COMM 305 Lecture Notes - Lecture 1: Balanced Scorecard, Materiel, Incus
26 Jan 2015
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Socially complex resources: reputation, trust, friendship, teamwork, and culture are hard to imitate: organization: exploits full competitive potential of resources and capabilities complementary resources: limited ability to generate profit in isolation (formal reporting structure, explicit management control systems, compensation policies) Managers should motivate rather than make the work less annoying to improve worker efficiency. Assign specialized tasks = experts: select job (poor attitudes, costly hygiene, brainstorm list of changes, eliminate hygiene changes, generalities, and horizontal loading. Kaplan&norton the balanced scorecard: measures that drive performance. Social, environment, and financial performances have to be considered when evaluating company performance. Customer perspective (what matters to customers: good ratings/bad ratings. Innovation and learning perspective: # new products/# old products. Financial perspective (profitability for shareholders: net profit = net income/net sales, current ratio. A constant growth means starting a new sigmoid curve before the previous one ends. Time, resources and energy for a new curve.
