Balanced Scorecard and Strategy Map Essay Example for Free

Balanced Scorecard and Strategy Map Essay Balanced Scorecard: Part of a system that translates strategy into action. Also, gives a balanced view in four perspectives of how well an organization is driving execution and how successful the results are. The four perspectives in the balanced scorecard and strategy map give executives a more balanced view of their organization. Strategy Map: Represents how an organization will execute its strategy. The Strategy Map shows the objectives needed to execute the strategy and casual links between objectives. It can also be a tool for clear communication and help identify the â€Å"critical few† metrics to monitor strategic execution. Examples: The first of the four aspects contained in the Balanced Scorecard is the Customers. Finding ways to appeal to your customers can be a tough task, but it is one that has to be assessed. For my company, we will have to differentiate between trying to be the broad differentiator or trying to be the low-cost leader. Customer complaints and concerns can also be an issue, so we will want to monitor and record all of those statements to ensure customer satisfaction. In order for us to succeed financially, we have to make sure that we are presenting ourselves well to our shareholders. Do we want to achieve a certain earnings per share or a certain income figure? Our goal this year may be to break even or reach a certain revenue level. Whichever the case may be, we will have to be firm in what we are trying to accomplish. The financial section of the scorecard looks at the company’s financial goals and how they are meeting the goals both currently and in the future. For my company, it will be the most important metric because we want to show our  shareholders the exact progress and growth of the company accurately. Our company will want to continue to grow and have the ability to adapt and improve. In order to do so, we will have to provide detail metrics to track our growth and expansion if there is any. Metrics may include employee retention rates or even the number of training hours for full-time employees. As an organization, it is necessary to adapt to a changing landscape through employee training, learning, and development. With these metrics we can look into the future of the organization, instead of taking a snapshot of how the organization is performing right now. To satisfy our shareholders and customers, we can either sell a large quantity of items at a low price or focus completely on a high quality product that comes at a premium price. Both strategies could be effective, but we will only be able to choose one to fulfill the vision of what we want the company to be in the future. The Strategy Map and Balanced Scorecard go hand in hand and are vital platforms that all companies need to be successful. I like to compare it to the checks and balances system that our government has had in place since its birth. The balanced scorecard monitors finances, performance, growth, and vision while the strategy map makes sure that all of these metrics are organized and focused towards achieving our companies’ goals. References Person, R. (2013). Accelerating Strategic Performace. In Balanced Scorecards Operational Dashboards With Microsoft Excel (2.nd ed., p. 6, 7, 8). Hoboken, N.J.: Wiley ;.

What I Expect From a University Education Essay -- Essays Papers

University Education Expectations "Sarah Dalton...," I heard my name called. My new professor requested that I stand up to present my speech, and the entire class turned to focus on me. With my hands shaking and body trembling in fear, I made my way to the front of the room. I could feel 30 strange pairs of eyes burning into me like hot needles, and the first words of my professor reverberated in my head. "This isn't high school. You're a college student now!" I stared back into my new classmates' faces, and it finally hit me. I was now at a point in my life where I could make my own decisions. This inspired me to further contemplate my realization. I began to ask myself, "Now that I'm in college, what type of education do I expect from SOU in terms of a higher education?" My thoughts eventually focused on three main points: professors should present themselves as equal guides and learners, rather than simply dictating information to passive learners; students should have the ability to learn in an unprejudiced envir onment; and the university should provide opportunities for ind... What I Expect From a University Education Essay -- Essays Papers University Education Expectations "Sarah Dalton...," I heard my name called. My new professor requested that I stand up to present my speech, and the entire class turned to focus on me. With my hands shaking and body trembling in fear, I made my way to the front of the room. I could feel 30 strange pairs of eyes burning into me like hot needles, and the first words of my professor reverberated in my head. "This isn't high school. You're a college student now!" I stared back into my new classmates' faces, and it finally hit me. I was now at a point in my life where I could make my own decisions. This inspired me to further contemplate my realization. I began to ask myself, "Now that I'm in college, what type of education do I expect from SOU in terms of a higher education?" My thoughts eventually focused on three main points: professors should present themselves as equal guides and learners, rather than simply dictating information to passive learners; students should have the ability to learn in an unprejudiced envir onment; and the university should provide opportunities for ind...

