The Balanced Scorecard In Practice Essay Example | Topics and Well Written Essays - 1500 words

The Balanced Scorecard In Practice - Essay Example It becomes critically important for the managements of the business and service organizations to implement systems which enable them to have a first hand knowledge of the relative strengths and weaknesses of the organisation. For this purpose the management needs to develop frameworks that transform their visions and goals to tangible and measurable objectives. The purpose of these frameworks is to enable the members of the organizations to identify and understand the broad objectives of the organisation, the relationship among them, and the means of achieving them effectively. By adopting this practice the management is able to engage the available resources of the organisation in a most efficient way to maximize the earnings and revenue of the organisation. They are also able to arrive at realistic business plans. Over the years several research studies have been conducted in this field of the management science, and models like Balanced Scorecard has been developed which are basic ally designed for helping the organizations in their drive towards being more competitive in achieving their goals... â€Å"The Balanced Scorecard method of Kaplan and Norton is a strategic approach and performance management system that enables the organizations to translate a company’s vision and strategy into implementation working from four perspectives.† (12 Manage) The balanced scorecard approach can be represented in the following diagram. 1. Financial perspective encompasses the implementation of a corporate database for processing the information in a centralized and automated way. Under this perspective the management should strive to understand how the shareholders view the firm and decide on the financial goals which are desired from the perspective of the shareholders. For instance the revenue growth, profitability, and cost leadership are some of the objectives that may find favor with the organizations as financial perspective objectives. 2. Customer

American labor system Essay Example | Topics and Well Written Essays - 1500 words

American labor system - Essay Example Thus, laborers are actually the real workers and builders who are at the back of every successful industry and organization. The origin of this occupation can be dated back to the dawn of civilization when man had to subordinate high class individuals to win food and security. Today a laborer expects much more than this: salary, shelter, security, respect, acknwoledgement, comfortability and assurance. Though these ideals are appreciated by all, they are found quite rare even in the developed and civilized countries as America (Kirkegaard, 2007). Struggling against its prior notority of ‘slave labor’ and ‘child labor’, this state has still a long way to go to get an ideal life for laborers and workers. Hundreds of unions and movements raising voices for the rights, demands and needs of the common laborers are emerging and actively working in United States of America, but still the condition of laborers is not much healthier (Hill, 1985). The most voiced comp lain against American labor system is the offering of lower wages and lesser facilities in return of much harder work and long working hours. These poor souls receive no sympathy from the side of employers and administrators, and they are treated rather like animals (Fletcher & Gapasin, 2008). They receive poor pay back for their tiring efforts and have to pay fine in the form of deduction from the expected salary for any mistake. They are deprived of basic rights related to humanly respect, empathy and acknowledgement, and their coordinators even regard them no more than mere machines who are not supposed to cater any emotions and feelings at all and whose function is just to run and produce. The working conditions are even not much better for the workers and laborers. Unhygenic environment, stinking smells of the materials and chemicals, over-crowded working places, deafening noises of the machineries, poorly lit working halls as well as long hours of duty are causing much distres s and frustrations among this community ("Inter-american labor system," 1975). Their problems are not catered and their complaints are not paid heed to. The economic crisis and the ever rising inflation throughout the world have also affected this community a lot and many of the workers are persuaded to opt for double shifts and part-time jobs, as a result of which their physical and mental healths are at stake. To fight against all these problems and to bridge the gap between the lower workers and the higher communities, American Labour Movement was started and laborer unions were formed (Dubofsky & Van Tine, 1987). This concept got its strength in the late nineteenth century, probably in 1866, and today it has got a much organized form. The workers of a factory select a representative among themselves by mutual consent who is considered to be responsible for conveying the messages and demands between the workers and the employers (Sheldon, 1947). The world politics has not spared it and today laborer union is regarded as a possible and most alarming threat against an industry. Other than holding strikes and causing troubles for the administrators, these representative groups are charged of demanding unfairly. According to the assisstant manager of a local firm, â€Å"Sometimes the union leaders cross the legal lines and demand for more than their rights. Obviously, the company cannot encourage such attitude that often erects hurdles for progress†. On the other hand, the union representatives claim that these