distributors before it was spoiled. The project’s objective was to increase the company’s profitability by reducing cycle times and operation costs while increasing customer satisfaction. The CIL project was followed by the implementation project of a Balanced scorecard (BSC) to maintain CIL’s standards and to focus on continuous improvement‚ learning to enhance performance and rewarding employees for increased productivity. The traditional cost based performance measures which were developed from the benchmarking
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Abstract The balanced scorecard was introduced in 1992 as a performance measurement tool and has developed now to form a strategic management system. This paper uses eight articles‚ identified in Figure 1 along with extra materials to track and analyse developments in the design and implementation. The paper shows examples of the scorecard in practice and concludes that developments have been beneficial overall. It also highlights problems encountered along the way and further areas for improvement
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1. Introduction One of the biggest challenges in organisational management is measuring performance comprehensively‚ as well as implementing and executing organisational strategy effectively. The inception of Balanced Scorecard (BSC) dramatically contributes to address these issues‚ as it provides a useful performance measurement approach‚ and most importantly‚ a strategic management and control system. Therefore the BSC was widely adopted in practice and treated as one of the most valuable innovations
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Using the Balanced Scorecard as a Strategic Management System Kaplan‚ Robert S.‚ Norton‚ David P. Harvard Business Review; Jan/Feb1996‚ Vol. 74 Issue 1‚ p75-85‚ 11p‚ 3 Diagrams Robert S. Kaplan and David P. Norton introduced the balanced scorecard‚ which supplemented traditional financial measures with criteria that measured performance from the perspectives of customers‚ internal business processes‚ and learning and growth. The scorecard enabled companies to track financial results while monitoring
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PROBLEM 10-20 Creating Balanced Scorecards that Support Different Strategies [L05] The Midwest Consulting Group (MCG) helps companies build balanced scorecards. As part of its marketing efforts‚ MCG conducts an annual balanced scorecard workshop for prospective clients. As MDG’S newest employee‚ your boss has asked you to participate in this year’s workshop by explaining to attendees how a company’s strategy determines the measures that are appropriate for its balanced scorecard. Your boss has provided
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Vision of Coca Cola Lula M Grundy Strategic Management 24 October‚ 2011 In an ever changing economy‚ Coca-Cola continues to thrive in the business of non-alcoholic beverages. Its mission statement provides a purpose to endure without yielding and continue the company plans for the future. The vision statement renders the strategic roadmap that will guide the company to sustainable growth for the next ten years. The chosen values are adherently related to the mission
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Introduction of The Coca-cola Company The Coca-Cola Company (NYSE: KO) is an American multinational beverage corporation and manufacturer‚ retailer and marketer of nonalcoholic beverage concentrates and syrups‚ which is headquartered in Atlanta‚ Georgia. The company is best known for its flagship product Coca-Cola‚ invented in 1886 by pharmacist John Stith Pemberton in Columbus‚ Georgia.The Coca-Cola formula and brand was bought in 1889 by Asa Griggs Candler
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industry was Coca-Cola. They brought a new revolution in the history of the world. Coca-Cola is the most popular and biggest-selling soft drink in history‚ as well as the best-known product in the world. Coca-Cola invented in May 1886 by Dr. John S. Pemberton in Atlanta‚ Georgia. The name ’Coca-Cola ’ was suggested by Dr. Pemberton ’s bookkeeper‚ Frank Robinson. He kept the name Coca-Cola in the flowing script that is famous today. Coca-Cola was first sold at a soda fountain by mixing Coca-Cola syrup with
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1. The balanced score card approach and the measure everything and you might get what you want approach are very different. A measure everything approach is very unorganized and inefficient. Time and resources will be wasted measuring things that are not important to that particular organization. If everything is measured it will be hard to analyze and focus the information into useful data. The balanced score card approach to measurement is much more efficient and effective. According to the Evans
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A Project report on "Industrial visit at Hindustan Coca-Cola Beverages Pvt. Ltd" Submitted by: Raj Patel Submitted To: Prof. Rinal Shah Submitted On: 22 March 2013. L.J. Institute Of Management Studies‚ Ahmedabad. INDEX 1.Company Details 2.Products of company 3.Production and Operational Details 3.1 Water treatment plant 3.2 Sugar storage Department 3.3 Making syrup 3.4 Filling plant 3.5 New processing plant 3.6 Tetra pack Department 3.7
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