ADMS 1010 Lecture 6: scorecard notes123

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Senior executives understand that their organization"s measurement system strongly affects the behaviour of managers and employees. Also understand financial measures like return on investment and earning per share give misleading signals for improvement and innovation. Managers do not need to choose between financial and operational measures. Balance scoreboard four questions: customer perspective, internal perspective, innovative and learning perspective, financial perspective. Companies ad new measure when employee make a suggestion. Focus on measures that are most critical. Scoreboard gives company competitive agenda; customer oriented, shortening response time, improving quality, emphasizing team work, reducing new product launch times and managing for the long term. Guards against sub optimization. scoreboard tells if they need improvement in an area. Reduce time to market by: improving management of new product or releasing product thats different from existing. Electronic circuits inc saw scoreboard to clarify the vision of organization, look at top executives customers perspective.

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