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LLB - Assignment Example

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This article by de Wall is a summary of a lengthier interview with Robert Kaplan, the co-creator of the Balanced Scorecard concept with David Norton, as well as excerpts from the speech he gave at the 2002 PMA conference, in July in the US in Boston, Massachusetts, where he was…
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Download file to see previous pages... The author asks Kaplan why he believes that the Balanced Scorecard had become so entrenched in the business world and its internal process and matrix. To which Kaplan sites what he feels is the tremendous communication gap between those creating the strategy and vision of the company at the top, and those that are attempting to implement that strategy on the front lines and in the real world at the bottom, so to speak. Kaplan states that the Balanced Scorecard helps to bridge the gap between the vision of upper management and the implementation of that vision into strategy by the staff.
When asked if this system is still useful today and not “passé” as others have said, Kaplan responds by stating that book sales are still high and the attendance at Balanced Scorecard conferences are growing. He also sites that many countries Asia are implementing the technique in their larger organizations and he has also seen a rise of its use in many non-profit companies both here and abroad. Kaplan also believes that many companies are still struggling with getting their strategies out into practical business practice and that these companies have failed to utilize most of the non-financial metrics in their business evaluations, leaving them in the dust as far as any progress is concerned. He is currently working on another concept called a Strategy Map, which will hopefully guide companies along the process of strategy implementation. Kaplan believes that the Balanced Scorecard will be a valuable business tool for many years to come and he would like to see much more research done in the area of creating excitement and greater participation by employees to help them with the task of strategy implementation. By giving employees proper motivation he believes that any strategy can succeed, and will certainly fail without ...Download file to see next pagesRead More
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