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Essay

Mastering the Management System

Essay specific features

 

Issue:

Business

 

Written by:

John C

 

Date added:

October 31, 2011

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 306

 

Was viewed:

5298 times

 

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Essay content:

The tension is critical: World-class processes won’t lead to success without the right strategic direction, and the best strategy in the world will get nowhere without strong operations to execute it. In this article, Kaplan, of Harvard Business School, and Norton, founder and director of the Palladium Group, explain how to effectively manage both strategy and operations by linking them tightly in a closed-loop management system...
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In the next stage, managers translate the strategy into objectives and initiatives with strategy maps, which organize objectives by themes, and balanced scorecards, which link objectives to performance metrics. Stage three involves creating an operational plan to accomplish the objectives and initiatives; it includes targeting process improvements and preparing sales, resource, and capacity plans and dynamic budgets...
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