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Lecture 51

BMRT 11009 Lecture Notes - Lecture 51: Balanced Scorecard, Organizational Culture, Competitive Advantage


Department
Business Management and Related Technologies
Course Code
BMRT 11009
Professor
Aviad Israli
Lecture
51

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CAREER CORNER
APPENDIX: IMAGE DESCRIPTIONS FOR UNSIGHTED STUDENTS
Appendix 1: Control: When Managers Monitor Performance, Text Alternative
Figure 16.1 outlines controlling for effective performance.
For effective performance:
1. Planning: you set goals and decide how to achieve them.
2. Organizing: you arrange tasks, people, and other resources to accomplish the
work.
3. Leading: you motivate people to work hard to achieve the organization’s goals.
4. Controlling: you monitor performance, compare it with goals, and take
corrective action as needed.
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Appendix 2: Steps in the Control Process
(1 of 4), Text Alternative
Step 1. Establish standards.
Step 2. Measure performance.
Step 3. Compare performance to standards.
Step 4. Take corrective action, if necessary.
If yes, take corrective action; perhaps revise standards.
If no, continue work progress and recognize success.
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Appendix 3: Steps in the Control Process (4 of 4), Text Alternative
The sample control chart monitors a student’s progress in studying for the final. The optimal
performance would be to read 55 pages per night. The upper limit is 75 pages per night and a
lower limit of 35 pages per night.
The time period is laid out at the bottom is for two weeks.
A line is used in the chart to show the student when the performance climbs above the upper
limit and below the lower limit.
This chart shows that the student started out below the 55 pages per night, and by the first
Thursday had climbed to about 68 pages per night and then dropped drastically on the first
Friday. The student then read more than 75 pages per night on Saturday and Sunday, but
dropped below the lower limit on Monday. With just a week left, the student’s reading slowly
climbed from Monday to the final Sunday when 75 pages were read.
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Appendix 4: The Balanced Scorecard: Four Perspectives (1 of 2), Text Alternative
The figure gives the four perspectives, each divided into goals and measures.
1. Financial perspective: “How do we look to shareholders?”
2. Customer perspective: “How do customers see us?”
3. Internal business perspective: “At what must we excel?”
4. Innovation and learning perspective: “Can we continue to improve and create
value?”
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Appendix 5: The Strategy Map, Text Alternative
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