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By Team A4 Fani Dimopoulou Thomas Kandrikal Surya Saha Ji Shen Ivaylo Stoykov Miia Zhang Winning Strategies Part 1.

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Presentation on theme: "By Team A4 Fani Dimopoulou Thomas Kandrikal Surya Saha Ji Shen Ivaylo Stoykov Miia Zhang Winning Strategies Part 1."— Presentation transcript:

1 By Team A4 Fani Dimopoulou Thomas Kandrikal Surya Saha Ji Shen Ivaylo Stoykov Miia Zhang Winning Strategies Part 1

2 ON TARGET Theory of BSC Advantages & Disadvantages of BSC Steps to minimise disadvantages Strategy deployment for WaveRider BALANCED SCORE CARD By Team A4 2

3 ON TARGET 3 The BSC approach gives a broad view of the factors that lead to business success (Kaplan and Norton, 1996). BALANCED SCORE CARD Not only the financial measurements are considered but also the operational ones. By Team A4

4 ON TARGET ADVANTAGES DISADVANTAGES 4 BALANCED SCORE CARD By Team A4 Balanced outlook Improve alignment of actions into strategic goals Identify priorities Proactive approach Employee perspective Customer perspective Scalability Expensive process Time consuming Subjective BSC can cause uncertainty Imbalance b/n financial & non financial measures The BSC changes over time Possibly gamed by employees Cost benefits not known Employee & supplier contribution not entirely recognised Focus on top down performance measurements S.M.A.R.T. / C.A.M.E.L.S. / POLICY DEPLOYMENT

5 ON TARGET 5 By Team A4 STEPS TO MINIMISE DISADVANTIGES REMEDY Choose non financial measures that look ahead alongside financial measures that looks behind Manage gaming among employees by having threshold limits for measures Combine dissimilar measures : formulaic and subjective measures need to be combined Measures will change over time, so all measures need to be updated periodically Test the business model statistically to validate the measure. Trade off between generic and specific measures Choose measures in context to a business model or to a firm’s strategy Anticipate how the performance measurement system will change

6 ON TARGET 6 Strategy Number 3 deployment /BSC approach WaveRider By Team A4

7 ON TARGET 7 By Team A4 Strategy № 3 STRATEGY CHOICE JUSTIFICATION 6/6 points have positive impact on the company Total estimated expenses: £425k Increase in operating profit due to retail price increase European market is growing and WaveRider needs to penetrate abroad to gain market share This strategy proposes re-engineering of three departments Decrease in distribution costs by changing the current distributor Source: team’s discussion

8 ON TARGET 8 THE VISION To achieve excellence before, during and after the purchase of the world’s best RIB boats By Team A4

9 ON TARGET 9 Increase market share in Europe STRATEGY IMPLEMENTATION By Team A4

10 ON TARGET 10 CONCLUSIONS Strategy № 3 proposes solutions to the majority of the problems risen by the board of directors It does not cover Production Director’s view of introducing new products (e.g. engines, clothes, e.tc.) However, It does not include measures for improving personnel’s performance as Human Resources Director pointed out that the company has the same employees since the beginning By Team A4 It is a short term strategy

11 ON TARGET 11 REFERENCES By Team A4 Bourne M. et al (2003) “Implementing performance measurement systems: a literature review”, International Journal of Business Performance Management, Vol. 5, No.1, pp Kaplan, R.S. and Norton, D.P. (1996) The Balanced Scorecard — Translating Strategy into Action. Harvard Business School Press, Boston, MA. Ma, Y. & Xu, X. (2004) The advantages and Disadvantages of Balanced Scorecard and It’s Application, Journal of Shenyang Normal University Social Sciences Edition. Mooraj S. et al (1999) "The Balanced Scorecard: a Necessary Good or an Unnecessary Evil?", European Management Journal Vol. 17, No. 5, pp. 481–491

12 ON TARGET By Team A4 Thank you


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