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BSC is the strategic planning and implementation tool that assists the management in
the process of achieving organizational goals. It is a method that enables cooperation
and synchronization in the business procedures. Typically Balanced scorecards consists
of several fields, which lists the subject of interest and steps that would allow the
company to reach highest results in listed fields.
Balanced Scorecard
As you can see, there are four fields: financial, internal business procedures, learning
and growth and customers. We will discuss each one of them in little more detail in
order to give you a better understating of how the method works. Financial; in this
section managers list some of the key steps and goals they need to achieve in order to
succeed in their ultimate goal. Steps might be lowering fixed costs, low leverage,
possible IPO etc. As for the internal business process, it might involve training, better
communication, changing organizational structure, etc. For the learning and growth, it
might outline the process of training, growth strategies (acquisition, franchising), and
target market share. As far as the customers are concerned, management might define
the strategy for increasing customer satisfaction, brand development, and advertising.
What is important to understand is that, there is a difference between the SWOT and
BSC. While the SWOT analysis is mostly used in the broader planning procedures, such
as strategic goals for the organization, BSC is a tool that has often been used in the
process of achieving a specific goal. To make it clear, SWOT is used to define the goal,
and the BSC is used to design a plan to achieve that goal.
SWOT and BSC have been in use for several decades and have proved to be effective
and efficient methods in business planning. The two methods have frequently been
viewed as competitors, but the consensus has been emerging in the academic as well
as the professional community that the two are more complementary to each other than
they are rivals. Both methods are relatively cheap to design and implement, and provide
a valuable insight in to the key aspect that will determine the organization’s success.
In conclusion it has to be mentioned that, BSC and SWOT are two methods that help
define goals, steps, and an overall organizational strategy; they both have been used

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successfully for several decades. Even in the modern age of technology and alternative
methods, these two simple graphic charts have been very popular among the top
executives.

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BSC is the strategic planning and implementation tool that assists the management in the process of achievingorganizational goals. It is a method that enables cooperation and synchronization in the business procedures. Typically Balanced scorecards consists of several fields, which lists the subject of interest and steps that would allow the company to reach highest results in listed fields.Balanced ScorecardAs you can see, there are four fields: financial, internal business procedures, learning and growth and customers. We will discuss each one of them in little more detail in order to giv ...
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I was struggling with this subject, and this helped me a ton!

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