Seminar paper from the year 2015 in the subject Business economics - Miscellaneous, grade: 80.00/100.00, University of Strathclyde (Strathclyde Business School), course: Performance Measurement & Management, language: English, abstract: In 2001, CNN euphorically described Zara as “a Spanish success story” (CNN, 2001). Thirteen years later, Tobias Buck of The Financial Times called the Spanish fashion brand “one of the most striking corporate success stories of recent years” (Buck, 2014). Having started as a small fashion store in A Coruña, Zara is now the flagship brand of Inditex, the biggest fashion retailer in the world. However, Zara’s success is not cast in stone. Simon Irvin of Credit Suisse, criticising Inditex’s recently lacklustre financial performance, noted that business models were not likely to remain brilliant forever, and that Zara’s parent company were no exception to the rule (Buck, 2014). Having said that, numerous attempts have been made by competitors to copy Zara’s successful business model and thereby eliminate the firm’s competitive advantage. For instance, C&A purposefully hired away Inditex managers (The Economist, 2012), while Mango outpaced Zara in terms of sales in Spain, Zara’s home market, by copying Zara’s approach to manufacture the majority of its garments in nearby countries, as well as its product offering (Baigorri, 2013). In light of these developments, it is essential for Zara to measure its performance timely and carefully, and identify ways in which the firm’s future performance, against the background of its business model, may be improved. The Balanced Scorecard (BSC) is the right tool to achieve this, as it translates a firm’s strategic objectives and competitive demands into a coherent set of performance measures (Kaplan & Norton, 1993a). In particular, the BSC complements financial performance measures, usually reflecting past performance, with operational measures in the areas of customer satisfaction, internal processes, and a firm’s innovation and improvement activities, all of which can be said to be drivers of future performance (Kaplan & Norton, 1992).
Seminar paper from the year 2015 in the subject Business economics - Miscellaneous, grade: 80.00/100.00, University of Strathclyde (Strathclyde Business School), course: Performance Measurement & Management, language: English, abstract: In ...
Balanced scorecard as strategic management system.
Balanced scorecard as strategic management system.
Master's Thesis from the year 2005 in the subject Business economics - Personnel and Organisation, grade: 2,3, University of Applied Sciences Ludwigshafen, 57 entries in the bibliography, language: English, abstract: Abstract The utilization of employees often is the only measure for success of engineering services units. The question how many days of paid services can be billed to a customer is so dominant that other aspects are completely neglected. However, focusing on maximizing just one, financial, value - revenue by employee - might not be sufficient to guarantee sustainable success. The aim of this dissertation is to develop a management instrument for an engineering services unit based on the balanced scorecard approach. Even though the value of human capital often receives only little attention, employees are the key differentiator of an enterprise. The knowledge, experience and attitude of people can not easily be copied by competitors. Since human capital's contribution to business success is difficult to measure, it often plays no role in management systems. This situation can only change if the value of human capital can be determined and represented. The term "human capital" is explained in more detail in the first part of this work. What is human capital and why is it becoming increasingly important? Several approaches to determining human capital are described and analysed. In the second part of this work, a Balanced Scorecard is developed on a step-by-step basis for an engineering services unit. Particular attention is paid to the human capital aspect. However, the purpose of this work is not to develop a scorecard that serves only to assess and control human capital variables. Examples of such dedicated Balanced Scorecards are the HR-Scorecard and the Human Capital Management Scorecard. However, these Scorecards may complement the traditional Scorecard, but cannot replace it. They are focused on human resource figures only and thus are not lin
Particular attention is paid to the human capital aspect. However, the purpose of this work is not to develop a scorecard that serves only to assess and control human capital variables.
There has never been a Balanced Scorecard manual like this. 100 Success Secrets is not about the ins and outs of Balanced Scorecard. Instead, it answers the top 100 questions that we are asked and those we come across in forums, our consultancy and education programs. It tells you exactly how to deal with those questions, with tips that have never before been offered in print. This book is also not about Balanced Scorecard's best practice and standards details. Instead, it introduces everything you want to know to be successful with Balanced Scorecard.
It tells you exactly how to deal with those questions, with tips that have never before been offered in print. This book is also not about Balanced Scorecard's best practice and standards details.
