Organizational Performance Essay Example | Topics and Well Written Essays - 2000 words

Organizational Performance - Essay ExampleThis paper brings come out a critical evaluation of Balanced Scorecard models developed by Kaplan and Norton as also the EFQM morality model promoted by the European Foundation for Quality Management.With a view to measuring a firms activities in terms of its vision and strategies and to give the managers a comprehensive view of the murder of a business, a excogitation which is described as Balanced Scorecard was introduced by Robert S. Kaplan and David Norton in the year 1992. There have been some(prenominal) studies conducted on the subject of Balanced Scorecard to develop the concept further.The Balanced Scorecard method of Kaplan and Norton is a strategic approach and performance management system that enables the organizations to translate a companys vision and strategy into effectuation working from four perspectives. (12 Manage)Measures Once the objectives ar established the next logical step is to identify the comely tools and parameters and define them to measure the organisationals performance towards achieving these objectives. For example the growth in the net margin or the sales in a particular region may well act as the measure parameters.Targets When the measurement parameters are established suitable targets need to be evolved to transform the organizational objectives into reality. Achieving a reduction in the manufacturing cost to the extent of 5% annually may be fixed as a target.Initiatives prim initiatives in the form of projects of programmes need to be developed as a support for achieving the set targets. If the targets are supported by initiatives, it may not be possible for the organization to achieve its goals.2.2 FEATURES OF BALANCED plug-inThe monitoring of the perspectives of the Balanced Scorecard involves the development and usage of the following features within the broad organizational performance arena.Double-Loop FeedbackIt is always essential, in order to exercise a proper control on the performance measures, at that place need to be data feedback to enable the mangers to determine the cause of variations and identify the processes with significant problems. This would enable the managers to contract their attention on repairing the