An analysis of the balanced scorecard as a management tool in a port facility.
Written in 2008; 1,619 words; 1 sources; MLA; $ 52.95
Paper Summary:
The paper focuses on the balanced scorecard that was developed to help organizations achieve an efficient synergy between vision and strategy. The paper uses the case of a port facility that has problems related to motivation, leadership, customer service and operational issues and shows how the balanced scorecard can alleviate some of these inefficiencies. The paper analyzes the major facets of the balanced scorecard as a management tool that will improve the port operations.
Outline:
Introduction
Implementing the Balanced Scorecard
Performance Measure #1: Financial Perspective
Performance Measure #2: Customer Perspective
Performance Measure #3: Internal Business Processes
Performance Measure #4: Innovation and Learning Perspective
From the Paper:
"The balanced scorecard is not a new concept however, its design is ideal for an organization such as the port facility that can use key performance indicators or measurements to monitor the activities of the organization. The key performance indicators suggested by Kaplan et al are: financial, customer, internal business processes, innovation and learning perspective. The idea behind the methodology is to link goals and measures so as to connect individual units to the overall strategic development of the port by helping individuals to focus on specific measures and goals, (Kaplan et al 133).
"This particular methodology is useful to a port that is losing money, has a poor workflow, a disengaged staff, ineffective leadership, undocumented work instructions, poor shipment clearance times; and is essential to the overall success of the company since it allows management to focus on it own measures rather than a generic and ad hoc set of procedures that would not be applicable to the port."
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