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Strategic Performance Management (The Balanced Scorecard (Limitations of…
Strategic Performance Management
Strategy
Match capabilities with opportunities
Choice of strategy
Mission statement, goals
Implementation of strategy
Planning, performance measurement
Porter's Generic Strategies
Differentiation
Perseption of uniqueness and superiority
Cost Leadership
Lower cost producer = Lower selling price
Focus
Narrow market segment that is poorly served
Ansoff's Matrix
New or existing markets, new or existing products/services
The Balanced Scorecard
Financial Perspective
Customer Perspective
Internal Business Perspective
Learning and Growth Perspective
Define objectives, decide appropriate measures, take action, review performance
Features of a Good Balanced Scorecard
Shows cause and effect relationship
Communicates strategy
Identifies most critical measures
Limitations of the Balanced Scorecard
Focues on small number of areas
Subjective measures better than objective measures
Doesn't consider costs and benefits of intiatives
Unmeasured categories generally ignored