The document discusses changing a company's management and measurement approach to rely less on financial measures and more on a Balanced Scorecard (BSC) system. It outlines the BSC's focus on balanced management, measurement, leadership behaviors, and financial outcomes. The steps taken were: 1) the team familiarized with BSC, 2) chairman and president learned about BSC, 3) BSC explained to senior team, and 4) senior team provided notes. Successful implementation involved consultation, communication across departments, participative decision-making, collecting employee ideas, and developing BSC at each level with empathy, communication and participation.
The document discusses changing a company's management and measurement approach to rely less on financial measures and more on a Balanced Scorecard (BSC) system. It outlines the BSC's focus on balanced management, measurement, leadership behaviors, and financial outcomes. The steps taken were: 1) the team familiarized with BSC, 2) chairman and president learned about BSC, 3) BSC explained to senior team, and 4) senior team provided notes. Successful implementation involved consultation, communication across departments, participative decision-making, collecting employee ideas, and developing BSC at each level with empathy, communication and participation.
The document discusses changing a company's management and measurement approach to rely less on financial measures and more on a Balanced Scorecard (BSC) system. It outlines the BSC's focus on balanced management, measurement, leadership behaviors, and financial outcomes. The steps taken were: 1) the team familiarized with BSC, 2) chairman and president learned about BSC, 3) BSC explained to senior team, and 4) senior team provided notes. Successful implementation involved consultation, communication across departments, participative decision-making, collecting employee ideas, and developing BSC at each level with empathy, communication and participation.
Group Members: BBA 8G •Bushra Farhad •Saima Khan •Urooj Jabbar •Maryam Amjad Introduction: Rely mainly on financial measures Balanced Scorecard (BSC) i. Balanced Management System of performance ii. Balanced Measurement System of performance iii. Leadership behaviors iv. Financial outcomes Measures generated on weekly, monthly and daily basis Steps Followed in Implementing the Approach: 1. Our team became thoroughly familiar with BSC. 2. Chairman and president familiarized themselves early on with the concepts of balancing scorecards. 3. Explained the vision, plan to the senior team consisting of seven senior vice-presidents. 4. Supplied each member of the senior team summary notes of our meetings and other suggestions. 5. Director had already been using the approach to some degree and had become an advocate for the process. Steps to implement the approach • Consult with top management for the understanding and implementation of BSC • Communicate with each department and project managers • Participative decision making • Every employees shared their ideas and suggestions • Collective suggestion then were sent in a proper written template to the senior management for the approval • Each manager then developed BSC • Called a meeting’ • Successfully implemented the BSC at all levels Three Keys For Successful Change