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7107IBA Sustainable Supply Chain Management

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7107IBA Sustainable Supply Chain Management

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7107IBA Sustainable Supply Chain Management

0 Download6 Pages / 1,381 Words

Course Code: 7107IBA
University: Griffith University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Questions: 
1. Evaluate the process of developing and implementing the current BSC. What were the strengths and weaknesses? 2. How would you redesign the BSC to ensure that Manpower can measure the success of the strategy ‘to be recognised as the Australasian Leader in delivering innovative people solutions’ and specifically the growth through innovation and productivity themes? What measures and initiatives should Manpower incorporate in its scorecard? 3. What role could the BSC play in helping to manage the emerging business challenges identified? What measures/information would help in developing responses or refining the strategic initiatives to meet these challenges?
Answer:
1. The procedure of developing and implementing the current Balance Score Card can help the managers in recognizing the impact, which the strategic measures have on employee performances. However, they believe very rarely that measurement is a vital factor of the strategy. For instance; the executives might introduce some innovative processes of operating and new strategies intended for achieving the breakthrough performances. Moreover, they can continue to utilize the same financial indicators, which they have utilized for decades. In addition to this, the can measure the return on investments, operating income and sales growth. The managers at times, fail to introduce some new measures in order to monitor the new processes as well as goals. Moreover, they also question if or not the old measure are totally relevant to the innovative initiatives (Cuganesan, Ford & Khan, 2006).
It can be stated that effective way of measuring should be considered as an integral part of management. The development and implementation of BSC (Balanced Scorecard) will help in providing the executive with a framework, which will translate the overall strategic objectives of the company into a set of performance measures. Moreover, management system of balance scorecard motivates the breakthrough of the enhancements in critical areas like product, customer, process as well as market development (Akkermans & Van Oorschot, 2018).  
The strengths were the scorecard helped in presenting the managers with various perspectives regarding choosing measures. Moreover, the scorecard can also complement the traditional financial indicators along with the performance measures for the internal processes, customers, innovation as well as improvement activities. These particular measures differed from the ones, which were traditionally being utilized by the company in various ways. Most importantly, the company got benefitted by the different operational as well as physical measures for the local activities. These measures are derived and bottom-up from the ad hoc procedures (Hansen & Schaltegger, 2016).
On the other hand, there were certain weaknesses as well, which needs to be pointed out. Firstly, the scorecard measures were grounded in the organizational strategic objectives as well as competitive demands. Moreover, this requires the managers to select at least, a limited number of the critical indicators. In addition to this, it should be done from different perspectives as the scorecard will help in focusing on the strategic vision of the company. In addition to this, the traditional financial reports are presented without even indicating the performance improvement measures of the managers (Cooper, Ezzamel & Qu, 2017). Therefore, it can be said that the balanced set of measures will enable the company to achieve its goals in the near future.
2. Balance Scorecard can also be redesigned for ensuring the fact that Manpower can assess the achievement of the plan ‘to be recognized as the Australian Leader in delivering ground-breaking people solutions’. The scorecard will be redesigned by keeping in mind the innovation as well as productivity themes. The balance scorecard model can be redesigned for the western countries to operate within the capitalist system. It can be made innovative by taking the infrastructure, markets, customers, capital sources, government intervention, socio-cultural frameworks as well as the literacy levels into consideration. Moreover, the purpose is to redesign the innovative perspective in order to suggest the new management approach for the organization (Park, Lee & Chae, 2017).
The balanced scorecard model can be redesigned in order to address both the financial as well as the non-financial measures at the time of performance management and corporate planning systems. The aim of the model will be to add the leading measures in order to represent the indicators for the future performance planning to the traditional measures of finance that are based on the past performances. In addition to this, the model should emphasize more on the requirements of the information for covering all the areas like corporate performance systems measurement (Roghani, 2016).
