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Introduction
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is the development of longrange plans of a company inorder to gain effective andefficient business procedure.
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Term DefinitionBalancedScorecard
Management practice that attempts to complement drivers of past performance (financialmeasures) with the drivers of future performance, such as customer satisfaction, development
of human and intellectual capital, and learning. Standard balanced scorecards do not includeenvironmental considerations.
Initiatives Specific projects or programs undertaken to achieve specific objectives in the near-term, suchas to reduce costs, increase efficiency, and improve sales performance.
Measures Standardized method of calculation. For example, liquid measures denote how liquids can bemeasured, whether in fluid ounces or liters.
Mission A concise statement on why the organization exists and what it is trying to accomplishObjective A target that an organization must achieve to make its strategy succeed.Perspective The four parts of the balanced scorecard namely Financial, Customer and Vendor, Internal
Process and Learning and Growth.
Strategy Art and science of planning and marshalling resources for their most efficient and effective use.Target Expected value of detailed measures used to implement and measure the completeness of an
initiativeValues In general, important and enduring beliefs or ideals shared by the members of a culture aboutwhat is good or desirable and what is not.
Vision Aspirational description of what an organization would like to achieve or accomplish in themid-term or long-term future
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Taking an organization-wide, proactive approach to achanging global world
Building an executive team that serves as a model ofcross-functional or horizontal teamwork
Having an intense executive development and
strategic orientation process Defining focused, quantifiable outcomes measures of
success Making intelligent budgeting decisions Clarifying your competitive advantage
Reducing conflict; empowering the organization Providing clear guidelines for day-to-day decision
making
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Creating a critical mass for change Singing from the same hymnal throughout the
organization
Clarifying and simplifying the barrage of
management techniques Empowering middle managers
Focusing everyone in the organization in thesame overall framework
Speeding up implementation of the corestrategies
Providing tangible tools for dealing with thestress of change
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Corporate Profile
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Vision
ValuesMission
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Size
oforga
nization
Level of complexity
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Situation Analysis
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Strengths Opportunities
Weaknesses Threats
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Review of Profile
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Vision
ValuesMission
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Size
oforga
nization
Level of complexity
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Strategy Formulation
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Financial Perspective
(Money)
Customer and VendorPerspective
(Relationships)
Internal Process
Perspective
(Processes)
Learning & Growth
Perspective
(People & Resources)
Vision&
Strategy
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No. Financial Perspective1
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No. Customer and Vendor Perspective1
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No. Learning & Growth Perspective1
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FnancaPspev
St.Objectives Initiatives Start Finish Responsible Measure/TargetFinancialstrategicobjective 1
Initiative 1
Initiative 2
Financialstrategicobjective 2
Initiative 1Initiative 2
Initiative 3
Financialstrategic
objective 3
Initiative 1
Initiative 2
Initiative 3
Initiative 4
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is the term for an element that isnecessary for an organization or project
to achieve its mission.
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Questions?