Running Head: Pioneer Performance Management
Name
Course
Tutor
Date Question #1: Significance of the balanced scorecard approach
A balanced scorecard (BSC) may be use to define what management at Pioneer mean by performance and also can be used as a tool of measuring whether management has attained the targeted results. The BSC translates an organization’s mission and vision statement into a set of objectives and measures on performance that can be used easily quantified and appraised within a given duration of time. It is not often easy to measure performance in an organization without a given threshold or variable instituted; this is because most of the variables or aspects that require to be measured do not exhibit a concrete …show more content…
As compared to the low level inclined clients, the high quality and differentiated services inclined client call for more sophisticated and customized services. It means that in the long run the company has to incur high costs in the production of such services to meet the expectations of the clients(Varia, 2005). However, the accounting department has to institute cost management strategies to keep the costs within the manageable threshold. Lastly, the organization culture and nature of operation must be inclined towards rendering quality services rather than cheap services. It means that management must institute policies and an innovation culture within its workforce(Mitchell, …show more content…
It will enhance the way the company perceives and approaches its market. The second approach is the customer intimacy strategy, by so doing the company will require taking into consideration the customer support services, enhancing customer interaction and adopting the customer management systems. The third strategy is the operational excellence strategy; it is embedded on the precept of decreasing the operation costs and the cycle time, high standards of quality and delivery time and optimizes the supply chain strategy of the
Name
Course
Tutor
Date Question #1: Significance of the balanced scorecard approach
A balanced scorecard (BSC) may be use to define what management at Pioneer mean by performance and also can be used as a tool of measuring whether management has attained the targeted results. The BSC translates an organization’s mission and vision statement into a set of objectives and measures on performance that can be used easily quantified and appraised within a given duration of time. It is not often easy to measure performance in an organization without a given threshold or variable instituted; this is because most of the variables or aspects that require to be measured do not exhibit a concrete …show more content…
As compared to the low level inclined clients, the high quality and differentiated services inclined client call for more sophisticated and customized services. It means that in the long run the company has to incur high costs in the production of such services to meet the expectations of the clients(Varia, 2005). However, the accounting department has to institute cost management strategies to keep the costs within the manageable threshold. Lastly, the organization culture and nature of operation must be inclined towards rendering quality services rather than cheap services. It means that management must institute policies and an innovation culture within its workforce(Mitchell, …show more content…
It will enhance the way the company perceives and approaches its market. The second approach is the customer intimacy strategy, by so doing the company will require taking into consideration the customer support services, enhancing customer interaction and adopting the customer management systems. The third strategy is the operational excellence strategy; it is embedded on the precept of decreasing the operation costs and the cycle time, high standards of quality and delivery time and optimizes the supply chain strategy of the