards?1. Why is strategic control important in monitoring the process of strategy implementation? 2. Is the balanced scorecard a useful tool for developing, controlling and enhancing the strategy implementation process of an organisation? Why or why not?What are the types of strategic controls used in the organisation? Describe.
- Control should be exercised at various levels of an organisation. Identify and explain the levels of control as evident from the J&J case study?Which is more important- planning or controlling? How are they different? What is a break-even point? How is an organization's financial planning and control similar to your personal budget process?How can organizations align their long-term strategic goals with short-term operational plans to ensure consistency and effective implementation?