Answer the following questions using the number associated and use at least one source for each:
1. Adham in the Key Concept Exercise (KCE) wrote that the organisation that he is working for uses only the financial perspective i.e. financial data to evaluate the organisation.
\” In relation to WE Refresh, the coffee distribution company I work for can also use a range of financial indicators to assess the companies performance. The acid test can be used which divides the companies (current asset stock) by the liabilities (Key Concept: Measuring organizational performance, pp.3). This would indeed show the companies liquidity ratio and likelihood and repaying their debts if any (Key Concept: Measuring organizational performance, pp.3). Also a Return on Capital Employed analysis can be conducted by dividing the profit before any interest added or taxes by the current capital employed. This analysis would show the profit earned from the investments that shareholders have made in the organization (Key Concept: Measuring organizational performance,pp.3). This analysis also incorporated the stakeholders expectations into the model, which give a very accurate result (Key Concept:Measuring organizational performance, pp.3). \”
Please do comment on what may be missing in the evaluation that is conducted by WE Refresh, by focusing only on the financial data? If you were to implement BSC in this organisation, how would you go about doing it??
2. Fawzi in the Key Concept Exercise (KCE) has mentioned the idea of \”Performance Management System (PMS)\” , in the context of measurement systems.
\”Performance measurement system for organizations, it is the challenge, takes into account not only possess a sustainable competitive advantage, but he predicted the external variables of the body, and to make sure the march established on the right path set by the vision and mission. \”
This made me wonder how we can align the KPIs (Key Performance Indicators) of employees to be aligned to (A) the BSC measures and (B) the strategy of the organisation. The expected performance of the employee on different dimensions are called KPIs. 🙂
In my view the \’strategy\’ of the business should dictate the \’BSC\’ , which in turn should influence the \’KPIs\’. Can we have some examples please?
3. Lionel in the Key Concept Exercise (KCE) below has mentioned the idea of Employee Performance Appraisal being somehow connected to the BSC (Balanced Score Card). He has mentioned 360 degree performance appraisal as a means of appraising employees.
In my view the \’strategy\’ of the business should dictate the \’BSC\’ , which in turn should influence the \’KPIs\’. Can we have some examples please? We can start thinking about it from the standpoint of 2 generic competitive strategies i.e. cost leadership and differentiation. In another post I have suggested that the class please comment on how the BSC would be different for each of 3 generic competitive strategies, this post is taking it a step further by making you think what kind of performance appraisal will help implement the chosen strategy?
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