Decision Making of Top Management in the Oil & Gas Industry

Added on - 06 Jan 2020

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The Effect of Balanced Scorecards andKPIs on Decision Making of TopManagement in the Oil & Gas Industry
TABLE OF CONTENTSPART A...........................................................................................................................................1REFERENCES................................................................................................................................3CHAPTER 3: RESEACH METHODOLOGY................................................................................4Introduction.................................................................................................................................4Research Framework and design................................................................................................4Study population and sampling...................................................................................................8Instrumentation...........................................................................................................................9Data collection..........................................................................................................................10Scale reliability..........................................................................................................................10Data analysis.............................................................................................................................11Summary...................................................................................................................................12REFERENCES..............................................................................................................................13
PART ADecision masking aspect for the top management of the business plays a significant rolein attaining effective and well defined results for the organizational growth. It creates asignificant impact on business development and growth aspects in the industry. KPI (Keyperformance indicator) is one of the effective tool to measure and analyse the businessperformance against the set standards.balance scorecards is considered as the crucialperformance measurement tool that helps in measuring individual performance so that successcan be attained effectively. The two measures are crucial in attaining valid and reliable results forthe study analysed in the overall analysis.Lu and Goh, (2016)stated in the findings that balance score card is one of the significantand most effective tool for identifying and monitoring the performance of the business unit. Itacts as an effective tool for measuring the financial and non financial performance of thebusiness unit in an effective and well defined manner.Marr (2012)revealed that the stated aspectdevelops a significant base to quantify different aspect of business growth which develops areliable aspect for strategic planning and development aspect for the business. The evaluationstated that different perspective of performance analysis is defined by applying the stated tool inthe analysis.According toOyaneder and Valderrama (2016)usability of performance tools such asbalance score card and KPIs have helped companies in enhancing their efficiencies for makingdecisions for growth and development of the companies. These business tools have helpedbusiness units in making informed business decisions which has enhanced the overall growth andsuccess aspects of the business units. The research findings for the present study will help theresearcher in making informed decisions for the business analysis.Peng Xu, Chan and Qian,(2012)stated in the findings that performance tools such as Balance score card and KPIs havehelped companies in enhancing transparency aspects within the companies which has helped inminimizing the situations of conflicts within the business unit. Another perspective of the topicwas attained fromSchaltegger (2011)which revealed that implementing Balance Scorecardstrategy assisted in significantly improving the implementation of objectives and strategies sothat proper control and monitoring can be done to obtain business progress. It is one of the bestcommunication device that helps team members to inform the other members of the teameffectively. Thus it helped companies in developing business objectives in effective and1
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