Moreover, the company should also incorporate some measures as well as initiatives in the scorecard in order to lead the market. They can balance their finance and non-financial perspectives in order to get utmost satisfaction. The internal efficiencies, innovation perspectives and customer satisfaction should be the most sought-after points. The innovation perspective mainly describes how the organization can improve their long term progresses. This can be done simply my taking the extra skills as well as abilities into consideration, which would benefit the company on the long run (Lubis, Torong & Muda, 2016).
In addition to this, the company needs to measure the looks on how the organization’s intangible assets can reflect the skills availability, talent of the employees and other factors. Most importantly, the three different measures of the innovation are organizational structural capabilities, employee capabilities as well as information system capabilities. The current perspective of the innovation can be measured through the company’s balance scorecard. Furthermore, the company can also focus on several management theories and the adoption of these practices or theories can help the executive managers of the company on the long run (Coe & Letza, 2014).
3. Balanced scorecard plays a major role in helping and managing the emerging challenges of the business that are being identified. In order to make the strategic themes of the Manpower Company operational, it needs to reposition and take some innovative steps in order to succeed. Moreover, the challenges which are addressed are the growing market share in the growth sectors and industries, contribution to the employment expansion in the communities, meeting the industrial benchmarks, repositioning the brand and proactively managing the risks. Balanced scorecard will help in communicating and driving the strategic priorities by developing as well as finalizing the strategic initiatives (Lin et al., 2016).
It will help in measuring the impact on the business performances. Moreover, the implementation tool should consist of the vision as well as strategies of the Manpower Company. It should be translated into actions on the basis of facts and measurements. Additionally, the key challenges are required for the measurement systems, so that it has lesser impact on the relationships with the customers, organizational capabilities as well as core competencies. These measures or information would also help in increasing the reactions or refining the planned initiatives in order to meet the challenges (Valmohammadi & Ahmadi, 2015).
The can be done by connecting the management with the measurement framework for the long term financial successes, systems performances, great customer relationships, employees and internal processes. However, to achieve the clarity for Manpower’s strategy, the company can develop various sessions of strategies with the management. In addition to this, the strategy map will help in describing the corporate strategies as well as elaborate the values through execution strategies. The key outcomes related to the financial parts and customer relationships should be identified in order to get benefitted on the long run (Roghani, 2016).
References
Akkermans, H. A., & Van Oorschot, K. E. (2018). Relevance assumed: a case study of balanced scorecard development using system dynamics. In System Dynamics (pp. 107-132). Palgrave Macmillan, London.
Coe, N., & Letza, S. (2014). Two decades of the balanced scorecard: A review of developments. The Poznan University of Economics Review, 14(1), 63.
Cooper, D. J., Ezzamel, M., & Qu, S. Q. (2017). Popularizing a management accounting idea: The case of the balanced scorecard. Contemporary Accounting Research, 34(2), 991-1025.
Cuganesan, S., Ford, G., & Khan, H. (2006). Using strategy maps and the balanced scorecard effectively: the case of Manpower Australia.
Hansen, E. G., & Schaltegger, S. (2016). The sustainability balanced scorecard: A systematic review of architectures. Journal of Business Ethics, 133(2), 193-221.
Lin, M. H., Hu, J., Tseng, M. L., Chiu, A. S., & Lin, C. (2016). Sustainable development in technological and vocational higher education: Balanced scorecard measures with uncertainty. Journal of Cleaner Production, 120, 1-12.
Lubis, A., Torong, Z. B., & Muda, I. (2016). The urgency of implementing balanced scorecard system on local government in North Sumatra–Indonesia.
Park, S., Lee, H., & Chae, S. W. (2017). Rethinking balanced scorecard (BSC) measures: formative versus reflective measurement models. International Journal of Productivity and Performance Management, 66(1), 92-110.
Roghani, M. (2016). Analysis of Relation between Model of Balanced Scorecard (BSC) and Organization Performance. International journal of advanced biotechnology and research, 7, 1167-1180.
Valmohammadi, C., & Ahmadi, M. (2015). The impact of knowledge management practices on organizational performance: A balanced scorecard approach. Journal of Enterprise Information Management, 28(1), 131-159.

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