Lucent Technology Case

Lucent Technologies Case Yulissa T. Ortiz Salgado March 30, 2013 Financial Reporting: Peeking Under the Financial Hood Mrs. Darcie Sargent The Lucent Technologies is a company that helps creating new revenue generating opportunities for customers through the communication service. We all know how useful and important communication services have become throughout the years. Lucent Technologies is compounded of three organizations around the products and they are: Integrated Network Solutions, Mobility Solutions and Lucent Worldwide Services.Integrated Network Solutions also known as â€Å"INS† provides a service related to voice networking like voice messages, data and network management. Mobility offers software and wireless equipment to support radio like we do it on a car, and other electronic devices; however, all these equipment requires money to keep it running and to maintain it, so economy plays a very important place on this company like in every other. It is mentioned in the reading that throughout the years the economy was affected and the revenues or earnings as well.In 2003, the balance sheet shows a balance of total assets of 15,911. Also, it shows a debt of 19,282. We see that there is no earning but a loss in the balance sheet. On 2003 the loss shown is 4,239. Besides the economy downs and cons we can see that one year after, on 2004 things started to get better financially talking. It is not a big difference, but we can see it is helping the company to hang in there. The asset’s balance shows a 16,963, 1,052 more than the year before. The liabilities went down from 19,282 to 18,342.Also, the loss has decrease, by going up from (4,239) to (1,379). For this company would be hard to find investors because of the financial deficit they are confronting. The liabilities are way bigger than the earnings, because there are no earnings at all. If I were an investor, I would not put my money on a company that I see it’s not generating any money. It is true that the liabilities are decreasing, but in a real slowly way. Possibly if the liability was the same, but the earnings were about the same amount would be different.If I were an investor, I would also like to look at the Statement of Cash flows of the company to see where the money is exactly being spent on and were the money is also coming from. When a company is showing this kind of deficit it is very important as an investor to be able to determine why this is happening. The financial statements definitely provide the complete information needed to find out that information. Going deeper into the loans and the liabilities information would also help to determine how we could lower the debt to help the company run in a better way.Finally, I think I would just like to see all financial statements to determine how could my investment help in a positive way the company and also the company help me financially with the time. Usually we do not expect a company t o generate lots of money right away, but we do expect to live from it after a while. Therefore, it is needed to understand the strengths and weaknesses of the company and financial statements are the perfect tools to find all that information. Reference: Understanding Financial Statements, Eight Edition, by Lyn M. Fraser and Aileen Omiston. Published by Prentice Hall, 2007.

It Is Imperative For Patients On Bipolar Disorder...

It is imperative for patients on bipolar disorder medications, to be aware of the toxicity level, side effects/adverse effects related to the drugs, and the importance to contact a physician in order to take necessary safety precautions. Also, patients need to be taught not to abruptly stop their medication (s) because of the withdrawal symptoms that can be produced and also because patients can relapse, avoid drinks that contain caffeine (that have diuretic effects), avoid alcoholic beverages and nonprescription drugs. For clients on lithium, it is imperative to eat a normal diet with normal salt because lithium can decrease sodium reabsorption which can lead to sodium deficiency. In contrast, low sodium intake leads to lithium retention, which could produce toxicity. Patients need to drink 1500-3000 ml/day or 12oz glasses of fluid because dehydration can raise the level of lithium in the blood. Patients also need to be aware that sweats can make a person to loose sodium. Also, pati ents need to be told to check their kidneys and thyroid frequently if taking lithium over a long period of time. It is important for clients to notify their doctor of any over-the-counter medication. Patients should get enough and regular sleep because irregularity in sleep pattern can precede, accompany or precipitate manic episodes, (Halter, 2016). Health care providers need to see to it that patients get comprehensive education regarding bipolar disorder and the treatments and the importanceShow MoreRelatedPsychhizophrenia Research Paper1333 Words   |  6 PagesIt is imperative to seek treatment for children or adolescents who present with the onset of serious mental illness. Early-onset of illness is a high prediction of poor outcomes for the patient. Severe mental illness diagnoses include schizophrenia, major depressive disorder, bipolar disorder, and autism spectrum disorder. 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Bipolar Disorder (BPD) is also known as manic depression because a person’s mood can rotate between the â€Å"poles†Ã¢â‚¬â€mania (highs) and depression (lows). Possibly the first person who termed â€Å"mania and melancholia† as two diverse states of one and the same disease was the Greek physician of the 1st century AD, Aretaeus of Cappadocia. â€Å"It appears to me that melancholy is the commencementRead MoreWho Is Martha For A Gastric Bypass Surgery?1370 Words   |  6 Pagesfrom bipolar I. Still, it is unknown if her diabetes is a synergistic exacerbation of her depression. 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