ECON 1 Lecture Notes - Lecture 8: Management System, Affect Measures, Collaborative Software
Document Summary
Supplements traditional financial measures with criteria from three additional perspectives: customer. Addresses the deficiency of inability to link a company"s long term strategy with its short-term actions: short-term financial measures leave a gap between strategy and implementation. Translating the vision: strategy statements must be expressed as an integrated set of objectives and measures. Gap between mission statement and employees knowledge of how their day-to-day actions could contribute. Terms that have meaning to people to realize the vision. Communicating and linking: up and down, ensuring that all levels of the organization understand the long-term strategy. Broad participation builds a stronger commitment to achieving the desired goals. Signal to everyone what the organization is trying to achieve for shareholders and customers alike. Communicating and educating: disseminate initially from top to bottom, communicate knowledge upward in the process, brochures, newsletters, bulleting boards, groupware, electronic bulletin boards, encourage dialogue about the measures.
