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Many organizations develop strategic plans - Assignment Example

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Many Organizations Develop Strategic Plans Section 1: Balanced Scorecard can be termed as a decisive tool which facilitates to overcome the vision barrier to the execution of strategies. This tool can be effectively utilized by organizations of diverse nature for developing effective strategic plans for the purpose of executing the same strategies in various business operations…
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Many organizations develop strategic plans

Download file to see previous pages... Since then, this system has been effectively utilized for the purpose of translating an organization’s active business strategies along with its broad mission. In addition, the balanced scorecard has also been used in a few of the most critical drivers that drives the future performance of an organization i.e. business processes, capabilities along with resources. These aspects have been fruitful in ascertaining a greater set of outcomes such as meeting the interests of the consumers along with the development and prosperity of organizations. All these facets of balanced scorecard can prove to be beneficial as it authenticates that the numerous private, public along with not-for-profit organizations have accepted and utilized this particular method. It has also been regarded as a part of their overall strategic management approach. Based on this factor, the authenticity along with the wide applicability of the balanced scorecard in relation to the execution of strategy can be determined. It has also been studied that this particular tool is utilized in order to reduce a lot of operational barriers in a highly professional manner (Claude, 2008). In addition, it has also been learnt that the balanced scorecard can be utilized in a very strategic manner as well. ...
Over the years, balanced scorecard has provided great aid to numerous organizations along with suppliers for designing and implementing various strategies. All these factors combined together have been responsible for overcoming the vision barrier to a very large extent. In this regard, Kaplan was able to define the increasing rate of barriers that seem to put the operational capacities of various organizations at stake. In this similar regard, he has also explained that through sustained organizational efforts along with optimum utilization of this particular scorecard, a large number of organizational barriers could be averted. In a different context, Norton, Kaplan and others have delivered weightage on the fact that in order to achieve all round success in an organization, the scorecard needs to be utilized in a tricky manner. They explained that in order to create organizational success, clarity in the communication strategy is needed to be maintained at all levels. This results in the formation of effective strategies as well (Claude, 2008; Niven, 2010). Section 2: A. Critique of the Division’s Use of the Balanced Scorecard The balanced scorecard highlighted upon the most important aspects such as increase undergraduate student retention and engagement, develop students as ethical leaders and agents of positive change among others. All these aspect combined together have proved the authenticity of the balanced scorecard. Other aspects such as increased retention and graduation rates for targeted populations and decreased violations of community standards among others validate the division’s use of the Balanced Scorecard. ...Download file to see next pagesRead More
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