logo

Strategic Performance Management System Assignment

   

Added on  2021-06-14

16 Pages3656 Words48 Views
Running head: STRATEGIC PERFORMANCE MANAGEMENT SYSTEMImplementation of Strategic Performance Measurement Systems (SPMS)Name of the University:Name of the Student:Authors Note:

1STRATEGIC PERFORMANCE MANAGEMENT SYSTEMTable of Contents1. Introduction......................................................................................................................22. Balanced Scorecard System.............................................................................................33. Balanced Scorecard Implementation in Multinational Organizations.............................53.1. Strategy Destination..................................................................................................73.2. Perspectives and Measures.......................................................................................74. Challenges Faced and Likely Recommendations to Overcome Them............................95. Limitations of BSC........................................................................................................116. Conclusion.....................................................................................................................12References..........................................................................................................................13

2STRATEGIC PERFORMANCE MANAGEMENT SYSTEM1. IntroductionCertain major factors of Strategic Performance Measurement Systems (SPMS) and theBalanced Scorecard (BSC) are capable to translate strategy within action such as strategicalignment (Adams, Muir and Hoque 2014). This can determine the cause and effect associationpresent within organization conducts and through extension of several company’s sub-units.Most importantly, certain distinct perspectives and activities with important KPIs are maintainedall through the financial and the non-financial aspects. Considering the same, it is also revealedthat balanced scorecard is an only aspect that affects organizational performance in case it isassociated with the intrinsic and extrinsic incentives of managers (Akbar, Pilcher and Perrin2015). In order to attain a sustainable and competitive environment it is vital for the companiesto measure the ways in which multi-national companies. This offers these companies with aproper view of companies’ ability within the recent business markets. Along with the same, forattaining success within the dynamic surrounding it is vital for these organizations to get linkedwith Strategic Performance Measurement Systems (SPMS) within organizational strategy. The objective of the paper is to analyze the issues associated with the implementation ofStrategic Performance Measurement Systems (SPMS) that is balance scorecard in considerationto performance management analysis along with compensation within multi-national companies.Preparing a report in this subject will facilitate in evaluating different implications associatedwith strategic alignment, management performance analysis along with compensation within themulti-national companies.

3STRATEGIC PERFORMANCE MANAGEMENT SYSTEM2. Balanced Scorecard SystemThe balanced scorecard system is a strategic planning and reporting technique thatconsiders the company’s objectives and it is segmented among four equally vital perspectivessuch as financial, operational, consumer and people (Garengo and Sharma 2014). Objectives ofthe multi-national organizations are segmented into such perspectives that offer these companieswith options to maintain clear implementation path. The balanced scorecard system also hasstrategy map in which the financial perspective stays at top and has certain objectives whichcontributes to the bottom line. Another consumer perspective supports such objectives thatresults in addressing consumer requirements that results in increased sales (Guenther, Endrikatand Guenther 2016). If the balanced scorecard is in place with managing performance,employees observe the ways in which job makes a difference to the multi-national organizations.The balanced scorecard portion includes of lagging and leading metrics that the organization orthe departments they can be analyzed on to determine whether they are on the track. The balancescorecard performance measurement metrics lays a foundation for clear performanceexpectations along with the ambiguity elimination of ambiguity focused on employee priorities. With a complete scorecard in place, the employees realize where to place their positionand can easily determine the areas within which the balance scorecard can result in the success ofthe organizational strategy (Gutierrez et al. 2015). Employee performance evaluations along withstatus reports are highly centered on the findings of the balanced scorecard that offers employeesstructures and supervisors to focusing on coaching and evaluation. This also facilitates indeveloping employees structure for coaching and analysis that keeps all the employees informed.Relied on the analysis of the balance scorecard and strategy map, on Strategy facilitates thesemultinational companies regardless of the budget and size in developing their comprehensive

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Management Accounting : Solved Assignment
|11
|3011
|72

(pdf) Strategic Performance Measurement System
|11
|2405
|41

Importance of Strategic Performance Measurement System
|20
|5476
|908

Benefits and Issues of Balance Scorecard in Commonwealth Bank of Australia
|11
|2740
|2

Strategic Performance Measurement System
|12
|2732
|77

MA620 Performance Management Assignment: Strategic System
|13
|3944
|193