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balancescorecard

balancescorecard

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Published by karan_tiff

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Published by: karan_tiff on May 14, 2010
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11/04/2012

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Term Paper
Topic:
“Balanced Scorecard based performanceappraisal system”
 
Submitted To:Dr. Neerja,Lect. – P.M.S,LIM.D.O.S: December 10, 2009.
 
Contents
:Introduction
Background of the Concept of Balanced Scorecard
Balanced Scorecard – Concept
The Concept of Performance Appraisal
Review of LiteratureBenefits of simulation trainingBalanced Scorecard ModelMajor Perspectives of a BSC: Cause and EffectRelationship
The Financial Perspective
The Customer Perspective
The Business Process perspective
The Learning & Growth Perspective
Features of Good Balanced ScorecardBuilding and Implementing the System Using BSCUsing Balance Scorecard as a Strategic ManagementToolUse of Balance Scorecard in Corporate Sector
Balanced Scorecard at PRC’s
Balanced Scorecard at Philips Electronics
Balanced Scorecard at Tata Steel’s
Balanced Scorecard at Sears Company
Balanced Scorecard at Metro Bank 
Critical Analysis of Balanced ScorecardConclusionBibliography
 
1.INTRODUCTION1.1.Background of the Concept of Balanced Scorecard
Throughout the history of contemporary management theories starting from the ones thatwere introduced between the intrusion of the mass production in the beginning of the 20
th
century and until today, all the gurus of management have been trying to find uniformsolutions on more efficient allocation and use of very limited resources available to businesses.In the down of the century, Frederick W. Taylor established the very concepts of resourceallocation in his Principles of Scientific Management. In 1920 it went around assembly lineand motion studies as the first experience from systematic mass production had giventheorists quite a lot of materials to be analyzed from the point of view of using traditional by blue-collar employees more efficiently. In the 1930, the main topic was motivation of employees, as it turned out that human nature does not enable to work long hours on arepetitive tasks without frustration level getting so high enough to diminish productivity. Inthe 1940 and 1950, the first statistical and linear methods were introduced in trying tomeasure logistics of the operations management and its implications to overall companysuccess in financial-analysis side.In the beginning of 1980, partly because of introduction of electronic data processingequipment and quick development of computers, the whole array of management techniqueswere initiated. The particular reasons for the vast development of the new theories werecatalyzed mainly by ever growing competition generated through more systematic use of computers, and of course also by rapid growth of the importance of human capital.During the industrial age, the financial control systems were developed in major companiesto facilitate and monitor efficient allocations of financial and physical capital. A summaryfinancial measure such as return-on-capital-employed (ROCE) could both direct a company’sinternal capital to its most productive use and monitor the efficiency by which operatingdivisions used financial and physical capital to create value for shareholders.The emergence of the information era, however, in the last decades of the 20
th
century, hasmade obsolete many of the fundamental assumptions of the industrial age competition. Theinformation age environment for both manufacturing and service organizations requires newcapabilities for competitive success. The ability of any company to mobilize and exploit its

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